Invest Edinburgh (January - April 2019) by Invest Edinburgh

#64 Capital connections New business hub will unlock potential of fintech

January – April 2019

SET FOR LAUNCH EDINBURGH’S RAPIDLY RISING SPACE TECH SECTOR From the development of commercial rocket technology and Earth observation platforms to robotics research aimed at enabling extra-terrestrial exploration

ALSO INSIDE: Gleneagles to open in city centre p4 Made in Edinburgh: body cameras by Edesix p14 New Arrivals: Modulr

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AN ECONOMY LOOKING TO THE STARS

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Switching on to the electric vehicle revolution

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GORDON DEWAR, CHIEF EXECUTIVE, EDINBURGH AIRPORT

Capital focus How the Edinburgh International Conference Centre continues to deliver for Edinburgh

TravelNest expansion

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EUROCITIES

ROUND TABLE Demand Edinburgh’s office market continues to thrive

UNLEASHING THE POTENTIAL OF CREATIVE CITIES

EXPLORE OPPORTUNITIES IN SCOTLAND’S AWARD-WINNING CAPITAL

WELCOME TO THE LATEST ISSUE OF INVEST EDINBURGH

Shaping a vision for Granton Waterfront As we look to build on Edinburgh’s global reputation as a technology hub, a city with a thriving entrepreneurial ecosystem increasingly influenced by an ambitious data driven agenda, the aim must be to secure sustainable and inclusive growth that delivers opportunities for all. As you can read in the following pages, Scotland’s capital has much to be proud of. We are a growing city, an urban centre open to the world with a thriving economy that appeals to investors near and far; a city with a proud track record as a base for worldleading technology companies. There are, however, fundamental challenges that the city needs to meet. The actions needed to meet these challenges are complex, but the message is clear. The Edinburgh Economy Strategy sets out a new vision for the city. Through a work programme aimed at enabling strong economic growth and focussed on inclusion and innovation, the strategy seeks to ensure that Edinburgh continues to be the most productive major city economy in Scotland, enabling the development of a truly successful economy in which all citizens can share in the prosperity created. The approach to delivery of the strategy is centred on strong collaboration between The City of Edinburgh Council and our partners. This economy strategy is one of the first practical steps to meeting the City Vision 2050 and we are committed to turning it into a powerful programme of delivery and change over the coming years.

Councillor Kate Campbell Convenor of the Economy and Housing Committee Councillor Lezley Marion Cameron Vice-Convenor of the Economy and Housing Committee

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Summary: Work is underway to help shape a shared vision for Edinburgh’s northern waterfront. www.investinedinburgh.com/supporting-business /find-development-opportunities/the-forthquarter November saw the start of a detailed six-month public consultation period, designed to shape the regeneration of the Granton Waterfront along Edinburgh’s north shoreline. Edinburgh Waterfront, of which Granton is part, has been identified as one of seven strategic sites prioritised for development as part of the Edinburgh and South-East Scotland City Region Deal. It is hoped the bold vision for the area will ultimately deliver around 4,000 new homes, including much needed affordable housing stock, as well as new services, retail and highquality public realm. The aim is to create a vibrant, sustainable waterfront befitting Scotland’s capital, a new place with a sense of identity where people want to live, work and spend time.

Facts & Stats Edinburgh’s median full-time resident workers salary in 2018 was

38.6%

of Edinburgh workers are employed in high skilled occupations, the highest in the UK

Envisaged as a 15-year plan to revitalize the area and maximise the placemaking potential of what is a prime city location, the consultation programme precedes the masterplan’s expected submission for approval as non-statutory planning guidance in late Spring 2019. Additional engagement sessions are planned for January and March 2019, with the aim of harnessing as many local views as possible. In developing its proposals, The City of Edinburgh Council is also hoping to work closely with key public sector partners, including Edinburgh College, National Galleries Scotland, Scottish Futures Trust, Scottish Government and National Museums Scotland.

£30,700 Gross Value Added per capita in Edinburgh was

£39,300 higher than other major UK cities (2016)

FNZ sale secures long-term investment Summary: The recent acquisition of FNZ demonstrates global fintech interest in Edinburgh. www.fnz.com In one of the largest transactions seen in 2018, an Edinburghheadquartered global fintech changed hands in a deal which valued the business at £1.6bn. Private equity investor HIG recently sold its two-thirds stake in FNZ, to Generation Investment Management, the firm co-founded by former US vice-president Al Gore, and Canadian pension fund La Caisse de Dépôt et Placement du Québec (CDPQ). Originally founded in New Zealand in 2003, Edinburghheadquartered FNZ has helped to transform how global financial institutions serve their wealth management customers. The business employs more than 1,400 people globally and partners with banks, insurers and asset managers to help consumers better achieve

their financial goals. It is responsible for over £330bn in assets under administration held by around 5 million customers of some of the world’s largest financial institutions. FNZ partners with more than 60 financial institutions across the UK, Europe, Australia, New Zealand and South-East Asia. “We see a unique opportunity to create a global-scale platform

for wealth management. This requires a willingness to invest for the long-term. The firm’s 400 employee shareholders are firmly committed to this outcome and CDPQ-Generation is the perfect partner, given its unique 8-15 year time horizon and focus on sustainable investments,” said Adrian Durham, CEO and founder.

Lothian Buses has unveiled new high capacity buses capable of carrying up to 100 seated passengers. Services started in the New Year.

Investment sees TravelNest broaden its horizons TravelNest, the travel technology start-up that allows rental accommodation providers to maximise revenue by consolidating thousands of separate booking sites into one portal with huge reach, is set to create more than 80 skilled jobs in Edinburgh as its seeks to expand operations. The growth is part of a wider £7m investment in the business, which includes £2.3m in R&D and RSA grant funding from Scottish Enterprise. The latest news comes hot on the heels of an earlier investment round, in late 2017, when TravelNest secured

£3m in seed funding from Pentech Ventures, Mangrove Capital Partners, Frontline Ventures and former Skyscanner chief operations officer Mark Logan – the largest seed funding round in Scotland to date. “To achieve our goal of winning in a global market, we need to move extremely quickly. Speed is critical in all aspects of our business, including product development, customer acquisition and recruitment,” said Doug Stephenson, TravelNest CEO. “We’re excited about the future we’re building for ourselves here in Edinburgh. We have built

an exceptional team here and will continue to maintain a high talent bar as we grow.” Michael Cannon, Head of Innovation Grants, RSA and Open Innovation at Scottish Enterprise, added: “TravelNest is a fantastic example of a young, innovative company with global ambitions to be a leader in its market.” “This news is further evidence of Edinburgh’s credentials as an attractive location for technology businesses, with the city named the most active tech innovation community outside of London in the UK Tech Innovation Index.”

