January to March 2013

FroM bench to bedside: World-leading Medical research in edinburgh

iSSUE 43 » charlotte square revitalised » li-Fi – the light Fantastic » 10 questions For ceo oF edinburgh airport » statistics

in this issue

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2 iNVEST EDiNBURGH | January to March 2013 |

the First Word

hello and welcome to the latest issue of Invest Edinburgh. i’d like to begin by acknowledging the contributions of

my predecessor, tom buchanan, who stood down at the end of last year after five-and-a-half years of championing edinburgh’s economy. his significant efforts have helped ensure that edinburgh’s economy remains buoyant despite an exceptionally challenging global economic climate.

this issue of Invest Edinburgh looks at how the city’s concentration of world-leading medical research is being translated into new treatments for patients. nowhere is this ‘bench to bedside’ approach epitomised more than at the edinburgh bioquarter, a unique clustering of researchers from academia, the health service and the private sector. the benefits of the collaboration the bioquarter encourages are the topic of our Round Table discussion.

With rising passenger volumes and a new owner, what does the future hold for edinburgh airport? We ask gordon dewar, its new chief executive, in 10 Questions.

We welcome the centre for engineering education and development to edinburgh in New Arrivals, while the biofuel company celtic renewables is tipped as One to Watch. the performance of the city’s office market is scrutinised in this issue’s Making it Happen. Finally, edinburgh culinary exports are the subject of Added Extras.

Thank you for reading,

councillor Frank ross,convenor of the economy committeeeditor@investedinburgh.com

04 snapshots investment, innovation and inspiration across the city

07 neW arrivals the centre for engineering education and development

08 10 questions For… gordon dewar, ceo of edinburgh airport

10 (cover story) FroM bench to bedside World-leading medical research in edinburgh

14 round table the benefits of research collaboration

16 Making it happen property turns a corner

17 added extras a taste for food exports

18 the statistics the latest key indicators for edinburgh’s economy

i nvest in edinburghare you:• a retailer looking to expand into a dynamic new market?• a hotel developer or operator interested in opening a hotel

in a global tourism hotspot?• a business looking to establish an office or contact centre

in scotland?• a property developer interested in development opportunities?

iF so, the city oF edinburgh council and its partners can provide you With:• Free, confidential, impartial advice on your commercial

property and land requirements;• introductions to key business and civic leaders;• assistance with recruiting and training staff with

the skills you need;• advice on accessing grants and other funding;• guidance on doing business in scotland;• high-quality market intelligence.

to find out more about how we can help you, please contact the investor support team at invest@edinburgh-inspiringcapital.com or on +44 (0)131 529 6600.

For a free quarterly subscription to Invest Edinburgh, or to obtain additional copies, please contact editor@investedinburgh.com

Invest Edinburgh is created in a partnership between Marketing edinburgh ltd and the city of edinburgh council. it is published by resolve creative, suite 104, 47 timber bush, edinburgh eh6 6qht. +44(0)131 555 7585 w. resolve-creative.co.uk

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For the second half of the last century, Charlotte Square formed one end of the ‘Golden Rectangle’ which extended along George Street to St Andrew’s Square and housed many leading legal, insurance and investment houses. The funds managed by these firms led to the square once being known as the richest street in Europe. Designed by Robert Adam in 1791, Charlotte Square’s distinctive neo-classical facades are a famous feature of Edinburgh’s New Town and form a focal point within the UNESCO World Heritage Site.

now, the vision of the charlotte square collection is to revitalise this much-loved architectural gem by creating high-quality office accommodation that more closely reflects the needs of modern commercial occupiers: a project designed firmly with today’s leading financial services companies in mind. the development is seeking to target high-end financial sector companies. charlotte square was once edinburgh’s principal business location and the charlotte square collection is determined to restore the square to its premier status.

corran properties limited is the developer and asset manager for the charlotte square collection which owns 19 properties on the square. the initial works also include a proposed £4 million improvement to the public spaces surrounding the central gardens. this aspect compliments the quality of workmanship to be applied to the buildings, and reinforces the physical and environmental rejuvenation of the square.

the initial phase comprises the renovation of six substantial townhouses, which form the south side of the square, to create four new properties. number 26, 28, 30 and 31 will respect the character of the georgian facade, with many original period features being retained, including high ceilings, fireplaces, traditional shutters and cornicing. interiors will blend large, connected period work spaces with new, open-plan accommodation created in a new mews building to hope street lane.

“each address will provide exceptional high quality office space likely to appeal to client-facing financial sector companies,”

says nick ball of corran properties. “the quality of the development will be akin to the high-end, period office refurbishments in london’s st James and Mayfair districts. the renovation of these stunning robert adam townhouse properties will respect and conserve the listed exteriors and provide a sustainable future for the buildings.

