Edinburgh Uni forms 35 firms despite economic downturn

Edinburgh University has formed 35 companies in the 2010-2011 academic year – down five from the previous year. Companies created include Speech Graphics, which develops software that realistically creates speech-synchronisation for video games. This recently won a John Logie Baird award for innovation. Another new firm – DestiNA Genomics – has developed a chemical test that detects genetic mutations.

Derek Waddell, chief executive of the university’s commercialisation arm ERI, said: “The strong number of companies formed in 2010/11 is further testament to the university’s expertise in creating businesses, even in difficult economic times.” He added: “These firms have real potential to contribute to the economy of Scotland and the UK, creating growth as well as new jobs.”

In the past five years the university has formed 143 companies. Around 75% of the companies are still in operation and employ more than 300 staff.