Edinburgh is to stage its first Chinese New Year festival in February, as part of a drive to promote the city as one of “Europe’s premiere China-friendly destinations.” January / April 2019 – 3

Work commences on new West Edinburgh urban quarter Summary: a new urban quarter in West Edinburgh aims to set a new benchmark in sustainable placemaking. www.parabola.com

Ian Macleod Distillers has announced plans to build a multimillion-pound distillery and visitor centre for Edinburgh Gin in Edinburgh’s old town. The development will increase the brand’s production capacity by more than 200%.

Award-winning property development and investment company, Parabola, is set to commence work on the first phase of a new £500m urban quarter in West Edinburgh, close to Edinburgh Airport. The Edinburgh Park expansion is aiming to establish a benchmark in placemaking, delivering a sustainable, low carbon urban quarter that not only provides homes for families, but a cultural and creative campus for the city. Parabola, which in 2018 also acquired the former House of Fraser store on Princes Street, sees the development as an exemplar community that will deliver up to 93,000m2 of commercial space with a civic square at its heart. The first phase will include a new 200seat conference facility, a café, bar

and restaurant as well as innovative shared office space tailored towards providing flexible room for growth for tomorrow’s agile start-ups. “Edinburgh at present has an acute shortage of Grade A quality office accommodation – there are few opportunities to create the size, scale and quality of offices that Parabola has planned

for Edinburgh Park,” said Tony Hordon, Managing Director. “This, combined with an amazingly well-connected site – with two tram stops, railway stops and exceptional bus connections as well as cycle routes – makes Edinburgh Park one of the city’s most obvious destinations for sustainable growth.”

Edinburgh set for Gleneagles Hotel

Also of interest: Craft beer group Innis & Gunn has unveiled plans to build a brewery in Edinburgh – the first new largescale one in the capital for over 150 years.

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Summary: Gleneagles Hotel, Scotland’s most recognisable luxury hotel brand, is set to open a new city centre hotel in Edinburgh.

www.gleneagles.com The world-renowned Gleneagles Hotel and Spa has announced plans to transform two historic buildings in Edinburgh’s St Andrew Square into a 33-bedroom luxury hotel featuring bars, lounges and restaurants, as well as retail and events spaces. The result will be a celebration of the traditions and glamour of country life, in the heart of Edinburgh’s New Town. As part of the plans announced by Gleneagles’ owners, Ennismore, the distinctive former headquarters of the Bank of Scotland – incorporating the buildings at 37-39 St Andrew Square – will be transformed into a new destination hotel. The six-floor building

at 38-39 St Andrew Square, famous for its imposing façade featuring six Corinthian columns topped with rooftop statues, is a Grade A listed building, famed for its stunning banking hall. It will be the first time in its history the Gleneagles brand has extended beyond its Perthshire estate home. “This is an exciting time as we look to expand the Gleneagles offering through the development of another iconic building in the Scottish capital,” said Sharan Pasricha, Ennismore Founder & CEO. “We have been working with the local authority, residents and stakeholders in shaping our plans and we intend to invest a considerable sum to bring this building back to life whilst, like Gleneagles, respecting its incredible history and original features.”

Office market activity levels surged in 2018

Latest blogs from Invest Edinburgh...

10 December Office market activity in Edinburgh is on course for another 1m+ sq ft transacted in 2018. We spoke to Stewart Taylor, advisory & transaction services senior director at CBRE.

3 December Two central Edinburgh sites on London Road have been bought for development by property business Scarlett Land and Development. Director Will Scarlett explains the rationale.

26 November Summary: Activity levels across Edinburgh’s office market reflect the overall health of the city economy.

www.knightfrank.co.uk With prime office yields remaining at 5%, Edinburgh continues to be an attractive proposition for overseas investors, who accounted for 56% of all office investment over the past 12 months. According to Kenneth Brewster, Associate with leading commercial property agents Knight Frank, Q3 2018 office investment reached £57.32m, a 26% rise on the same quarter in 2017, bringing the total year-todate figure for 2018 to £218.95m.

Letting activity also saw significant growth in Q3 2018, with take up reaching 20,300m2 a 56% rise on the 10-year quarterly average. The financial services sector continued to dominate activity in the city, accounting for 41% of completed transactions in Q3 2018, totalling 8,175m2. There has been a clear preference among occupiers, especially those in the tech sector, for well designed, high-quality collaborative office space that maximises opportunities for co-working. Figures released by CBRE Scotland highlight increasing

Q3 2018 office investment reached £57.32m, a 26% rise on the same quarter in 2017.

Crucible Alba Group has announced it is to build a new 70-bedroom hotel at South Gyle, Edinburgh, pre-let to Travelodge on a 25-year contract.

“Transactions in the quarter included the purchase of 40 Torphichen Street by M&G Real Estate for £22.15m, representing a net initial yield of 5.97% for vendors Triuva. Elsewhere, 12 Blenheim Place exchanged hands, with KanAm Grundinvest Funds acquiring the newly refurbished Grade A building from Chris Stewart Group for £17.57m, a yield of 5.27%.”

pressure on Grade A stock, mainly due to high levels of pre-let activity, including over half of Capital Square on Morrison Street to legal firms Pinsent Masons and Brodies LLP. Overall, citywide Grade A take-up in Q3 2018 was 11,700m2 – over half of the total Grade A take-up for the year-to-date, which was sitting at 23,400m2.

Jason Carruthers, managing director of Leonardo and Jurys Inn Hotels UK and Ireland, explains why international hotel group Fattal is investing more than £30m in its Jurys Inn Edinburgh hotel and a newly acquired neighbouring site.

19 November Edinburgh’s reputation as the world’s festival city and a year-round destination have inspired London-based hotel group Point A Hotels to open a new hotel in Edinburgh next summer.

12 November After Amazon recently announced it was creating another 250 jobs in Edinburgh, Invest Edinburgh spoke to Graeme Smith, managing director of Amazon Development Centre Scotland.

