Invest Edinburgh (July- September 2014) by Invest Edinburgh

JULY TO SEPTEMBER 2014

INNOVATION CAPITAL

INSPIRING EXPLORATION AND DISCOVERY

ALSO INSIDE ISSUE 49 » NEW MEDICAL CENTRE OF EXCELLENCE » 10 QUESTIONS FOR TRIG AVIONICS » EDINBURGH’S TECH SCENE » DUKOSI CHARGING AHEAD » EDINBURGH DELIVERS FOR DPD

IN THIS ISSUE THE FIRST WORD

H 07 16

04 SNAPSHOTS

An update on what’s happening in Edinburgh

07 NEW ARRIVALS

DPD begins construction of a ‘super-depot’ in Edinburgh

08 10 QUESTIONS FOR…

Andy Davis, chief executive, Trig Avionics

10 (cover story)

INNOVATION CAPITAL:

Inspiring exploration and discovery

14 ROUND TABLE

What is behind Edinburgh’s reputation for innovation?

16 MAKING IT HAPPEN

Edinburgh’s technology scene is booming

17 ADDED EXTRAS

A city afloat: great things on Edinburgh’s waterfront

18 THE STATISTICS

The latest key indicators for the Edinburgh economy

ello and welcome to the latest issue of Invest Edinburgh. Edinburgh’s tram line launched on Saturday 31 May 2014, with around 25,000 passengers riding the trams on the first day. While the delivery of the tram line has undoubtedly been challenging, I am confident that the trams will help unlock the regeneration and development of neighbourhoods along the route. Capital Focus looks at the £165 million relocation of the Royal Hospital for Sick Children to the Edinburgh BioQuarter. As well as providing treatment for 36,000 people every year, the new hospital will further increase the concentration of medical researchers in the BioQuarter. In Made in Edinburgh we look at Dukosi, the developer of a new battery technology capable of boosting the range of electric vehicles by 15%. New Arrivals looks at DPD’s new 5,600m2 super-depot in Edinburgh, while precision engineering firm Premier Hytemp is this issue’s One to Watch. Our regular 10 Questions looks at Trig Avionics, an innovative company that develops specialised electronics for use in aviation. Chief executive Andy Davis discusses how Trig has made its mark in a fiercely competitive global market. In our cover feature, we look at how Edinburgh’s current crop of innovators is continuing the city’s legacy as a centre for excellence for scientific discovery, giving rise to numerous dynamic tech companies. Making it Happen looks at the compelling career opportunities within Edinburgh’s growing tech community, while Added Extras explores what the Edinburgh Waterfront has to offer. Finally, this issue highlights the redevelopment of the St James Quarter and the opportunities this project will create for occupiers and investors. This is a fantastic new development, which will transform the area at the east end of Princes Street, create thousands of permanent jobs – including many apprenticeships – and add £25 million to the Edinburgh economy each year. The St James Quarter is one of the ‘Edinburgh 12’, a dozen strategically significant developments in the city centre that the Council is working to help bring to fruition. Thank you for reading.

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COUNCILLOR FRANK ROSS, Convenor of the Economy Committee The City of Edinburgh Council editor@investedinburgh.com

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<CAPITALFOCUS © HLM Architects

ROYAL HOSPITAL FOR SICK CHILDREN

Work is set to begin this autumn on the new Royal Hospital for Sick Children, the latest development at the Edinburgh BioQuarter.

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The Royal Hospital for Sick Children – affectionately known as the ‘Sick Kids’ – opened at its current location in Sciennes in 1860. With the existing building reaching capacity, the decision was taken to relocate the hospital to a new site close to the Royal Infirmary of Edinburgh. Some services will also be relocated to the new hospital from the Western General Hospital and Royal Edinburgh Hospital.

“THE DEVELOPMENT WILL PROVIDE OPPORTUNITIES FOR SHARING EXPERIENCE, EXPERTISE AND RESEARCH.” © HLM Architects

Scheduled to open in the summer of 2017, the 30,000m2 hospital will provide 233 beds and nine theatres. Its facilities will include day case and inpatient areas, an outpatient unit, a critical care unit, an accident and emergency department, and an imaging suite. Other features will include a hotel for patients’ families, administration and teaching offices and a rooftop helipad. The design and décor of the hospital have been carefully selected to provide a non-threatening environment for children. A large recreational space dubbed ‘The Pod’ will host films, pantomimes and performances by Edinburgh Festival Fringe acts, while all children’s rooms will include a pull-down bed for parents to sleep over. In addition to treating children and young people, the £165 million facility will also house NHS Lothian’s Department of Clinical Neurosciences and Child and Adolescent Mental Health Service. In total, the facility will provide treatment for around 36,000 people each year. “The development will prove significant in shaping the future of care by bringing children’s, maternity and adult services together on the same site,” said Susan Goldsmith, director of finance at NHS Lothian. “It will build on the existing centre of excellence, creating a major trauma centre, and provide opportunities for sharing experience, expertise and research.”

CONSUMER ELECTRONICS GIANT SAMSUNG HAS REVEALED PLANS FOR A NEW ‘EXPERIENCE STORE’ ON PRINCES STREET. THE OUTLET WILL CARRY SAMSUNG’S RANGE OF SMARTPHONES, LAPTOPS, TABLETS AND OTHER GADGETS.

Integrated Health Solutions Lothian – a consortium of Brookfield Multiplex Construction Europe (construction), HLM (architecture), Macquarie Capital Group (finance) and Bouygues E&S FM UK (facilities management) – will design, build and maintain the new facility. The project marks the first time an acute hospital facility has been procured under the Scottish Government’s Non-Profit Distributing model. The new hospital is the latest addition to the BioQuarter, which already houses the 900-bed Royal Infirmary of Edinburgh, the principal teaching hospital in southeast Scotland, along with the medical school of the University of Edinburgh and clinical and commercial medical research laboratories. The relocation of the Royal Hospital for Sick Children to the BioQuarter will reduce the need for emergency transfers between hospitals, and create significant new opportunities for interdisciplinary research. With the opening of the new hospital in 2017, there will be more than 2,000 researchers based at the BioQuarter, reinforcing its status as a globally leading hub for medical research.

www.bioquarter.com

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1 TO WATCH PREMIER HYTEMP

MUNICH TWINNING ANNIVERSARY This year celebrates the 60th anniversary of the Edinburgh-Munich twin city relationship, the oldest twinning relationship of both cities. A variety of activities are taking place this summer to celebrate the close relationship enjoyed by the two cities and acknowledge the excellent partnership working that has taken place. Only two hours away by plane, Edinburgh has excellent connections to Munich, with daily flights during the summer, and four flights a week during the winter. Munich and Edinburgh have many economic similarities, which allow for excellent partnership working, knowledge exchange and sharing of good practice. Both cities are popular tourist destinations with a tradition of festivals. Bavaria is the number one location in Germany for insurance and number two for banking. Likewise Edinburgh, after London, is the UK’s leading financial centre with organisations such as the UK Green Investment Bank choosing to base their headquarters in Edinburgh. An excellent example of the twinning relationship in action is the EU-funded LEONARDO programme. LEONARDO facilitates knowledge exchange and transfer through allowing officers from Edinburgh and Munich to spend time working in each others economic development departments.

