The University of Edinburgh has signed a partnership agreement with investment company Mercia Technologies PLC to encourage the funding of innovations at Edinburgh. Mercia will locate a team of up to four staff on campus, and has earmarked funding that can be invested in business opportunities developed by the University.
The agreement was signed at an event on Tuesday 31 October 2017 by Hugh Edmiston, Director of Corporate Services, and Dr Mark Payton, Chief Executive Officer of Mercia Technologies.
“This agreement offers mutual benefit to the University and Mercia Technologies through potential investment in the University’s innovations,” said Mr Edmiston.
“It 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.”
Dr George Baxter, Chief Executive Officer of Edinburgh Innovations, said: “We are pleased to be working with Mercia which has a strong track record of supporting spinout activity and 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.”
Dr Payton said: “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.
“I would like to thank the teams at the University of Edinburgh for their positive support and engagement, and I look forward to what I know will be a productive relationship as we build out our presence in Scotland and, in parallel, continue to support our 18 other key university partnerships across the Midlands, the North of England and Scotland.”
Mercia Technologies PLC is a national investment group that focuses on funding innovative technology businesses with high growth potential from the UK regions. It has funds of more than £300 million under management.
Edinburgh Innovations Ltd manages technology transfer, consultancy, commercialisation, industrial engagement and enterprise development for the University, including supporting staff and student entrepreneurs.