January / April 2019 – 5

QUESTIONS Gordon Dewar, Chief Executive, Edinburgh Airport Gordon has held a number of senior positions with leading transport operators. He spent four years with BAA running Glasgow and Edinburgh airports from 2007-2010, before a two-year spell as Chief Executive at Bahrain International Airport. He returned to Edinburgh in 2012. Gordon is a Board Member of the Scottish Police Authority, the Scottish Tourism Alliance and AOA, the trade body for UK Airports.

www.edinburghairport.com

How important is Edinburgh Airport to the Scottish and Edinburgh economy? Business and tourism are two of the Scottish economy’s key drivers and we facilitate a huge part of that by bringing the world closer to Scotland. We fly to more than 150 destinations, some of them acting as hubs to places further afield, and we had 13.4 million passengers in 2017 – a record for any Scottish airport. Just to put it into context, in 2016 our independent economic impact study showed the 11.2m passengers we had then equated to £1bn GVA and 23,000 jobs across Scotland. Since that study, we’ve added 2.2m passengers. With imminent changes to how we trade and travel, how important is it that Edinburgh remains open for business? The importance can’t be downplayed because there are hundreds of other countries out there looking to do the same. We’re an export business that generates positive balance of trade. There’s a greater awareness of the wider contribution we make to Scotland through the tourism and international student sectors – crucial parts of our national export balance sheet and two of our biggest ongoing growth opportunities for Scotland. We need to work together with a range of industries to deliver sustainable and equitable growth across the country. On the back of record figures in summer 2018, what do you put that success down to? Our international market has grown extensively over the past five years, from one long haul route to 12, while we’ve greatly increased our European network. International routes are where we see most

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of that growth because our domestic market is already quite mature. It’s the whole Edinburgh team that makes that possible. From airlines to engineers, baristas to security and maintenance teams, we all work to the same goal of providing passengers with choice and a positive experience. Edinburgh has announced several new connections recently. What attracts airlines to Edinburgh? The city and the country speak for themselves – our history, our culture and our people are famous around the world. As an Edinburgh boy born and bred, there’s nothing more satisfying than going out to countries and airlines and talking up and selling my city. From a business perspective, our team is made up of people with industry-specific knowledge, data specialists and people with a real affinity for the airport and travel. Our investment in them means we now have strong, well-resourced business cases with fantastic levels of data that our airline partners see as a valued and trusted consultancy service. The Edinburgh China Air Link (E-CAL) collaboration played a key role in securing a direct air service to Beijing. How important is this public/ private sector approach? It was the first time the city had taken a collaborative approach, responding as one through the Edinburgh-China Air Link and Edinburgh Tourism Action Group’s ChinaReady initiative – both were key. E-CAL capitalised on Edinburgh’s reputation as the UK’s most popular destination for Chinese visitors outside London. Likewise, the China-Ready initiative was a city vision that extended beyond tourism. That Team Edinburgh and Team Scotland approach means we now have a direct link with the world’s largest outbound tourism market and a potential market of more than 1 billion people. Edinburgh was recently named UK Airport of the Year at the National Transport Awards. What do such awards mean for the Airport? It’s great recognition for the team. Everyone works hard to ensure we offer passengers as positive an experience as possible. Much of that work goes unnoticed as much of it is behind the scenes. Every day is a big day for someone at our airport, whether it’s grandparents coming home from Dubai for Christmas, a student heading off to study in America or the newlyweds off on honeymoon. We all play a role in what, for many, will be a

forever memory and that inspires us to do our very best. Next year sees the completion of a fiveyear, £220m investment programme in the Airport. But with passenger numbers set to rise to 16.5m in 2021, are there plans for further investment? Our new terminal expansion opened this summer and it’s been greatly received. But it was something we really needed to do, as it grows our passenger capacity to more than 17 million passengers which, for the first time, gives us headroom. This extension is the beginning of a longer period of investment in our airport. We’ve increased passenger demand by 60% over the past five years and we’re one of Europe’s fastest growing airports. However, we want to stay ahead of that curve and aim to do so through continued investment, including improvements to the external infrastructure as well.

The West Edinburgh Strategic Design Framework (WESDF) identifies an area of national economic importance, with potential to attract inward investment and create jobs. How does the redevelopment of the current second runway support that vision? Last year delivered another record for foreign direct investment in Scotland, so it’s clear there’s an appetite to do business here. Recent investment has delivered fantastic transport links, meaning people can get from terminal to town in less than 30 minutes. We now have a development that will revolutionise West Edinburgh. Crosswind Developments is part of Edinburgh’s exciting future, creating and supporting jobs, providing community facilities and investing in vital infrastructure including office space, residential and hotel developments, while logistics and industrial space is being considered. As the Airport continues to evolve to meet passenger demand, how does it ensure growth is environmentally sustainable?

It’s something we always consider when planning for the future, from improving public transport to designing energy efficient buildings. In fact, throughout the terminal we’ve installed sensors that control our lighting and air conditioning to save energy – and introduced water-saving technology. We’re investing in electric vehicles including trialling electric push back vehicles to reduce air quality impact. We continually engage with airlines to encourage them to use the newest fleet possible, while our campus partners know they have a role to play as well. We pride ourselves on being an innovative airport that likes to adopt and use the latest technologies where possible and we’ll continue to do that. Looking back over the many achievements you’ve seen at Edinburgh Airport since returning in 2012, which are you most proud of?

I’m going to go for two: one external and one internal. Externally, it must be bringing a China route to Scotland. It’s the goal I set for myself and the team when I came back to Edinburgh because I knew the potential it had for us. It was five years of hard work, honing our negotiations, but it was worth it. Every long-haul development we’ve managed to achieve has been fantastic and we are proud to work with an array of amazing partners. Internally, it’s been the investment in our leadership and management development programmes. We have highly skilled people working across the campus and we want to progress those skills further by providing career and self-development options for our home-grown talent. It will be key to taking our airport and Scotland forward over the coming years.

Also of interest: The private sector E-CAL partners are Laings and The Edinburgh Hotels Association.

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“IT’S SPACE JIM, BUT NOT AS YOU KNOW IT” Think ‘space technology’ – and Texas or California might spring to mind more readily than Scotland – let alone Edinburgh. But with the UK Space Agency providing £31.5m for a new spaceport in Scotland, it’s a fast-growth sector that’s now firmly on the map.