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Edinburgh also attends the annual ExpoReal in Munich. Edinburgh was the first UK city to attend the real estate fair and officials work closely with the Munich investment team to help promote Edinburgh as an investment location and, equally, to promote opportunities for Munich businesses in Edinburgh and Scotland. The twinning celebrations included a civic visit to Munich at the end of June, headed by the Deputy Lord Provost. As well as this, for four weeks in May, Edinburgh showcased its finest food and drink at the Viktualienmarkt, a gourmet food market situated in the centre of Munich. Edinburgh Gin, Creelers, Chillilicious and Rabbie’s Trail Finders shared an Edinburgh stand which highlighted the outstanding variety of food and drink specialists Edinburgh has to offer. The celebrations have been personally welcomed by HM Queen Elizabeth II, who commented, “I am delighted that the Diamond Jubilee of the city partnership between Munich and Edinburgh is being commemorated at the Queen’s Birthday Party in Munich. The friendship between these two great cities over the last 60 years has done much to deepen the bonds between the UK and Germany at many levels.” > Find out more: e: leon.johnson@edinburgh.gov.uk

WHAT DOES IT DO? Premier Hytemp is a leading manufacturer of quality engineered alloy components for the offshore and onshore oil and gas industry. It supplies specialised alloys and complex forged, precision-machined and heat-treated components, serving a wide range of additional market sectors including shipbuilding, renewable energy, nuclear and water processing. Based in the industrial suburb of Newbridge, next to Edinburgh Airport, the company has manufacturing facilities in Edinburgh and Sheffield, with overseas operations in Canada, Singapore and the United Arab Emirates. WHY IS IT WORTH WATCHING? Premier Hytemp is one of a few companies within its sector that has the requisite engineering skills, customer approvals, certifications and geographical reach to meet the increasingly demanding needs of its global customer base. Following a management buyout in December 2012, backed by investment house Dunedin, the company has more than 200 employees worldwide and has a strong heritage of engineering excellence. It also operates Singapore’s largest steel heat treatment facility, which has recently been expanded with a new furnace and quench tanks. In March 2014, the company announced a major expansion after winning new business worth £25 million, with plans to create up to 100 new jobs over the next three years. In April, oil industry veteran Campbell MacPherson joined the firm as its new chief executive. WHAT DOES IT MEAN? Dunedin has a strong track record in building niche industrial companies and growing these businesses both in the UK and overseas. The market for Premier Hytemp’s products is growing strongly, driven by unceasing global demand for oil and gas and significant investment in new oil wells. The company is ideally positioned to expand its capabilities, geographic footprint and product offering. > Find out more: www.premierhytemp.com

THE FARR INSTITUTE OF HEALTH INFORMATICS RESEARCH HAS OPENED A NEW RESEARCH FACILITY AT THE EDINBURGH BIOQUARTER.

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STEM CELL RESEARCH

LIFE BLOOD OF INNOVATION A team of researchers in Edinburgh is to be the first in the world to trial synthetic blood. Last year, the Medicines and Healthcare products Regulatory Agency granted a licence for researchers based at the Scottish Centre for Regenerative Medicine (SCRM) in the Edinburgh BioQuarter to test blood made from stem cells in adult humans. The first volunteers are expected to begin the trial by 2016. The project is a joint initiative by the University of Edinburgh, the Scottish National Blood Transfusion Service and Roslin Cells, a leading supplier of clinical grade stem cells. The research, which also involves blood donation services in England and Ireland, is being funded with an award of £5 million from the Wellcome Trust charity. If successful, the trial could pave the way for the wide-scale use of artificial blood derived from stem cells, which has the potential to end blood donation shortages and prevent infections being passed on through donations. Blood created in this way would also be free from contaminants such as viruses or rogue prion proteins causing Creuzfeldt-Jakob disease. Over 100 million units of blood are transfused each year, around 60% of which go to recipients in the developed world. Developing regions such as sub-Saharan Africa typically have very limited stocks of blood available for transfusions. In developed countries, ageing populations and projected rises in the number of chronic and degenerative diseases over the coming decades are likely to increase demand for blood at a time when there will be fewer donors around. The pilot study will involve a small number

of people including both healthy volunteers and patients suffering from red blood cell disorders such as thalassaemia. They will receive a small dose of laboratory-made blood to see how it behaves and survives in their bodies. The aim is to produce the relatively rare O rhesus negative blood that can be given safely to 95% of the population. “Although similar research has been conducted elsewhere, this is the first time anybody has manufactured blood to the appropriate quality and safety standards for transfusion into a human being,” said Professor Marc Turner, medical director at the Scottish National Blood Transfusion Service. “If we can achieve success with this first in-man clinical study it will be an important step forward to enable populations all over the world to benefit from blood transfusions.” Work now begins at the SCRM’s new GMP* Cellular Therapy Manufacturing Facility to prepare for the trials. Blood cells freshly made in the laboratory are likely to have a longer life span than those taken from donors, which typically can be stored for just 120 days. > Find out more: www.scotblood.co.uk

Edinburgh-based biopharmaceutical firm NuCana BioMed has raised £34 million of investment to fund the development of new anti-cancer drugs. Film Edinburgh and VisitScotland have launched a new ‘movie map’ highlighting 32 locations around Edinburgh that appeared in blockbusters such as Chariots of Fire, Trainspotting and The Da Vinci Code. The map can be downloaded from www.visitscotland.com/edinburghfilmmap. A student at Edinburgh Napier University has developed a new app for smartphones and tablets that will give farmers in remote regions of Cambodia easy access to data on weather, crop prices, soil types and other vital information. The Attis app was developed by Neil Stewart on behalf of the Food and Agriculture Organization of the United Nations. The Royal Commonwealth Pool has been named one of the world’s top 10 swimming pools by travel guide Lonely Planet. Property developers Mactaggart & Mickel and Buccleuch Property are to deliver a new urban quarter to the southeast of Edinburgh over the next 15 years. The Shawfair development will provide 4,000 new homes, three new schools and 90,000m2 of commercial and retail space, with a direct rail link to Edinburgh city centre. No.1 Traveller has opened a new departure lounge at Edinburgh Airport offering passengers amenities such as a range of seasonal dishes, a complimentary pantry table, a fully stocked bar, workspaces for business travellers, and a travel concierge service. The University of Edinburgh has helped discover a new species of dinosaur, Qianzhousaurus sinensis. The nine metre-long carnivore, which roamed Asia 66 million years ago, was formally identified by Dr Steve Brusatte of the university’s School of Geosciences.

*Good manufacturing practice www.investedinburgh.com

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MARKET-MAKING IN THE CITY This summer, a pop-up market appeared in Waverley Station, one of the UK’s busiest railway hubs. Recalling the area’s historical role as Edinburgh’s fruit and vegetable market, LocalMotive Markets marked the latest stage of Waverley’s multi-million pound redevelopment by organising a weekly market – dubbed ‘Platform 2’ – within the station. With 22 million people using the station every year, the several dozen stalls had no shortage of customers. The market featured crafts from local designers, ethically sourced gifts, Scottish produce and hot food, as well as an art fair and vintage clothing events.