“the charlotte square collection will be a managed estate where the occupier can grow and work in partnership with the collection over many years. the primary focus is on quality, not just on the completed building specifications but on the meticulous level of occupier services that will be provided.

“there is a steadfast commitment to provide occupiers with best in-class management services and to foster long standing relationships. the objective is to work in partnership with the occupiers to deliver products and services that match their requirements.”

With the blending of inspired design choices and sensitivity to the needs of modern office occupiers, charlotte square is about to experience its own renaissance.

www.charlottesquarecollection.com

retained agentsangela lowee: angela.lowe@cushwake.comnick Whitee: nick@cuthbertwhite.com

charlotte square: grade a option For central reJuvenation

£4 million of investment in the public realm will enhance the setting of the square’s

prime neo-classical properties.

For more than 100 years, edinburgh

has been one of europe’s leading

financial services centres and a global

centre for asset management.

“each address Will provide exceptional high quality oFFice space.”

the atrium connects the townhouse offices to a new mews building.

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Edinburgh was named “European Destination of the Year” at the 2012 World Travel Awards – the so-called “Oscars of the travel industry”.

calling the award “fantastic news”, leader of the city of edinburgh council, andrew burns said, “edinburgh is already a multi-award winning city and this is further confirmation that edinburgh is a world class tourist destination steeped in history with a great atmosphere which hosts numerous world-renowned cultural events.”

the award came as edinburgh castle was named the uk’s top heritage attraction at the british travel awards for a second year.

reflecting the city’s ongoing popularity with international visitors, the number

Why is it Worth Watching?celtic renewables, a spin-out from edinburgh napier university, has recently announced a new business alliance with the tullibardine distillery that will drive forward its work to bring to market a viable alternative to petrol.

What does celtic reneWables do?celtic renewables was founded in June 2011 to commercialise a highly innovative fermentation process which combines the waste by-products of malt whisky production (draff and pot ale) and converts them into four products. one of these is biobutanol, a direct replacement for petrol that can be used in vehicles with no need for refitting. With oil prices at a near-record high, the value of a direct substitute for petrol such as biobutanol is clear.

1 to Watch celtic reneWables

destination oF the yearAfter appointing Shaun Kingsbury as its chief executive in September 2012, and being approved by the European Commission in October, the UK Green investment Bank (GiB) is open for business in Edinburgh.

its main focus for investment will be projects in the offshore wind, waste-to-energy and industrial energy efficiency sectors. other burgeoning sectors to be supported will include biofuels for transport, biomass power and renewable heat projects.

the gib has been capitalised with £3 billion up to 2015, and will operate on a commercial basis, primarily investing sums of £50–£100 million in projects offering returns of around 3.5%. however, £180 million has been allocated for smaller-scale projects. the gib announced its first two such investments in november:

£8 million to help build a new anaerobic digestion plant in teeside, converting waste into power; and £5 million to retrofit a panel-making factory in north Wales with energy efficiency technology.

the anaerobic digestion plant is the first of six planned waste-to-energy power plants. these will eventually produce 30MW hours of electricity, diverting more than 550,000 tonnes of waste from landfill. the gib will spend £80 million on that programme, with equivalent sums leveraged in from private sources.

the gib’s headquarters, back office and asset management functions are based in edinburgh, while the gib’s transactions team is located in london, building upon established linkages between the two cities around financial services.

the selection of edinburgh as the home of the gib was based on its performance

against two criteria: the ability to recruit and retain key staff and the ability to broker deals. edinburgh has the highest proportion of graduates in its workforce (40%) of any uk city. this skills base is bolstered by the four universities and the city’s quality of life, which help attract and retain top talent.

all elements of the green investment ecosystem are well-represented in scotland: investors (with £500 billion of assets under management), project developers (including two of the ‘big six’ uk energy suppliers) and natural resources (with 82% of the uk’s installed renewable energy capacity). “it really was a place where we could expect a green cluster to eventually form,” said lord smith of kelvin, the chair of the gib.

> Further information: www.bis.gov.uk/greeninvestmentbank

spark oF ignitionentrepreneurial spark, scotland’s first free business incubator and accelerator programme, has announced plans to open its first centre in the east of scotland. it will be able to accommodate up to 50 start-up businesses at any one time in its new edinburgh ‘hatchery’. in partnership with edinburgh napier university and the city of edinburgh council, the new centre will be supported with advice from well-known entrepreneur and philanthropist dr ann gloag. www.entrepreneurial-spark.com

GAmE HONOURS CiTY ViSTAEdinburgh has inspired the fantasy setting of one of this year’s biggest video games, ‘Dishonored’. French game developer Sebastien mitton based his fictional city, Dunwall, on Edinburgh’s cinematic streetscape. He said: “Old downtown Edinburgh represents what i love – a perfect mix of past and present.”

neW occupiers get good dealthe Fresh start initiative by the scottish government will offer new occupants of previously vacant shops or offices that have been empty for more than a year a 50% discount on business rates for 12 months.