ITH THE POTENTIAL FOR A MANNED MISSION TO MARS NOW BECOMING A REALITY, AND THE IMMINENT START OF COMMERCIAL PASSENGER FLIGHTS INTO SPACE, THE PUBLIC IMAGINATION HASN’T BEEN THIS EXCITED BY SPACE EXPLORATION SINCE THE APOLLO MISSIONS OF THE LATE 1960S, OR THE RELEASE OF THE FIRST MIRACULOUS IMAGES FROM THE HUBBLE TELESCOPE. Advances including the successful landing of NASA’s InSight lander on Mars, last November; or the James Webb Space Telescope, set to succeed Hubble in March 2021 – including an infrared camera and measuring instrument partially developed by engineers and researchers in Edinburgh – all herald a new golden age for Scotland. The European Space Agency established its latest Business Incubation Centre in the Royal Observatory in Edinburgh in 2018. Managed by the UK governmentfunded Science and Technology Facilities Council (STFC), it supports start-ups who are developing new products by using space and satellite technologies to gain their competitive advantage. “The Higgs Centre for Innovation brings together business incubation facilities and laboratories suitable for commercial use with world-class research in astronomy and particle physics and the instrumentation expertise that underpins it,” explains Professor Gillian Wright, Director of the UK Astronomy 8–

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Technology Centre, who heads the Higgs Centre for Innovation in Edinburgh. “Scientists, engineers and students interact and collaborate to improve our understanding of the universe and will engage with companies to drive technological advancement forward.” Space research has relied on data from satellites that were partially engineered here in Scotland’s universities, and software analysis that Scotland also helped to develop and advance. “Scotland has been helping to lead technology in space since the first satellites were launched,” Professor Wright adds. That expertise is internationally regarded in ‘new space’ parlance. New space relies on the democratisation of commercial space applications using smaller and cheaper satellites, which deliver more accurate data for analysis and commercial application. And new space genuinely has Scotland on the brink of a commercial opportunity that could generate thousands of highly skilled, high earning jobs over the next decade – with Edinburgh at its centre. UK government estimates suggest a potential benefit to Scotland’s economy of £4bn by 2030. “New space will have applications and implications in and for Big Data and supercomputing; energy and environment; life sciences and healthcare; and advanced engineering and materials,” says Professor Wright. “All fields where Scotland has expertise that is globally acknowledged.”

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One missing link, until now, has been access to a local launch facility, which would bring additional cost savings for potential clients. “A definite help, but not in itself an essential requirement for that economic benefit to flow,” says Peter Young, a member of the Scottish Space Leadership Council, which now promotes the sector’s message to governments and global investors. In 2018, that gap narrowed significantly, with the UK government naming the A’Mhoine peninsula in Sutherland as the preferred site for a proposed £17m Scottish spaceport. Over the next ten years, 2,000 satellites could be launched from the site. Highlands and Islands Enterprise is developing the project and committing £9.8m of funding, with another £31.5m from the UK Space Agency. The peninsula could see a vertical launch site in operation for micro communication and earth-observation satellites

by 2021. Two other potential sites in the Western Isles and Shetland are also under consideration for a commercial launch by 2021. “Scotland is ideally placed for these commercial launches, which will characterise ‘new space’,” says Steve Lee, CEO of Astrosat, the Edinburgh-based company that is already a highly skilled developer of Earth Observation products and services. It aids national governments and global organisations in smart decision-making: “We’re experts at sourcing, analysing and deploying satellite driven data,” explains Lee. “Everything from regional geology maps to global weather data. A long list of global clients now rely on our data and analysis to support critical issues.” Earth observation satellites require a polar orbit, and Scotland offers a perfect launch point for the ‘cube sats’ that typify earth observation data gathering.

Steve Lee, CEO of Astrosat.

“Scotland is ideally placed for these commercial launches, which will characterise ‘new space’.”

The Higgs Centre for Innovation

“Scotland can be a global beacon for technologies applicable across new space.” 10 –

The Higgs Centre for Innovation at Edinburgh’s Royal Observatory is the first single business incubation centre to be backed by the European Space Agency, the UK Space Agency and the Genevabased European Organization for Nuclear Research, known as CERN. The purpose-built laboratories allow start-up companies direct, affordable and flexible access to cutting-edge equipment, eliminating the need to develop, buy or pay prohibitively high prices to use research and development capabilities. The continually expanding range of facilities will create one of the most comprehensive suites of micro-satellite and nano-satellite testing equipment available. One of the first businesses to be supported is Craft Prospect, headed by Steve Greenland, a space systems engineer who is now exploiting big data and using artificial intelligence and IP-protected software to create more efficient missions for future satellite launches. “Our first engineering models are already in testing, and the business mentoring we’ve had at the Higgs Incubator has been invaluable

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The Higgs Centre for Innovation at Edinburgh’s Royal Observatory.

in helping us develop a solid business case, which gets us in front of potential clients. For example, current cryptography can be attacked, but we can create safe nodes in space using cube sats, to make communications more secure. We’re now talking to major telecomms companies about the applications.” Steve has already had support from financial backers based in Edinburgh, and the access to experts and networking nurtured through the Higgs Centre – and Scotland’s space sector generally – is another benefit Edinburgh offers. “The Incubation Centre has undoubtedly accelerated our

commercial development,” says Steve. “We’re about mitigating mission risk using AI, and the networking has been incredibly useful. Scotland can be a global beacon for technologies applicable across new space. I can’t think of anywhere in the UK better for us to be located.” The Higgs Centre for Innovation has now worked with space companies across Scotland to bid for funding under the Strength in Places Fund. Led by UK Research and Innovation, this is a new competitive funding scheme, which takes a place-based approach to research and innovation to support regional growth.

We’re developing an orbital launch vehicle that is capable of taking satellites with a combined or individual weight of around 320kg to an altitude of

500km

These are generally the size of a package a courier might deliver to your door, rather than the shipping container-sized satellites that historically would have been loaded into the Space Shuttle. These cube sats have a huge range of commercial applications, and a six-year waiting list for launch dates. That has led to the launch of Skyrora, an Edinburgh-based startup established in 2017. It has had to move office once already, due to the expansion of its team (now 30+), as it prepares for its first commercial launch either using Scotland’s new spaceport or from an alternative launch site. It has signed Letters of Interest with eight potential clients who all want to launch within five years, including AAC Clyde Space, QinetiQ Space, Astrofein and EnduroSat.

viability of the company’s portable ground control systems, trajectory analysis and ability to capture the launch with on-board high definition cameras. The firm already has two more developmental launch vehicles, one capable of reaching 100km altitude, built and ready to launch in 2019. “For us, the next few years are all about taking careful steps to de-risk and gain experience, as we quickly evolve through sub-

“You can shop here for everything you need. This is the only place in Europe where that’s possible, and Edinburgh is the gateway.” “We’re developing an orbital launch vehicle that is capable of taking satellites with a combined or individual weight of around 320kg to an altitude of 500km,” explains Daniel Smith, Director of Business Development. As propellant, Skyrora plan to uses a mix of hydrogen-peroxide, a strong oxidizing agent, and Ecosene – a type of kerosene derived from unrecyclable waste plastic. “The mix will offer a smoother, cleaner burn, while also allowing the vehicle to be storable for days or weeks at a time on the launch-pad, critical when one wants to launch from the north of Scotland where weather delays are to be expected!” Smith explains. Skyrora has already launched a prototype of its rocket, in August 2018, which demonstrated the

orbital tests towards our future orbital launch ambitions.” The commercial activity bubbling across Scotland is built on the strengths in its universities and engineering supply chain. “Central Scotland is a space high street,” says Astrosat’s Steve Lee. “You can shop here for everything you need.” “This is the only place in Europe where that’s possible, and Edinburgh is the gateway. Our intention is to grow a group of companies under the Astrosat banner. The opportunity to work with others is Scotland’s greatest strength. It’s now accepted that space offers a solution to any problem and our customers advertise the benefits we bring. Edinburgh is the place to be, and the door is open!”

