Investment firm aids innovation on campus
The University has signed a deal with a leading investment company to encourage funding of innovations at Edinburgh.
The partnership agreement with Mercia Technologies PLC will locate a team of up to four Mercia staff on campus.
Mercia staff will be co-located with Edinburgh Innovations, which manages technology transfer, consultancy, commercialisation, industrial engagement and enterprise development for the University.
The agreement was signed by the University’s Director of Corporate Services, Hugh Edmiston, and Chief Executive Officer of Mercia Technologies, Dr Mark Payton.
Mercia has earmarked significant funding that can be invested in technologies and business opportunities developed by the University.
The national investment group has funds of more than £335 million under management.
Mr Edmiston said the deal would offer mutual benefit to the University and Mercia Technologies through potential investments.
This typifies our successful work with commercial partners to bring funding opportunities into the University and ultimately to boost the impact of our work. It also helps us pursue our ambition to be a global leader in industry engagement.
Chief Executive Officer of Edinburgh Innovations, Dr George Baxter, welcomed the opportunity to work with a company that has a strong track record of supporting spinout activity.
We are pleased to be working with Mercia. We see this partnership as an important part in the University’s mission to increase its role in local, regional and national innovation such as the recently announced Edinburgh and South East Scotland City Region Deal.
Chief Executive Officer of Mercia Technologies, Dr Mark Payton said he was looking forward to Mercia enjoying a productive relationship with the University as the company builds its presence in Scotland.
This is a further milestone for Mercia as we continue to expand our model of patiently supporting globally relevant opportunities with our managed funds before swiftly scaling via our balance sheet capital.