HElp ON DiSplAYTwo 72” digital screens have been installed on princes Street. The screens provide pedestrians with information on nearby retail sales and promotions, as well as real-time transport updates.

panda-MoniuMedinburgh Zoo has reported that visitor numbers have risen by 50% since the arrival of the giant pandas tiantian and yang guang one year ago. edinburgh is one of just four zoos in europe with giant pandas.

GRASSmARKET BiDS FOR GROWTHTraders in the Grassmarket have voted in favour of establishing a Business improvement District.

uk green investMent bank invests

in response to growing demand for Chinese visas, a Chinese Visa Application Service Centre (CVASC) has opened in the Exchange Tower in the heart of Edinburgh’s central business district. One of just 18 in Europe, the CVASC will process visa applications from UK passport holders wishing to visit China.

the opening of the cvasc comes at a time of intense interest in scotland from chinese investors. last september, Mr Zhou xiaoming of the chinese embassy in london led a delegation of large chinese companies including the bank of china, china telecom and the shipping and logistics giant cosco to edinburgh, while in october, Mr yu bao heng of the state-owned assets supervision and administration commission of the state council (sasac) headed a deputation of 16 state-owned companies interested in learning more about edinburgh’s technology companies, in particular its growing cluster of renewable energy firms.

> Further information: www.visaforchina.org/EDi_EN

chinese open visa application service centre

edinburgh builds links With Middle eastCultural, educational and business links between Edinburgh and the middle East are growing ever stronger.

during october, the lord provost of edinburgh visited abu dhabi in his first international visit since taking office. during the visit he attended the abu dhabi science Festival, an event run in partnership with the edinburgh international science Festival that attracted over 120,000 visitors in ten days. the lord provost also presided over the signing of a memorandum of understanding between the abu dhabi Music & arts Foundation and the edinburgh international Festival promoting artistic co-operation and collaboration.

along the coast in dubai, heriot-Watt university is expanding its satellite campus in the emirate. the campus currently has 3,000 students, 1,700 of them post-graduates. there are a range of courses available, with the most popular being petroleum engineering. an expansion is currently underway that will enable the campus to accommodate up to 5,000 students.

in addition to these cultural and educational links, businesses are continuing to expand into the Middle east. the insurance and pensions carrier standard life, one of edinburgh’s oldest and largest companies, has announced that it will open an office in the dubai international Financial centre (diFc) as part of its plan to win savings and investments business in the high-growth market. Meanwhile, coutts, the wealth management division of the royal bank of scotland, has opened a new branch in the diFc and upgraded its banking license, enabling it to offer a fuller range of investment products.

of hotel rooms in edinburgh continues to rise. additions to the city’s accommodation include the Motel one edinburgh-royal in advocate’s close and the newly renovated twelve picardy place.

in another important development, scotland’s first hospitality and tourism academy has opened in edinburgh. the new academy – a partnership between edinburgh college, queen Margaret university edinburgh, east lothian council and the hotel industry – will offer specialised training to young people.

> Further information: www.worldtravelawards.com

the company is undertaking commercial trials of its patented fermentation process, and developing a blueprint for the deployment of the technology on an industrial scale. it is also assessing potential locations for its first commercial plant in scotland.

What does the tullibardine alliance involve?the partnership with tullibardine provides a guaranteed source of the whisky by-products needed to undertake the commercial trials. celtic renewables and tullibardine are also working together to further understand the environmental and commercial opportunities the technology presents.

What Will that Mean For the coMpany?With the supply of draff and pot ale through the partnership and additional funding from Zero Waste scotland, celtic renewables has been able to step up the scale of technology trials, potentially shortening the product’s time to market significantly.

> Further information: www.celtic-renewables.com

chinese consul-general Mr li rui you opens the new cvasc.

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neWARRiVAlS

Who’s on the Move?ceed is a community of businesses and academics who have come together to collaborate and share ideas. the aim is for each to become more efficient, more effective, more competitive and, in the case of business members, more profitable.

hoW does it Work?the organisation operates a clinic-based programme. each clinic covers a specific topic – there are currently twelve in all, including subjects such as lean manufacturing,

centre for engineering education and development (ceed)

mADE in EDiNBURGH

light FantasticA new concept that could revolutionise the way the world communicates is about to take its first steps in the marketplace.

visible light communication (vlc), or “li-Fi” as it’s been dubbed, is the brainchild of professor harald haas and his team at the university of edinburgh. it has the potential to revolutionise broadband communication by turning any electric light source – including the estimated 14 billion lightbulbs worldwide – into the equivalent of a wi-fi hotspot.

the technology works by affixing a microchip to a light emitting diode (led) that makes it turn on and off millions of times each second at speeds invisible to the human eye. this enables the led to transmit data using binary that is received by a light-sensitive receiver.

the first li-Fi development kit will be available for purchase from pure vlc (a spin-out from the university) early this year.

professor haas said: “in li-Fi we use the visible light portion of the electromagnetic spectrum for digital broadband communications.