Research – nimble and responsive “Scotland reflects everything that new space stands for, and Edinburgh has core expertise in all the necessary skills,” says Peter Young from the Scottish Space Leadership Council. “We are nimble and can respond quickly to investment, bringing products to market incredibly quickly through access to all the necessary skills.” Examples from Edinburgh include: 1. Heriot-Watt University is heading up the development and feasibly testing of the ground-receiving technology for encrypted quantum communications (QKeD), a type of secure communication method from space. It addresses many issues of data vulnerability such as hacking or eavesdropping. 2. The Edinburgh Centre for Robotics is involved in: • FAIR-SPACE. Funded by the UK Government, its mission is to develop robotics and artificial intelligence technologies for enabling cheaper, more robust space missions across a range of applications and domains. • Valkyrie, a humanoid robot, is being developed for predeployment to Mars, as part of a collaboration with NASA and the Johnson Space Centre in Houston. • ANYMAL is a quadruped robot platform being researched for anywhere involving hazardous environments: space, nuclear, oil and gas platforms, mines as well as extra-terrestrial exploration on Mars or asteroids. 3. The Bayes Centre at the University of Edinburgh is looking at research into control and measurement of gait assistance using exoskeletons. 4. The International Center for Earth Data (ICED) was launched in 2018. This joint venture between the University of Edinburgh and Orbital Micro Systems, an American small satellite technology provider, will gather, process and deliver weather information from public and commercial sources for researchers, governments and commercial enterprises around the world.

January / April 2019 – 11

ROUND TABLE: For the first time, the UK Space Agency, European Space Agency and CERN Technology have all supported a single business incubation centre – The Higgs Centre for Innovation in Edinburgh. We ask six of those closest to Edinburgh’s space tech community why the city is now becoming a hub for the space industry.

PROFESSOR GILLIAN WRIGHT,

DIRECTOR, UK ASTRONOMY TECHNOLOGY CENTRE

GARY DAVIES,

CEO, ECOMETRICA

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DANIEL SMITH,

DIRECTOR OF BUSINESS DEVELOPMENT, SKYRORA

PROFESSOR PHILIP BEST, HEAD

STEVE LEE,

CEO, ASTROSAT

PROFESSOR SETHU VIJAYAKUMAR,

OF THE INSTITUTE FOR DIRECTOR, THE ASTRONOMY, UNIVERSITY EDINBURGH CENTRE FOR ROBOTICS OF EDINBURGH

PROFESSOR GILLIAN WRIGHT explains why Edinburgh is the right place for the Higgs Centre for Innovation. “It was in discussions with the Science Technology Facilities Council that the idea for the Higgs Incubation Centre emerged. The strength it offers through combining academic research, engineering expertise and support for the development of commercial opportunities in space was a perfect mechanism to mark the award of the Nobel prize to Professor Higgs and create a hub for the space technology sector. “Edinburgh is the perfect place – it has academics, engineers, data scientists, experts in nanotechnology: all the skills that apply to the next generation of space technology. As head of the Astronomy Research Council’s Astronomy Technology Centre here in Edinburgh, I don’t want my engineers to live in an academic bubble. Interaction between research for science and commerce is a creative zone for everyone. My engineering skills will be enhanced, just as we can benefit commercial companies with solutions to their practical problems.” DANIEL SMITH explains why Edinburgh is seeing a critical mass emerging in space technology. “We have had to move office already, as we’ve grown quickly in numbers. We’ve been able to recruit directly from the University of Edinburgh and attract expert staff – who could work anywhere in the world – to join us here. “Edinburgh is a strong sell. There’s an amazing community of expert companies

across the supply chain and the city offers great connectivity to customers across Europe and the rest of the world. Whatever expertise isn’t in the city itself, is found within a short distance, and as each week passes the benefits and underlying logic behind the decision to locate here are reinforced. This is the place to be.” STEVE LEE on how Edinburgh connects Astrosat to global markets. “We’ve been exporting from the get go and Edinburgh has always been an advantage for us. For a start, we have the entire supply chain on our doorstep. And our customer base has always been global, so when it comes to selling abroad, Scotland and Edinburgh are key assets. The relations we’ve developed come about through conversations, and these can be had just as easily, but more enjoyably, during a relaxed sightseeing tour of Skye or Glencoe as in a conference room. Those assets are on our doorstep, but so too are our customers now, with the increasing connectivity from Edinburgh Airport. All the European Space Agency hubs are direct flights, as are New York, Washington and Boston; and the newly introduced Qatar flight is great: now all our customers are, at most, two hops on a plane. Personally, I’d love to add a direct flight to Atlanta, which would open up Texas and Alabama.” GARY DAVIS highlights Edinburgh’s unique expertise in data analytics and geospatial science. “We are very lucky to have a lot of good data scientists here in Edinburgh - most notably at the University of Edinburgh, but also elsewhere. We employ some of these scientists directly as they graduate, but we also partner with the University, giving us tremendous flexibility and strength as we seek new projects. We subcontract large amounts of complex scientific work to the University - for example, from our Forests 2020 project for the UK Space Agency. “Having that expertise and capacity available close by gives us great confidence when discussing requirements with new clients: we know we can deliver a lot, if needs be. In another city, I think that would be difficult. It’s also good for the University, as it brings in revenue and proves the commercial applicability of its research.

“Since the early 2000s there have also been a number of spin-out companies, and this in turn has brought more people to the city with very specific and interesting expertise.”

