Scholars toast spin-out success
An event has been held to mark the success of a £2.6million scholarship scheme.
The scholarships have been made possible by the sale of University spin-out company MTEM.
The three founders of energy technology pioneer MTEM - which has funded 164 PhD students at Edinburgh since 2007 - hosted a reception at Old College.
The event was attended by the University’s Principal Professor Sir Timothy O’Shea.
The company was set up by Professor Anton Ziolkowski, Professor Bruce Hobbs, and Dr David Wright in 2003.
It became the largest ever spinout from a Scottish university after raising £7.4million in a funding round the following year.
MTEM was bought in 2007 by Petroleum GeoServices for £137million in a deal which earned the University £8.6million.
Supporting commercialisation activity
Some of the money helped fund new laboratories and support commercialisation activity at Edinburgh.
The rest was set aside to fund the ‘Principal’s Studentships’ for PhD students studying in disciplines across all three of the University’s Colleges and represents a significant reinvestment in training scholars at the University.
Guests at the reception included representatives from Our Dynamic Earth, Heriot-Watt University, Petroleum GeoServices, Scottish Enterprise and Scottish Oil Club. Around half of the scholarship students were there too.
Many students may never have achieved their ambition to carry out further postgraduate research without the support of an award. We express our appreciation to Anton, Bruce and David for all that they did to make MTEM such a success and for making it possible for our scholars to complete their studies.