Among the local traders represented were Seriously Good Venison, Pink Pig Art, Edinburgers, Fern Glass and the Eden Brewery. Platform 2 is just one example of the city’s offering. Local markets take place every week in Balerno, Grassmarket, Morningside, Portobello, Stockbridge, St Mary’s Church on Princes Street and St Mary’s Cathedral at the top of Leith Walk. Complementing these, is the awardwinning Edinburgh Farmers’ Market, which takes place under the backdrop of Edinburgh Castle, on Castle Terrace. Produce on offer includes speciality meats such as venison and water buffalo,

fish (lobster in season), free-range eggs (including duck eggs), cheese, seasonal fruit and vegetables, honey, pâtés and chillies. The Farmers’ Market also features homemade baked goods and guest producers selling organic beer, liqueurs, breads, chocolates, chutneys and more. Plans have also been lodged for a Victorian-style market in the historic Tron Kirk on the Royal Mile. > Find out more: www.localmotivemarkets.co.uk www.edinburghfarmersmarket.co.uk www.edinburghmarkets.co.uk

MADE in EDINBURGH

DUKOSI CHARGING AHEAD Earlier this year, battery technology specialist Dukosi raised £320,000 to launch a new product that could provide a big boost to the efficiency of electric vehicles. Venture capital firm Par Equity and the Scottish Investment Bank provided the funding to support the launch of a smart microchip – the Electric Vehicle Optimisation Integrated Circuit (EVoIC). The chip significantly extends the range of an electric vehicle from a single charge, tackling one the biggest drawbacks cited around the adoption of electric vehicles. “EVoIC manages how the batteries are charged and discharged in such a way that their useful lifetime is lengthened,” said Gordon Povey, who joined Edinburghbased Dukosi in January as chief executive. “The technology also greatly enhances the reuse and recyclability of used vehicle

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batteries. It addresses the key concerns of component and vehicle manufacturers and their customers.” Incorporating the EVoIC chip could extend vehicle range from a single battery charge by up to 15%; improve reliability by 25% by detecting early signs of degradation; and boost battery resale value by 50%. Existing battery management systems (BMS) use a single, large integrated circuit to monitor the whole battery. This architecture has not scaled well for applications requiring many, possibly hundreds, of cells, such as those in electric vehicles. By contrast, the new EVoIC features a battery optimisation and management unit on each battery cell. “This makes changes in battery size or configuration simple to achieve without having to redesign or customise a BMS. It’s

simply a better solution,” says Gordon. The EVoIC is open platform, meaning it has many other potential applications. It can support and enhance a raft of third party applications that could benefit from the performance or status information, such as locating a charging point, calculating how long charging will take and optimising journey routes. With several electric vehicle manufacturers interested in trialling the EVoIC system, Dukosi is now hiring technical and commercial staff and plans to have the EVoIC ready for customer trials in the second half of 2014, with the chip ready for mass production in 2015. > Find out more: www.dukosi.com

TESLA MOTORS HAS ANNOUNCED PLANS FOR A NEW DEALERSHIP IN EDINBURGH SELLING ITS MODEL S LINE OF ELECTRIC CARS.

<SNAPSHOTS

NEWARRIVALS WHO CAME TO EDINBURGH, WHEN AND WHY? WHO IS MOVING TO EDINBURGH? The parcel courier DPD – a subsidiary of La Poste, the national postal service of France – has begun construction on a new 5,600m2 ‘super-depot’ in Newbridge, West Edinburgh. The first of its kind in the UK, the new facility is scheduled to open later this year. WHAT DOES DPD DO? Part of the express delivery arm of La Poste, DPD is the UK’s fastest-growing parcel delivery company, with annual growth averaging 20% in recent years. To increase capacity and improve efficiency, DPD is investing in new depots across the UK. The Edinburgh super-depot will be able to process as many as 7,000 parcels every hour and the super-depot is expected to be up to four times more efficient than DPD’s existing depots.

“As well as helping to future-proof our network in terms of being able to handle the anticipated increase in ecommerce parcel volumes, this investment in new depots will also create hundreds of new jobs,” said Dwain McDonald, chief executive of DPD. WHY HAS DPD CHOSEN EDINBURGH? West Edinburgh is a well-established location for distribution activities, with couriers including DHL, Parcelforce,

TNT, UPS and TransGlobal operating depots in the area. A key advantage is the area’s proximity to Edinburgh Airport, which possesses 12 cargo stands and a 7,000m2 cargo village. Edinburgh Airport carried over 19,000 tonnes of mail in 2013, making it the UK’s busiest airmail hub outside of London. >F ind out more: www. dpd.co.uk

Developments such as Quartermile have seen rising demand.

PROPERTY BUOYANT IN EDINBURGH Buoyant demand for residential property in Edinburgh is driving growth in development land values as developers look to the city for strong returns. “The recovery in values for residential land and development sites in Edinburgh has been rapid over the last 12 months,” confirmed Will Scarlett of property agency Rettie & Co. “A number of private housebuilders are now also re-financed and very much back in the market, while in recent months we are now also witnessing

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new entrants into the Scottish market from England. The result is strong demand for well-located sites.” The Stewart Milne Group, one of the UK’s largest independent housebuilders, recently announced plans for major investment in land acquisitions and site developments in the Edinburgh city region. The company currently has more than 30 sites under development in Scotland and northwest England and plans to begin work on another 20 in the next 18 months. It

launched a new regional office in Edinburgh to support its growing activity in Scotland. The news comes just months after Edinburgh appeared for the first time on the IP Global Property Barometer, an independent ranking of the world’s leading hotspots for property investment. “Our experience is that Edinburgh is one of the few locations in the UK outside London where certain investors are looking to allocate their assets,” added Matthew Benson of Rettie & Co.

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Edinburgh-based Trig are specialists in low power, high tech solutions to existing and emerging requirements in general aviation avionics.

Andy Davis Chief executive, Trig Avionics

IE> What does Trig Avionics do? AD> Our products are avionics – aviation electronics. That includes radio-type products used to communicate with the ground and transponders, which are part of the radar surveillance system used to monitor air traffic. Our primary target market is light aircraft and general aviation. Our business strategy is centred on the transfer of higher end avionics used in commercial aircraft into more mainstream aviation, to make it accessible. IE> What led you to found Trig Avionics? AD> The avionics industry is highly regulated. Avionics products and the companies that make them have to be certified, which has led to a static industry dominated by a small number of familiar names. New regulations were beginning to require light aircraft to carry increasingly expensive, power hungry avionics, in particular a Mode-S transponder, in order to maintain access to airspace. In 2004, we set out to make smaller, more affordable, more power efficient systems to meet this increasing demand. Our first product hit the market

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in 2007 and we’ve been going strong ever since. IE> What are your main markets and how do you see these evolving? AD> We’re an export driven business. We now export our products to more than 40 countries with over 85% of our sales outside of the UK. Europe remains our largest market, while Australia and New Zealand are also important. We are also growing our market share in the US, which is by far the largest general aviation market in the world. Changing regulations across Europe, the US and the rest of the world, mean that light aircraft will be increasingly required to carry ever more capable avionics suites. As the manufacturer of the world’s smallest and lightest Mode-S transponder, the TT22, and with our growing product range, we feel we’re ideally positioned to meet this evolution. IE> What are the benefits of being based in Edinburgh? AD> Edinburgh has always been our home and having been involved

in previous start-ups, I was aware of the support services available here – everything from lawyers to investment support. We were plugged into an effective network of business support from the outset. Scotland continues to provide good access to sub-contract manufacturers. The central belt of Scotland has excellent electronics manufacturing capability and all our products are made here in Scotland. IE> You’re based in Heriot-Watt University’s Research Park. What are the benefits of being located on campus? AD> The Research Park provides scalability and flexible space. As our business has grown, the research park has been able to accommodate that growth with a range of building sizes. It’s very convenient for transport links too – we’re close to the airport. We also have a partnership with the Electrical Engineering department which sees us take a couple of postgraduate students as interns for six months as part of their studies. We get access to young talent and they gain industry experience.

