AI and Entrepreneurship
In 1969, we created what is considered the first AI spin-out company in the world, and AIAI, our AI technology transfer unit was established in 1983.
This was followed by a long and sustained efforts to build a tech ecosystem in the Edinburgh region, which now looks back on a history of raising over £700 million for start-ups and many successful University spinoffs – with FanDuel as a particular highlight as one of only two Scottish unicorn companies that was founded by an Edinburgh AI graduate. Much of this activity was supported by Informatics Ventures, the entrepreneurship programme of the School of Informatics, and helped nurture Edinburgh’s flourishing tech ecosystem.
More recently, The Bayes Centre has amplified these activities substantially, running AI incubation and acceleration programmes, tech investment showcases, and supporting industry engagement and technology transfer in data science and AI across the University. Since 2018, it has brought 50 companies and £50 million of R&D investment into the University ecosystem, and helped tech ventures raise over £100 million of investment.
The University has made a long-term commitment to playing a leading role in the future of AI, not only through its excellence, but also by supporting the wider business ecosystem, both by creating and scaling new ventures, and by closely working with industry to support the diffusion and adoption of AI innovations in the economy.