“Having that expertise and capacity available close by gives us great confidence when discussing requirements with new clients: we know we can deliver a lot, if needs be.” PROFESSOR PHILIP BEST explains how data analytics is unlocking the secrets of the universe. “As well as direct opportunities for space-technology development, the Higgs Centre for Innovation offers an exciting capability for knowledge exchange between academics and industry on Big Data – the use of large sets of information to draw meaningful inferences. Astronomy is currently undergoing a data-driven revolution, in which the ability to derive new scientific results is, to a large extent, driven by the ability to manage and exploit the wealth of data. “New survey telescopes at radio, optical and infrared wavelengths are – or soon will be – producing astronomical data at rates of tens of terabytes per day. Conveniently, these data are free of any concerns around privacy or commercialism, and so are ideal for the development and testing of new technologies and algorithms. “The University of Edinburgh’s Institute for Astronomy has long been at the forefront of survey astronomy. Its Wide Field Astronomy Unit (WFAU) is responsible for processing and curating some of the largest astronomical datasets, and providing these to the world-wide community. WFAU is co-located in the Higgs Centre for Innovation building alongside the Business Incubation partners, to enhance interaction and encourage a fruitful two-way interchange of knowledge and experience on Big Data.”

PROFESSOR SETHU VIJAYAKUMAR points to the critical mass in multi-disciplinary skills necessary to deliver worldleading robotics. “The Edinburgh Centre for Robotics combines the complementary academic expertise of the University of Edinburgh (UoE) and Heriot-Watt University (HWU). The recent opening of the Bayes Centre (UoE) gives us worldclass equipment that no other Institute in the UK can match, making us one of the leading centres for robotics in the world. The national robotarium (HWU) under construction, funded through the Edinburgh City Region Deal, will further enhance this capability. “That offer, combined with the first phase of the EPSRC Centre for Doctoral Training in Robotics, gives us the critical mass we need in areas as diverse as mechanical engineering, machine learning, artificial intelligence and cyber security, to deliver groundbreaking research into robotics. We’ve just completed the fifth and final intake into the Centre for Doctoral Training, which gives us a cohort of over 70 PhD postgraduates working across all fields of robotics. We’re waiting to hear on our renewal bid for the second phase. “It’s not just good science in isolation. The Bayes Centre also expands our Living Lab space, where researchers can make use of equipment and facilities to collaborate with end users and industry – a prime example being our collaboration with the NASA Johnson Space Centre on the Valkyrie humanoid platforms aimed at pre-deployment missions to Mars. Such efforts will drive practical applications in the real world, many of which will be key to commercialising and reducing the costs associated with space exploration.”

“The national robotarium (HWU) under construction, funded through the Edinburgh City Deal, will further enhance this capability.”

January / April 2019 – 13

MADE IN EDINBURGH Summary: The recent acquisition of Edesix by California-based Vigilant Solutions, now part of technology giant Motorola, will enable the business to expand into international markets. www.edesix.com Having grown and sold two previous startups in Edinburgh, serial entrepreneurs, Richie McBride and Robin Iddon leveraged an established team to launch Edesix in 2002. Since opening its first office in the city, the company has gone on to become one of the world’s leading manufacturers of body worn video camera technology, working with customers including ScotRail, national police forces, the UK Prison Service and the US Marine Corps. “We started looking at body worn camera technology as a way of launching our own product in 2010,” explains Richie, CEO. The result was VideoBadge, a wirefree video system that encrypts footage, enabling content to be downloaded into Edesix’s proprietary VideoManager software for review and sharing with industry partners. “Edinburgh gives us a strong talent base to tap into. All our software and hardware is developed and manufactured in Scotland,” says Richie. “It enables us to have a compact supply chain and be more responsive to customer orders.” Ritchie says the Edesix team is exceptionally pleased to be part of a

world-class company like Motorola, which acquired Vigilant owner, VaaS International Holdings, in a $349m deal through its Motorola Solutions business. The deal will enable Edesix to leverage an established US-based sales presence and strengthen its wearable security solutions globally. Edesix expects to expand its 45-strong team, with additional sales and software development roles added in Edinburgh.

“Aside from traditional law enforcement applications, body worn camera technology is an incredibly versatile product,” Richie adds. “Recent innovations include live streaming via 4G or WiFi, which can be integrated into CCTV control centres. We’re also piloting technology with Waitrose and Yale to enable home delivery drivers to activate a one-time code enabling home entry, all recorded on video so customers see deliveries when they’re away from home.”

NEW ARRIVALS: www.modulrfinance.com

WHO ARE THEY? Founded in early 2016, Modulr has quickly established itself as the Payments as a Service API platform for digital businesses. Integrated into any product or system, Modulr’s new type of payment accounts are built for businesses that need a faster, easier and more reliable way to move money. WHAT DO THEY DO? Businesses across alternative lending, payments, fintech, travel, accountancy, marketplaces and payroll services need to be able to take, manage and make payments

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quickly and easily. But traditional payments infrastructure is complex, inefficient and built on legacy platforms. Modulr works with banks, regulators, payment schemes and payment methods to simplify it. Modulr is authorised and regulated by the FCA as an Electronic Money Institution, so it can can issue accounts with sort codes and Euro IBANs and access existing payments services – Bacs, CHAPS, Faster Payments and SEPA. The system is built on a secure platform with multi-factor authentication, activity observation and regular penetration testing. Getting paid, reconciling and making payments is fully automated and can be managed in real-time, 24/7 through its software applications.

WHAT DOES THEIR ARRIVAL MEAN FOR EDINBURGH? The expansion into Edinburgh is further evidence of the city’s growing reputation as a place where ambitious technology and fintech businesses need to be. The London-based firm is looking to reach over 100 employees across both its Edinburgh and London offices, with over 30 jobs created in Edinburgh. The city’s acknowledged talent pool helped Edinburgh beat competition from across Europe, facilitated further by the local presence of Fintech Scotland and support from Scottish Enterprise. As it continues to build and embed, Modulr’s Edinburgh team will be central to the growth plans of the business as it seeks to extend its service offer to current and potential customers.