UPMARKET RETAILER WAITROSE HAS ANNOUNCED PLANS FOR A NEW STORE IN THE CORSTORPHINE NEIGHBOURHOOD OF EDINBURGH.

<10QUESTIONS IE> Trig Avionics has only been in business for ten years, yet you have already established a global footprint. What has been the secret of your success? AD> 2007 was a uniquely challenging time in which to try to launch a new high growth start up aimed at the general aviation market. The industry as a whole contracted by 35% in 2008, and again in 2009. Today, there are approximately 400,000 aircraft in the world, so it’s a small market when compared to consumer electronics. Most aircraft are long-lived assets, so the majority of our products are retro-fitted but increasingly manufacturers such as Waco and Cubcrafters are factory fitting Trig equipment.

IE> Trig Avionics sponsors its own aerobatic team. What are the benefits of this? AD> It’s our third year of sponsorship of the team, which flies two agile Pitts S-1D aerobatic biplanes. They’re incredible brand ambassadors for Trig and the aircraft themselves are firmly within our target market. More than a million air show spectators witnessed the team’s close formation flying in 2013. We’re also sponsoring Flying for Freedom, a UK charity helping to teach injured armed forces personnel to fly. In December, eight servicemen are setting off across Antarctica in an attempt to fly microlights to the South Pole.

IE> What do you see as Trig Avionics’ USP? AD> Put simply, cost effective, lightweight reliable avionics. While we were making steady inroads into the industry, the contraction of the aviation sector resulted in some well-established avionics names disappearing. The recovery has allowed Trig to gain momentum, emerging as a trusted brand in what remains a conservative, risk averse sector. We’ve started to gain inroads with aircraft manufacturers and are now being sub-contracted by other avionics companies, which further boosts our profile.

IE> Where do you see Trig Avionics in five years time? AD> Trig has developed a fairly aggressive programme of new product development to keep up with changes in aviation. The industry is moving towards the point where aircraft will not only talk to the ground, but also to each other. This type of technology has been a big push for us. By implementing it in our transponders, we have future proofed our equipment against planned regulatory changes taking place across the world. The intention is to offer our customers a full suite of avionics, including GPS capability and traffic receivers, which could form part of a traffic collision avoidance system.

“THE CENTRAL BELT OF SCOTLAND HAS EXCELLENT ELECTRONICS MANUFACTURING CAPABILITY AND ALL OUR PRODUCTS ARE MADE HERE IN SCOTLAND.” IE> Trig supports the Edinburgh Guarantee initiative by offering Modern Apprenticeships. What benefits does this bring? AD> We’ve currently got two modern apprentices going through the programme and we’ll be taking on more. These are young people who are motivated, aspirational but for whatever reason the traditional approach of university wasn’t a preferred option. We can give them a paid job with funding through college, up to HND level. The focus is on manufacturing and production engineering allowing us to mould them into the type of skilled worker we need. Our own manufacturing manager began his career as an apprentice, so has been a keen supporter of the programme.

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Andy Davis, chief executive With a background in software development, design and engineering Andy has extensive experience of setting up and running technology and data communication businesses. He is an experienced fixed wing pilot with more than 4,000 hours flying time including single-engine and multi-engine piston aircraft, multi-engine turboprop, and jet type ratings. Andy now oversees Trig’s product development, frequently testing the new products on his own, locally-based aircraft.

www.trig-avionics.com

“WE ARE AN EXPORT DRIVEN BUSINESS. WE NOW EXPORT OUR PRODUCTS TO MORE THAN 40 COUNTRIES.”

Trig have sponsored two agile Pitts S-1D aerobatic biplanes for three years.

FOLLOWING A £4.2 MILLION REFURBISHMENT, THE FORMER POINT HOTEL ON BREAD STREET HAS REOPENED AS A 138-BEDROOM DOUBLETREE BY HILTON HOTEL.

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<FEATURE

INNOVATION CAPITAL: INSPIRING EXPLORATION AND DISCOVERY In the same way that they say lightning never strikes twice, it would seem improbable that, century after century, a single city could be internationally recognised as a world-leading centre for innovation. Yet Edinburgh continues to act as a conduit for inspiration and innovation, two centuries after the Enlightenment.

n the 18th century, English chemist John Amyatt famously told William Smellie, editor of the first Encyclopaedia Britannica, “Here I stand, at what is called the Cross of Edinburgh, and can, in a few minutes, take 50 men of genius and learning by the hand.” Past luminaries of Edinburgh have included figures such as economist Adam Smith, physician Sophia Jex-Blake, historian David Hume and chemist Joseph Black; thinkers whose ideas continue to inspire and influence long after their deaths. Today, you can choose from a score of street corners within the city boundary and make a similar claim. Among modern day Edinburgh’s greatest assets are the men and women at the forefront of innovation and scientific discovery who have made the city their home.

pin-out companies from Scotland’s universities now generate more than £300 million a year for the economy, according to a study by commercialisation network Praxis Unico. Many are breaking new ground in disciplines as diverse as biotechnology, software, electronics, renewable energy, food manufacturing and healthcare. Derek Waddell is the chief executive of Scotland’s most prolific university technology transfer office, Edinburgh Research and Innovation (ERI), based at the University of Edinburgh. “In the past five years, ERI alone has helped staff and

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students set up 171 new spin-out and start-up businesses,” says Derek. “Many have won awards, thereby strengthening the university’s position as one of the top-performing enterprise universities in the UK. We are most proud, however, of the fact that, of the more than 300 start-ups we have helped to create over the past 45 years, 81% are still trading.”

“IN THE PAST FIVE YEARS, ERI ALONE HAS HELPED STAFF AND STUDENTS SET UP 171 NEW SPIN-OUT AND START-UP BUSINESSES.” In May, the board of one early spinout from the University of Edinburgh, Wolfson Microelectronics, voted to accept a takeover deal by a Texas-based rival audio microchip firm that valued the firm at £291 million. Other successful city spin-outs have included MTEM Ltd, which was founded in 2004 and acquired less than four years later by Norwegian oil services company Petroleum Geo-Services ASA for $275 million. Its multi transient electromagnetic (MTEM) survey technology provides a novel means of determining the resistivity of subsurface rocks and hence the nature of the fluids in them. In healthcare, in 1995, graduates of the University of Edinburgh founded Voxar,

EDINBURGH CONTEMPORARY CRAFTS HAS OPENED A MULTI-DISCIPLINARY WORKSHOP ON BLAIR STREET THAT WILL PROVIDE FACILITIES FOR CRAFTS INCLUDING SCREEN PRINTING, DRESSMAKING AND POTTERY.

which quickly established a leading 3D tool for surgeons. It is now part of the Toshiba Medical Systems Corporation, which has grown a key global R&D centre around the team in the city. They continue to develop some of the most advanced clinical imaging software in the world, displaying results in five dimensions. Jamie Coleman, founder and inspirational advocate of CodeBase, the largest technology incubator in the UK and the fastest growing in Europe, believes it won’t be too long before we see “the first Scottish start-up to achieve $1billion in revenue, with a customer base exceeding one million users and probably employing fewer than 10 people.” CodeBase opened in April 2014, with 23,000m2 of flexible space and 20 companies. By June, another 20 companies had arrived. “We are home to some of the best companies in the country,” says Jamie. “Based entirely on private equity, our goals are to drive investment into tech start-ups and to improve digital skills for business.” The track-record of CodeBase-based companies such as PlanforCloud, Scotland’s fastest tech acquiral when it was bought by Rightscale within months of launch, and Cogbooks, which promises real scalability with its adaptive learning technology, help attract worldwide attention and support. During the 2014 Edinburgh International Festival and Fringe, CodeBase played host to a joint event, on 6-7 August. “We included a competition, open to start-ups from across Europe, to be shortcut into Seedcamp Week in September,” explains Jamie.

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“I WANT EDINBURGH TO VACUUM UP TALENT AND FOR PEOPLE TO ASPIRE TO COME AND WORK IN THE CITY BECAUSE OF THE EXCITING THINGS HAPPENING HERE.” “The selected start ups will receive funding, residence at Seedcamp Campus, which is hosted in the Google building in London, and enrolment in the Seedcamp Academy. This is a dedicated year-long programme designed to help founders develop their MVP (minimum viable product) and join a bi-annual trip to the US. There, they’ll access more than 70 meetings, on the east and west coast, with key investors, angels and corporates.” To date Seedcamp has invested in more than 120 start-ups from across 35 countries that have collectedly gone on to raise $130 million in follow on funding. “I want Edinburgh to vacuum up talent and for people to aspire to come and work in the city because of the exciting things happening here.” Jamie’s vision is shared and supported by a number of high-profile annual events. One of these events is the ‘by invitation only’, Engage, Invest, Exploit forum. It is run in conjunction with Edinburgh BioQuarter, the Edinburgh Centre for Carbon Innovation and the Scottish Investment Bank. Held in May, it has acquired a ‘must attend’ reputation, giving investors and serial technology entrepreneurs the opportunity to listen to and meet with a large number of Scotland’s high-potential, high-quality companies. Peter Ferry, who is responsible for Microsoft’s business partner channel in Scotland, said the 2014 event was an ideal opportunity to discover new talent, “and over the past three years or so the level of creativity in the technology sector has rocketed.” 27 year-old Maria Silies, who is on the MA Fashion and Textiles Design course at HeriotWatt University’s School of Textiles and Design, won this year’s Young Innovator’s Challenge. Run by the Scottish Institute for Enterprise, it encourages students to submit creative, innovative ideas for solving problems. Maria works with surplus Scottish heritage textile, discarded during the manufacturing process, transforming them into desirable and unique fabrics suitable for accessories and fashion. Converge Challenge is another avenue open to both innovative students and

12 INVEST EDINBURGH | JULY TO SEPTEMBER 2014 |

CONVERGE CHALLENGE 2013 WINNERS

Second place: Kanika Bansal, MediCen Devise.

Third place: Helen Fisher and Liita Naukushu, Beckdales.

“THE ROYAL SOCIETY OF EDINBURGH CURRENTLY HAS MORE THAN 1,500 FELLOWS... THIS BREADTH OF EXPERTISE MAKES US UNIQUE IN THE UK.” their teachers. It brings together the most ambitious and creative thinkers from academia, research and business to work with product or service-based ideas at any stage of development. Funded by eight Scottish universities and the Scottish Funding Council, it gives students and academics the chance to exploit the commercial potential of their inventions. In second place this year was Kanika Bansal and her medical innovations company, MediCen Devise, which creates a range of devices to reduce the burden on healthcare staff and ease patient pain. In third place, and also from the University of Edinburgh, were Liita Naukushu and Helen Fisher. Their company, Beckdales, has devised a range of home and industrial cleaning products designed to reduce the spread of infections.

n the eighteenth century, it would not have been unusual to find Adam Smith, James Hutton and Joseph Black gathered together critiquing each other’s work in ‘dining clubs’ such as the Select Society, the Oyster Club and the Poker Club. Today, networking continues to be another key strength of Edinburgh’s innovators. Probably the most influential ‘network’, and certainly the longest established in the city, is the Royal Society of Edinburgh (RSE). “We were established in 1783 and since then have drawn upon the considerable strengths and varied expertise of our Fellows, of which there are currently more than 1,500, to build a dynamic and relevant

national academy for Scotland,” explains the outgoing president, Sir John Arbuthnott. Fellows span a wide range of disciplines: science and technology, arts, humanities, social science, business and public service. “This breadth of expertise makes us unique in the UK.” RSE manage the Enterprise Fellowship programme, which has been running since 1997 with funding coming from Scottish Enterprise, the Science and Technology Funding Council and the British Biological Science Research Council. Awardees receive funding for one year to work on developing their idea, as well as focused entrepreneurial training and rare access to mentorship from Fellows of the RSE in the business community. The scheme has helped create more than 60 companies, involved in everything from tidal energy generation and safety systems for the oil and gas industry, to communication systems for sufferers of Alzheimer’s and, collectively, these have raised more than £51 million in follow on funding. Were he able to stand at the Cross of Edinburgh today, the real difference that John Amyatt might notice is that Edinburgh is no longer just a city of great thinkers; in the 21st century it has become a city where its great thinkers turn their ideas into reality.

investinedinburgh.com t:+44(0)131 529 6600 e: invest@edinburgh.gov.uk

CHARDON TRADING HAS OPENED A 100-BEDROOM HOLIDAY INN EXPRESS AT EDINBURGH AIRPORT.

<FEATURE <FEATURE

MOMENTUM CONTINUES TO GROW

The Royal Observatory Edinburgh.

Building on the legacy of invention forged by past residents – from the telephone to penicillin, animal cloning to anaesthetic – the city remains a hotbed of innovation, exploration and discovery. The Centre for Innovation in Carbon Capture and Storage, at Heriot-Watt University, is an interdisciplinary, innovative, and international leading centre for research at the interface between science and engineering. Research is crossdisciplinary bringing together engineers, mathematicians, biologists, geographers and geologists. The Centre collaborates with industry, international energy policy advisors, government organisations, national and international universities and research centres. Following trials at Queen Margaret University, a pioneering microwave technology firm – Advanced Microwave Technologies – is emerging as one of the world’s most innovative users of microwave expertise in its application to the food and drink sector. The cuttingedge technology has led to a revolutionary new food processing method called microwave volumetric heating (MVH). This very gentle process of pasteurisation

can extend the shelf life of food and drink without destroying nutrients and antioxidants or altering taste. Data security specialist firm ZoneFox – now based at CodeBase – grew out of Jamie Graves’ PhD, which he started in 2005. Graves and his PhD supervisor, Professor William Buchanan, who is director of the Centre for Distributed Computing, Networks, and Security at Edinburgh Napier University, developed a tool to monitor all user activities on a network and alert data owners in real time of any unauthorised data access. Funding of £10 million over five years will support the development of a Digital Health Institute at the Stratified Medicine Innovation Centre. This collaboration between the University of Edinburgh, Glasgow School of Art, NHS24 and a consortium of other universities will look at ways of addressing growing demands for