Capital focus

INVESTMENT HELD KEY TO A BOLD VISION Since its completion as part of the £35m extension to the Edinburgh International Conference Centre (EICC), the Lennox Suite has become central to the city’s global reputation for delivering world-class events. www.eicc.co.uk

60%

of major events are secured through repeat business, with clients identifying the EICC’s outstanding facilities

The newly expanded EICC officially opened in May 2013, when it welcomed 2,000 delegates from around the world to the International Investigative Dermatology Conference – an event which could not have been held in the city without the addition of the Lennox Suite. The versatile space has since gone on to establish itself as being core to the EICC’s offering to international association conferences, and a spectrum of events. The design of the Lennox Suite achieved recognition as the world’s first event space to feature a hall-wide moving floor mechanism, which together with the overhead tension wire grid, offers event organisers unprecedented flexibility in the design of their events. The impressive use of technology allows the space to be reconfigured from a flat-floored exhibition space into a raked theatre for 2,000 delegates, an arena for 1,400 attendees or a tiered cabaret layout for 700 dinner guests. The high-spec tech offering also provides vast opportunities to create dynamic stage sets, and programmable LED lighting enables the entire venue to be branded for specific events. Since the Lennox Suite opened, the EICC has seen the number of major events grow from 100 in 2014 to 178 in 2017, harnessing economic impact of £56.7m for Scotland’s capital in 2017. Commenting on the success of the Lennox Suite, Cllr Kate Campbell, Convenor of the Housing and Economy Committee said: “Important facilities, like the new Lennox Suite, are crucial to the success

of Edinburgh as a thriving, diverse and innovative city and supporting our reputation as a centre for major events.” On the increase in business, Marshall Dallas, EICC Chief Executive, said: “Achieving such growth would not have been possible without the opening of the Lennox Suite, and to ensure the success of our expanded venue, we made some significant business improvements centered around new sales and marketing initiatives. More recently, we refreshed our company vision, to reflect the business that we are today. The new vision, ‘to create an environment which inspires ideas that change the world’, represents our ambition for staging truly meaningful and engaging events for our clients.” Today, 60% of major events are secured through repeat business, with clients identifying EICC’s outstanding facilities, the event team’s eye for detail, the ‘wow factor’ and the city of Edinburgh itself among deciding factors for returning year after year. Five years since it first opened its doors, the Lennox Suite continues to help the EICC attract new clients, increase yield from existing events, boost occupancy levels across the entire venue and help to diversify the Conference Centre’s customer base. In doing so, it has played a pivotal role in Edinburgh being ranked the highest UK conference destination outside of London by global industry body, the International Congress and Convention Association. January / April 2019 – 15

Capital connections

NEW EDINBURGH DATA CENTRE OF EXCELLENCE AIMS TO BE GLOBAL GAMECHANGER Summary: A new global data centre being described as a ‘world first’ is being proposed for Edinburgh.

The proposed Global Open Finance Centre of Excellence, to be based at the Edinburgh Futures Institute, will drive data-driven innovation and help solve real world problems. The Global Open Finance Centre of Excellence would allow financial firms and fintechs to test new products and train algorithms in a ‘digital sandbox’ of anonymised customer data hosted on super computers at the University of Edinburgh. The centre’s ‘Global Economic Observatory’ would also help economists, governments and policymakers to develop policy interventions by observing how people earn, spend and interact with their money over time.

“It’s Scotland leading the world in developing a centre of excellence that has the potential to have a global impact.” Stephen Ingledew, Fintech Scotland

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GLOBAL REACH “For example, if interest rates change, who does it really affect and by how much?” explains Gavin Littlejohn, Chairman of the Financial Data and Technology Association and previously Founder of the Edinburghbased fintech, Money Dashboard. “If you have quantitative easing or an intervention to stimulate competition, you will see how it actually impacts different areas of the market at a really granular level – even before the action takes place.” It would be the first time an amalgamated list of customer transactional data, contributed by financial firms and fintechs, has been available on this scale and with these service offerings, Littlejohn says. “Individual banks have their own customer data – but our datasets saddle different forms of credit, investment, current accounts and savings products,” he adds. “And they link across different markets, brands and geographies, to enable us to observe how people transition through different life stages.”

SOCIAL AND ECONOMIC GOOD Key aims are to help tackle social and economic issues including access to credit and how population growth is impacting on property prices, widening the gap between renters and homeowners. The centre would also explore ethics issues around privacy, and look to develop international standards around open banking, which allows banks to share their data with third party providers. Initial partners in the proposed Global Open Finance Centre of Excellence are Fintech Scotland, which aims to secure Scotland’s place as a top five global fintech centre, the University of Edinburgh and the Edinburghbased Financial Data and Technology Association, a global trade association focused on open finance. “Edinburgh is already recognised as a global financial services centre and the second biggest in the UK outside of London,” says Fintech Scotland Chief Executive Stephen Ingledew. “So we’re building on that heritage of a large financial services centre and a place which is entrepreneurial and innovative. You’ve got Heriot-Watt, Edinburgh and Napier universities all doing very exciting things in this space with technology and data. Then you’ve got a very positive, enlightened and progressive culture, which ties in the potential for societal as well as economic benefits. It’s Scotland leading the world in developing a centre of excellence that has the potential to have a global impact.”

Added extras

EDINBURGH SWITCHES ON THE EV REVOLUTION

Transport is evolving rapidly. The popularity of electric and plug-in hybrid vehicles is growing by the day. Edinburgh’s Electric Vehicle Action Plan has been developed to address the strategic infrastructure planning essential to meet with consumer demand. With more than 160,000 drivers in the UK now benefitting from electric motoring, the pace of change in how we choose to travel is accelerating. After many false dawns, cheaper battery prices coupled with ever-improving vehicle range and charging infrastructure are combining to persuade even the most sceptical of petrol-heads that electric vehicles are the way forward. Helping to support this revolution in Scotland is an ambitious plan recently announced by The City of Edinburgh Council, which partnered with the Energy Savings Trust (EST) to assess future demand for charging infrastructure across the city. Edinburgh is already home to more than 23% of all licensed electric vehicles in Scotland, but that figure is expected to grow exponentially to more than 10,000 vehicles by 2023. While most of those vehicles are expected to be plugged-in to overnight home charging infrastructure, EST research revealed the city will need to install 211 new charging points at a cost of £3.4m over the next five years.

“According to the Energy Saving Trust, a typical family car driving 10,000 miles on petrol or diesel, costs between £1,200 – £1,500 each year to fill up. That cost drops significantly to as little as £200 – £300 each year for an electric vehicle.”

The majority of publiclyavailable charging points will be ‘fast chargers’ delivering on-street residential charging, additional charging facilities for taxis and at park and ride sites. These rapid chargers, now found at 96% of motorway service stations, can charge the average electric car to 80% in as little as 30 minutes. The environmental benefits are significant in terms of air quality, helping to save 7,715 tonnes of carbon and eliminate more than 14 tonnes of nitrogen dioxide by 2023. The recommendations set out by the EST follow the innovative zonal approach outlined in Edinburgh’s Electric Vehicle Action Plan, which will see infrastructure installed in three strategic charging zones: Zone 1 (City Centre), Zone 2 (Residential areas) and Zone 3 (Peripheral – e.g. Park and Ride sites). Under the Plan, 68 locations across the city have been identified as strategic charging hubs. In order to help deliver this investment, the Council has applied to Transport Scotland’s Switched On Towns and Cities fund for £2m of funding.