A ground-breaking technology may be about to make its city inventor – Harald Haas, Professor of Mobile Communications in the University of Edinburgh’s Institute of Digital Communications – as famous as Sir Tim Berners Lee, inventor of the web. Using off-the-shelf LED light bulbs, Professor Haas has developed a technology that uses light for super-fast data transmission. Forget Wi-Fi; think Li-Fi. With funding support from the Scottish Enterprise proof of concept programme, a prototype for commercialisation has already been developed through a spin-out company, pureVLC. Its technology allows LED

light to modulate at a rate so fast as to be imperceptible to the human eye, but which can be picked up by receivers at speeds of hundreds of megabits per second, thereby enabling the light source to transmit data. Once configured with pureVLC’s ‘Li-Fi’ technology, any light source – even a simple household LED bulb – can become a localised data communications centre capable of carrying thousands of data streams in parallel at high speed. Moreover, it can be used in environments such as petrochemical plants, hospitals or aircraft where the use of radio frequency Wi-Fi must be restricted for safety reasons.

www.investedinburgh.com

health and social care services in Scotland using new technology. It aims to help companies develop and market new and innovative products capable of driving down healthcare costs. A new £11 million space technology centre named after particle scientist Peter Higgs is due to open in Edinburgh in 2016. Sited on the site of the UK Astronomy Technology Centre at the Royal Observatory it will focus on ‘Big Data’, large-scale computer processing, and outer space. As well as a team of scientists and students, the centre will house up to 12 small businesses. Professor Sir Timothy O’Shea, principal and vice-chancellor of the University of Edinburgh, said: “It provides an excellent opportunity to integrate technological developments, championed by world class researchers, with business incubation and positive economic impact.”

> See more at: www.see.ed.ac.uk/drupal/hxh/ www.purelifi.com

| JULY TO SEPTEMBER 2014 | INVEST EDINBURGH 13

ROUND TABLE: Whatever its successes in the past, we ask our panel what is behind Edinburgh’s reputation for innovation?

Derek Waddell, chief executive at ERI Edinburgh as a city benefits from excellent research centres, excellent educational bodies and excellent people; so innovation is inevitable. The city’s size and quality of life help make connections easier and makes it easier to retain top talent. ERI and its predecessors have been involved in some of the University’s most significant achievements in invention and innovation, including the first genetically engineered vaccine against hepatitis B, first miniature digital camera and first Scottish university spin-out to list on the London Stock Exchange. In fact, an economic impact report by BiGGAR Economics shows that the University of Edinburgh’s commercialisation activities alone contribute more than £140 million to the Scottish economy each year. I’m delighted that this success has been recognised with funding from the Scottish Funding Council, to establish the Enterprise Campus. Now any postgraduate student across Scotland can access our programme of support from Edinburgh or our partners at Aberdeen and Strathclyde Universities. Enterprise Campus is a natural extension of collaborative work that has long been a feature of Scottish universities. Perhaps it’s a legacy of the Enlightenment? I know some of our peers in other UK universities

certainly find it hard to believe how much we share. But the more ideas are spread, the more people can recognise and develop opportunities. A key strength we have at ERI, through offering everything from early technology evaluation and licensing technologies to supporting start-ups, is that we get involved early. You can have great projects and great managers but still find success eludes you: we look for commitment and then meet ambition with experience. That helps improve the odds of success. Jamie Colman, chief executive at CodeBase We have the chance to do exciting things here. CodeBase, like Edinburgh, is a community, not a campus. Edinburgh has developed organically and that links to the city’s history and strengths in specific fields, such as medicine and finance. We have to build on what we are already good at, including software, which is the digital core at the heart of everything. The city now has a gravitational pull that is strengthening all the time. There are global quality people here doing groundbreaking work in everything from life sciences to The Blockchain, the technology that underpins Bitcoin. Edinburgh is a ‘goldilocks city’: big enough to attract talent and diverse enough to provide the quality of life they demand, yet small enough for the talent to

“EDINBURGH IS A ‘GOLDILOCKS CITY’: BIG ENOUGH TO ATTRACT TALENT AND DIVERSE ENOUGH TO PROVIDE THE QUALITY OF LIFE THEY DEMAND, YET SMALL ENOUGH FOR THE TALENT TO KNOW EACH OTHER ON A PERSONAL LEVEL.”

14 INVEST EDINBURGH | JULY TO SEPTEMBER 2014 |

know each other on a personal level. We need to constantly create more links, to build genuine business advantage – at CodeBase we’re keen to introduce graduates from the Edinburgh School of Art to developers, to create new user interfaces for the next generation of software, and then we’ll leverage that friction. I believe Edinburgh is the perfect place to innovate. Malcolm Bateman, chief executive at Edinburgh Science Triangle It’s a combination of factors, starting with a first class academic base with the city’s universities securing a disproportionate level of research funding and producing world-class science. They are also delivering well-qualified graduates into the local workplace. As regards infrastructure, there are excellent science parks and innovation centres that have a track record of providing, through their different offerings, the facilities and support infrastructures that can help nurture and grow fledging businesses. These science parks are home to a myriad of innovative companies and, by encouraging companies to integrate with the local vibrant scientific community, facilitate a vital link between the commercial world and academic research. As in other walks of life success breeds success and this is true here in the Edinburgh city region with several great success stories from life sciences to informatics, from clean energy to mobile technology. In summary, the key to success is a critical mass of world-leading scientists, the research power of our academic institutions, a positive culture of multidisciplinary working, appropriate physical infrastructure and embedded commercialisation.

VINTAGE RETAILERS SCARAMANGA AND VERY VINTAGE HAVE OPENED A VINTAGE SHOP IN EDINBURGH’S BRUNTSFIELD NEIGHBOURHOOD.

<INSIGHTS Sir John Arbuthnott, President of RSE Our story began in Edinburgh during the intellectual fervour of the Scottish Enlightenment. Leading proponents of the movement, including Adam Smith, Joseph Black and James Hutton, came together in 1783 to establish the RSE with a mission to promote, ‘the advancement of learning and useful knowledge’. That same enquiring spirit is at the very heart of our work today. Over the past three years, we have worked to champion a ‘New Enlightenment’ by continuing to build a dynamic and relevant national academy for Scotland. Supporting research and innovation is central to what we do. Based in the historic heart of Edinburgh, we bring together, through a wide range of activities, some of the most exciting and innovative organisations, projects and individuals. We connect top academics working in our local universities to leading business people, who are in pursuit of furthering and strengthening Scotland’s world-renowned enquiring tradition. The RSE is proud of both its Edinburgh roots and its unique positioning in the physical and imaginative life of the city today. From this vantage point, we can serve as an independent source of inspiration, engagement and expertise across all areas of entrepreneurial and public life in Scotland for many years to come. Professor Steve Chapman, principal of Heriot-Watt University Invention, vision and a strong ‘can-do’ attitude have prevailed across our universities down the years, and the city of Edinburgh rejoices in a particularly strong university sector.

www.investedinburgh.com

“WE HAVE WORKED TO CHAMPION A ‘NEW ENLIGHTENMENT’ BY CONTINUING TO BUILD A DYNAMIC AND RELEVANT NATIONAL ACADEMY FOR SCOTLAND. SUPPORTING RESEARCH AND INNOVATION IS CENTRAL TO WHAT WE DO.”