For further information please visit: www.goultralow.com www.edinburgh. gov.uk/news/ article/2408/ innovative_electric_ vehicle_charging_ zones_planned_for_ edinburgh_in_ scottish_first

January / April 2019 – 17

The CityFibre and Commsworld stall at EUROCITIES.

EUROCITIES Young Ambassadors (L to R) Pedro Roque Domingues, Andreea Camen and Iiris Suomela take part in a debate.

EDINBURGH

WELCOMED MAJOR EUROPEAN CITIES FOR EUROCITIES 2018: Creative Competitive Cities

Culture has a strong role to play in driving successful, inclusive and prosperous cities 18 –

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EUROCITIES Secretary General Anna Lisa Boni welcoming delegates to the event.

Adam McVey opening the Gala Dinner and EUROCITIES Awards at Edinburgh’s National Museum of Scotland.

More than 500 delegates from 126 cities came to Edinburgh in November for the 2018 conference of EUROCITIES, the city network representing 130 million citizens across 39 European countries. Adam McVey, Leader of The City of Edinburgh Council, welcomed delegates to the event, which focused on Creative Competitive Cities. “Culture is absolutely at the heart of what our city has become,” McVey said. “We are the festival city – a city with 4.5m people coming here every year to enjoy what we have to offer.” Edinburgh was not only the birthplace of the Enlightenment in the 18th century but is continuing to push frontiers with the vision of becoming the data capital of the world in the next ten years, and by investing £1.3bn in an ambitious city region deal, he added. The conference opened with keynote speaker Charles Landry on The Creative City, and saw the EUROCITIES Presidency pass from Daniel Termont, Mayor of Ghent, to Anna König Jerlmyr, Mayor of Stockholm. Parallel Creative Conversations took place on how culture and creative industries can shape and innovate cities, and there was plenty of opportunity to showcase Edinburgh projects. Tying in with Scotland’s Year of Young People 2018, Scotland’s First Minister Nicola Sturgeon shared the stage with representatives of 70 Young Ambassadors from over 50 cities, invited by Edinburgh to help shape the conference. Young Ambassador Gabriel Pritz, 18, is a law student at The Humboldt University of Berlin. Asked what Berlin could learn from Edinburgh, he felt Edinburgh

The mayors of Edinburgh, Ghent and Stockholm were the first to sign the EUROCITIES Declaration on Citizens’ Engagement at the event. This pledges to create a more citizenfocused Europe with more active youth participation in decision making.

International Festival was a great model. “In Berlin, there is no festival that occupies the whole city and covers different kinds of art,” Pritz said. “I think it’s a good thing that all the city celebrates this festival.” Another Young Ambassador, Nicole Barkijevic, 18, a student from Malmö in Sweden, felt Edinburgh could learn from Malmö’s approach to giving students a voice. “There are two types of student council in Sweden,” she explained. “It means students have an important voice and really get heard.” Bart Doucet, a cultural adviser from Ghent, said he would like to learn from the way Edinburgh raises money for its festivals. Edinburgh in turn could learn from interdepartmental collaboration in Ghent. “There is close collaboration between our culture and economic departments and a very good exchange of ideas and projects,” he said. These include the Ministry of Makers, an online platform that connects creative entrepreneurs. On EUROCITIES, Doucet added: “It’s very important to have these sorts of events in your city to open up to Europe, with or without Brexit.” The Spanish city of Valladolid was a finalist in the EUROCITIES Awards, which showcased outstanding achievements by member cities within the Creative Competitive Cities theme.

Valladolid co-ordinates CreArt, a network of 12 European cities that provide training and exhibiting opportunities for creatives. “Valladolid is smaller than Edinburgh, but in the context of European culture and development projects in art and culture, I think our collaboration and co-operation is very strong,” said Ana Redondo Garcia, the city’s Cultural and Tourism Councillor. Jean-Baptiste Mathieu, elected representative of the City and the Eurometropole of Strasbourg in France, said he was very impressed with Edinburgh’s gigabit revolution. “We have the same goal in Strasbourg and we’ve set up a digital strategy,” he said. Commsworld and CityFibre, who are collaborating to build an ultrafast full fibre network in Edinburgh, were platinum sponsors of EUROCITIES 2018. “Events like this are an excellent forum to evidence both the current and future capabilities of the city of Edinburgh as one of the top cities in the world,” said Commsworld Commercial Director Andy Arkle. Sophie Moxon, Executive Director at the Edinburgh International Book Festival, said Edinburgh’s creative sector was thriving, and added: “The EUROCITIES event is yet another confirmation of Edinburgh as a world-leading city, that is founded on collaboration and international dialogue.” January / April 2019 – 19

EDINBURGH AT A GLANCE The latest annual edition of Edinburgh by Numbers gives a statistical overview of how people live, work and visit our city. Some highlights are listed below. The full statistical overview is available at www.investinedinburgh.com/edinburgh-by-numbers People: 2007 - 2017

Skills

Economy

Edinburgh’s population grew by

Edinburgh has

9.9%

students enrolled in higher education institutions.*

(33,000) of working people employed in Edinburgh’s financial services and insurance sector, twice the UK city average.

60,500

12.5%

to 513,000 people.

63.9%

Edinburgh’s population increase was the

2nd

highest in the UK.

of the Edinburgh workforce in employment is educated to degree level or above – the highest in the UK.*

30.8%

Edinburgh’s working age population grew by

* (2017)

Keep up-to-date with the latest news via our monthly e-newsletter, new arrivals and social media feeds.

TAILORED SOFT LANDING SUPPORT

people employed in the digital tech economy in Edinburgh (2017).

April 2017 – March 2018 there were

Edinburgh has the highest proportion of international students in the UK.

12.2%

38,400

recorded foreign direct investments in Edinburgh, second highest in the UK outside London.

Also of interest: The Invest Edinburgh weekly blog provides insights into why companies chose Edinburgh through case studies that showcase the city’s diverse regional economy.

Every business, entrepreneur, developer or investor has unique requirements and expectations, which is why Invest Edinburgh also offers a tailored service designed to meet your needs. Contact invest@edinburgh.gov.uk All rights reserved. Material contained in this publication may not be reproduced, in whole or in part, without prior permission of the City of Edinburgh Council (OR OTHER COPYRIGHT OWNERS). Whilst every effort is made to ensure that the information given herein is accurate, no legal responsibility is accepted for any errors, omissions or misleading statements.