In Scotland, academic competition is very much alive in our universities, but when you look around the world and see what other universities are doing to encourage a consistent flow of academic entrepreneurs you realise Scottish and Edinburgh universities punch well above their weight and can be proud of their achievements. At Heriot-Watt we specialise in science, technology, engineering, business, design and languages. We are also Scotland’s most international university with growing campuses in Dubai and Malaysia. This global perspective is important because in our universities we see companies being started by students and staff who have come from around the world to study and work and who are seizing the opportunity offered for business creation. It is important that we attract the best and the brightest by creating the right opportunities. Our universities not only provide terrific education and research but also offer the help and support to encourage students and academics to apply their ideas to innovation and business start-ups, as well as working with existing business and industry, and the city of Edinburgh as is particularly well placed in this respect. Janine Matheson, director of Creative Edinburgh When people come together, new ideas and collaborations spark. In a knowledge economy like Edinburgh, creating the right settings to mix expertise means that we can encourage and nurture innovation across industries. What makes Edinburgh such an innovative city is it’s a diverse hotbed of talent. As one of the largest creative networks in Scotland, Creative Edinburgh provides the platform for opportunity and connectivity. Our vision is clear, to unite,

inspire and promote the creative, cultural and tech talent in Edinburgh so that it is recognised as one of the world’s best places in which to do business. Innovation and creativity are not mutually exclusive; they coexist, working best when supported to thrive. That is why our community, now over 1,200 strong, are the curators of everything we do. We provide an annual programme of events and ‘random collisions’ designed to bring people together to share advice, network and trigger a variety of new working partnerships and collaborations. Jamie Graves, chief executive of ZoneFox ZoneFox has a proven track record protecting reputation, sales revenue, and competitive advantage by providing the next generation of data layer monitoring and analytics. We need access to talent and to markets and we can get both here in Edinburgh, with great national and international travel links. The business was spun out from my PhD research at Edinburgh Napier University and we stayed here deliberately. The main reason is the same reason that Edinburgh is a great city for innovation and innovators: it is the market capability that’s here. We’re based in CodeBase, where we can network with lots of like-minded businesses and that sparks new ideas. We’ll be expanding in numbers later this year, but as we grow I don’t see any reason for us to need to move our base. The quality of life is so good here, and it’s an attractive city to bring clients and investors to visit. We are hosting a Big Data event in the summer and the interest is huge. It’s just a hard city to leave.

| JULY TO SEPTEMBER 2014 | INVEST EDINBURGH 15

<MAKINGITHAPPEN

Skyscanner’s Edinburgh HQ.

TIP-TOP TECH-TASTIC Edinburgh’s tech start-up scene is booming. With the new CodeBase tech incubator and local companies like Skyscanner (pictured) growing rapidly, the city offers great opportunities to tech professionals. International Business of the Year at this year’s Scottish Business Awards is Edinburgh-based tech company HotDocs. The award not only reflects its strength in the US marketplace, where HotDocs is used by 80% of America’s leading law firms and one-fifth of Fortune 500 companies; but it also highlights the strength of Edinburgh’s burgeoning technology cluster. With some of the world’s leading tech companies now having a presence here, including Microsoft and Amazon – whose development centre is responsible for devising, creating and growing innovative technologies for Amazon websites worldwide – Edinburgh is well established as a prime location for tech professionals. Homegrown success stories include Skyscanner, a leading travel price comparison website now employing more than 150 staff in the city. It has grown from a local start-up to a global company with six offices worldwide in just 10 years. “There’s really a great community and knowledge sharing network here,” says a

16 INVEST EDINBURGH | JULY TO SEPTEMBER 2014 |

spokesperson for mobile app developer Kotikan, “and just a general huge enthusiasm for everyone to get involved in tech.” Stipso, which provides creative tools for visual content management, chose Edinburgh to set up over London and Dublin due to the city’s universities and the cosmopolitan and urban feel of a city that is just a few kilometres from the countryside. There’s widespread agreement that a key part of Edinburgh’s appeal is that it offers an unparalleled quality of life. Outdoor activities are easily accessed thanks to Edinburgh’s huge number of parks and close proximity to the Pentland Hills, a popular spot for hill walking, horse riding, and mountain biking. The Old and New Towns are UNESCO World Heritage sites and the city is the UK’s most popular tourist destination after London, winning a plethora of awards. Edinburgh has also been designated as UNESCO’s first ‘City of Literature’ and is internationally recognised as the world’s number one Festival City. The Turing Festival, a two day digital technology celebration with seminars from leading professionals such as Square founder Jim McElvey, is held annually and TEDGlobal also holds an annual conference in the city, to explore illuminating and innovative developments across a variety of sectors. (One example is Atlas, a giant humanoid robot that can navigate outdoor terrain. It is being developed by The University of Edinburgh and Heriot-Watt University, in partnership with Boston Dynamics.) This close knit community, with the universities at its nucleus, is a large draw for

both tech professionals and companies, but: “it’s not just the quality of business and research that I love,” says Keith Neilson, chief executive of hospital management software developer Craneware. “It’s the quality of life: for me it’s the cornerstone of business success. It allows me to enjoy improving my business.” The City of Edinburgh Council is playing a key role in helping engage with tech professionals to showcase the career opportunities on offer in the city. Its Investor Support team provides flexible touchdown space to companies coming into Edinburgh. FanDuel, an online fantasy sports company, acknowledge that the support and help offered to start-ups by the Council, and the entrepreneurial spirit this nurtures, were two key reasons why they chose to be based in Edinburgh. In conjunction with ScotlandIS and Talent Scotland, the Council hosted a Tech Jobs Scotland event in London’s Shoreditch neighbourhood earlier this year. Edinburgh’s leading tech companies talked about their latest developments and career opportunities, and Edinburgh’s high quality of life was showcased. Reflecting the excellent partnership between the Council and the city business community, the event was highly successful.

youtube.com/ watch?v=9hQAgBYzy5U This short film highlighs the diversity of opportunities in Edinburgh, featuring companies such as Skyscanner and Mallzee, developer of a personalised shopping app.

THE ENGINEERING AND CONSTRUCTION CONTRACTOR EMTEC HAS OPENED A NEW OFFICE IN NEWBRIDGE ON THE WESTERN EDGE OF EDINBURGH.

<ADDEDEXTRAS

A CITY AFLOAT WITH OPPORTUNITY 2014 promises great things for the Edinburgh Waterfront. The stage is set for the first Forth Bridges Festival in September, which will commemorate not just the 50th birthday of the Forth Road Bridge, but also three centuries of world-class civil engineering on the Forth. A key event in the Homecoming Scotland 2014 calendar, the 10-day festival runs from 4 to 13 September. The packed programme includes highlights such as a boat flotilla, a torchlight procession over the Bridge and ‘Scotland Welcomes the World to Lunch’, a bid to set the Guinness World Record for the largest outdoor lunch. Together, the Forth Road Bridge and the adjacent Forth Bridge – nominated for World Heritage Site status in January 2014 – are icons of Scotland and present a powerful visual image that is recognised the world over. The Festival is designed to appeal to residents and visitors alike, bringing a mix of Scottish pride and important economic benefits from tourism. Looking forward in time, and nestling under the southern support leg of the Forth Road Bridge, lies Port Edgar – the largest marina on the east coast of Scotland. Port Edgar has secured a revitalised future with the awarding of a 30-year operating lease to Port Edgar Holdings, which has committed to investing £1.2m in improvements to the facility over the next five years. This will include dredging work allowing the marina to accommodate larger vessels.

www.investedinburgh.com

Port Edgar offers serviced berths for 300 boats, supporting recreational activities such as powerboating, kayaking and canoeing. The sheltered South Queensferry Bay is an ideal location for dinghy sailing, while Port Edgar Yacht Club has one of the most active yacht racing programmes in Scotland, running from April to December.

BRITANNIA WAS NAMED ‘BEST ATTRACTION IN THE UK’ IN THE TRIPADVISOR’S TRAVELLERS’ CHOICE AWARD 2014. Complementing Port Edgar is Granton Harbour, a popular yachting venue where plans are underway for a new marina as part of a wider regeneration package. Situated on the Edinburgh Waterfront, the Royal Yacht Britannia has welcomed

more than four million visitors since taking up its berth at Leith in 1998. The former royal yacht of Queen Elizabeth II, Britannia was recently named Best Attraction in the UK in the TripAdvisor’s Travellers’ Choice Award 2014 and has been Scotland’s best visitor attraction for eight successive years. This unique attraction, which called at more than 600 ports in 135 countries during its 44 years on active service, was famously described by the Queen as “the one place where I can truly relax.” Visitors can enjoy stunning harbour views from the Royal Deck Tea Room and Britannia has become one of the most exclusive corporate entertainment venues in Scotland, hosting dinners for up to 196 people. When celebrating the launch of their new direct flight from Doha to Edinburgh, in 2013, Qatar Airways chose the Royal Yacht for a VIP dinner. “The ambience and grandeur of the setting, together with the warm welcome and support provided, ensured the dinner was a great success.” With all this, along with Michelin Star restaurants Martin Wishart and The Kitchin, Ocean Terminal shopping centre, Coburg House Art Studios and a range of other attractions, there’s something for everyone to enjoy at the Edinburgh Waterfront.

www.royalyachtbritannia.co.uk

| JULY TO SEPTEMBER 2014 | INVEST EDINBURGH 17

ANNUAL STATISTICAL OVERVIEW POPULATION OF EDINBURGH BY AGE BRACKET (2012) 100,000

86,642

80,000

70,447 60,000

67,072

63,688

50,482 46,364

40,000

36,069 20000

27,057

24,693

10,126 0

0-4 5-15 16-24 25-34 35-44 45-54 55-64 65-74 75-84 85+ Age (years)

JOBS IN EDINBURGH BY INDUSTRY (2013) Real estate (4,900)

Primary industries and utilities (3,300)

Other services (6,300) Manufacturing (7,200) Construction (9,800) Arts, entertainment and recreation (10,000)

Professional, scientific and technical services (46,600)

Transportation and storage (10,400) Information and communication (12,800)

Health and social work (45,100)

Public administration and defence (17,500)

Administrative and support services (21,300)

Accommodation and food services (25,400)

18 INVEST EDINBURGH | JULY TO SEPTEMBER 2014 |

Financial services (38,000)

Education (27,900)

Wholesale and retail (36,700)

THE MARKETING IMPLEMENTATION AGENCY HOGARTH WORLDWIDE HAS LEASED SPACE AT WAVERLEYGATE ON WATERLOO PLACE. THE NEW OFFICE WILL HOUSE PART OF THE AGENCYâ&#x20AC;&#x2122;S DIGITAL DEVELOPMENT TEAM.

<THESTATISTICS

KEY DATA

Indicator

JOHN MENZIES PLC

Number Date Source

Population

482,640

2012

General Register Office for Scotland

Households

224,322

2012

General Register Office for Scotland

Working age population

338,331

2012

General Register Office for Scotland

Average annual wage of workers

£24,700

2012

Office for National Statistics

Average annual disposable income

£24,600

2012

Office for National Statistics

Annual output per worker

£57,600

2011

Office for National Statistics

Average annual office rent

£290 per m

2012

Ryden

£217,000

2012

Registers of Scotland

9.2 million

2012

Civil Aviation Authority

Annual rail passengers

26.6 million

2012

Office of Rail Regulation

Annual tourist visits

3.73 million

2012

VisitScotland

Annual tourist expenditure

£1.27 billion

2012

VisitScotland

Average residential property selling price Annual airport passengers

EDINBURGH’S TOP COMPANIES BY PRE-TAX PROFITS (2012)*

Pre-tax profits (£million)

Company

Sector

Standard Life PLC

Insurance and pensions

£996.0

Scottish Widows Group Limited

Insurance and pensions

£441.0

HBOS PLC

Banking

£255.0

Diageo Scotland Limited

Distilling

£205.0

Tesco Personal Finance PLC

Banking

£124.6

TSB Bank PLC

Banking

£110.0

Walter Scott & Partners Limited

Fund management

£93.1

Wood Mackenzie Limited

Consultancy

£79.6

Sainsbury’s Bank PLC

Banking

£52.9

First State Investment Management (UK) Limited

Fund management

£51.0

BlackRock International Limited

Fund management

£32.8

Scottish Water Business Stream Limited

Water and sewage

£32.8

John Menzies PLC

Logistics

£32.0

Artemis Asset Management Limited

Fund management

£23.2

Edinburgh Partners Limited

Fund management

£22.9

Heineken UK Limited

Brewing

£20.2

Petroleum Experts Limited

Software development

£19.4

Marine Harvest (Scotland) Limited

Seafood

£17.5

Concept Systems Holdings Limited

Software development

£16.3

Forth Ports Limited

Port operation

£15.7

Hunter Boot Ltd

Footwear

£13.6

The Glenmorangie Company Limited

Distilling

£13.1

Adam & Company Group Public Limited Company Banking

£11.5

Cala Group Limited

Property development

£11.4

Skyscanner Limited

Software development

£11.0

* Excludes trusts

** Year ending March 2012

Logistics company John Menzies is considering a number of strategic acquisitions to expand the global footprint of its aviation division, with a focus on the Americas. John Menzies recently won a major cargo handling contract with Delta Air Lines at Detroit Metro Airport, while its Shongololo Lounge at South Africa’s OR Tambo International Airport has been voted Africa’s best airport lounge by Priority Pass. FIND OUT MORE: www.johnmenziesplc.com

MARINE HARVEST (SCOTLAND) LIMITED

The Scottish arm of Marine Harvest, the world’s largest salmon producer, has installed a ‘SQUID’ wave energy converter at its salmon farm at the island of Muck. The 45 kW device – developed by wave energy technology firm AlbaTERN at its offices on the outskirts of Edinburgh and tested at Kishorn Port in the Highlands – will supply green electricity to the salmon farm, replacing an existing diesel generator. The pilot could lead to other salmon farms in Scotland being powered by wave energy. FIND OUT MORE: www.marineharvest.com

SKYSCANNER LIMITED

Skyscanner has boosted its global presence with the launch of a bus ticket booking tool for the Indian market, enabling users to book tickets for over 35,000 bus routes throughout India. Europe’s leading travel search engine, Skyscanner’s website is used by 25 million people each month, with millions more downloading its mobile app. FIND OUT MORE: www.skyscanner.net

| JULY TO SEPTEMBER 2014 | INVEST EDINBURGH 19

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.