“the visible light spectrum is 10,000 times larger than the entire radio frequency spectrum. it’s not regulated, it’s free and it’s waiting to be used.

“this technology represents such a great opportunity because the bandwidth of existing radio frequencies and cellular systems is being squeezed to capacity. this provides a huge additional resource.”

professor haas and his team have been staggered by the worldwide interest in li-Fi. time magazine named it one of the year’s best inventions, it’s been featured on cnn and there have been enquiries from as far afield as new Zealand and australia.

now that li-Fi is about to hit the market, the anticipation has intensified. professor haas added:

“it’s a very exciting time. We are at the forefront of something that could be transformative in terms of industry, development of new companies, new jobs and a new economy.”

> Further information: www.purevlc.com

major fashion and lifestyle groups have been making significant moves in Edinburgh recently.

hugo boss and Michael kors are among the latest designer names to take up residence at Multrees Walk, the city’s most exclusive shopping district. other new arrivals include the luxury women’s fashion chain Mint velvet and the preppy menswear chain hackett on george street (now 98.5% occupied) and the ‘streetwear’ label Fly53 in house of Fraser on princes street.

another Multrees Walk store, harvey nichols, is involved with a project designed to improve the service provided to visitors from the bric countries (brazil, russia, india and china) and the arab world. they’ve joined forces with edinburgh college to develop a programme that will see staff trained in languages and cultural awareness.

recent weeks have also seen the nearby linlithgow palace play host to chanel’s annual Metiers d’art fashion show in december. the prestigious event was

organised and hosted by the renowned chanel creative director, karl lagerfeld.

three of edinburgh’s independent retailers are celebrating after having been ranked amongst the 100 best shops outside of london by vogue magazine. designer clothing boutique Jane davidson, shoe specialist pam Jenkins and retro clothes outlet armstrong vintage emporium make up the distinguished trio.

also in celebratory mood are the retailers of st stephen street in the city’s chic stockbridge neighbourhood. the street is the first in scotland to be accredited as a recognised destination for customer service excellence by the global customer service training specialist Worldhost.

Finally, there’s good news for rose street, one of edinburgh city centre’s liveliest thoroughfares. it’s to receive a major revamp featuring new paving, illuminations, artworks and street furniture. the £940,000 investment is a joint initiative by essential edinburgh, the city of edinburgh council and primark.

> Further information: www.edinburgh-inspiringcapital.com /retail

The first series of findings from the 2011 census have been published, showing that the population of Scotland has reached 5.3 million – the highest ever recorded.

edinburgh has been a major driver of this growth, accounting for over 20% of the increase in population. this reflects in part edinburgh’s popularity as a place to live, which helps attract in-migrants to the city. in 2011, a uk-wide survey of 25,000 people named edinburgh one of

the 10 best places to live in the uk.commenting on the findings,

councillor andrew burns, the leader of the city of edinburgh council, said: “the census figures show the city is still attracting people not just to work, but also to live, here. it is testament to the fact the city economy has been relatively resilient through the downturn.”

> Further information: www.scotlandscensus.gov.uk

big naMes, big aWards

project management, health & safety, environment, training, marketing, and aerospace & defence. there are regular clinics where people share their knowledge and experience.

Why the Move to edinburgh?ceed currently operates in west central scotland where it has around 120 member organisations representing approximately 1,400 employees. it has always held growth ambitions and new support from scottish enterprise is now enabling it to expand further eastwards and expand its membership.

hoW Will edinburgh beneFit?ceed will set up a clinic programme specifically tailored to the needs of companies and education institutions in edinburgh and the lothians. the first step will be to bring members on board. ceed will begin dialogue with business people, academics and third party support agencies. With this, companies and academic institutions in edinburgh will derive significant benefits, as members in the west of scotland currently do.

> Further information: www.ceed-scotland.com

Those without a fear of heights will be given the chance to attempt a 50m freefall abseil from the Forth Bridge on 19 may and 27 October 2013. The abseils are being organised by a number of charities, including Chest Heart & Stroke Scotland and momentum Scotland.

edinburgh will host the atp champions of tennis tour, (www.championsoftennis.com/) in June 2013, with legends such as John Mcenroe, ivan lendl, stefan edberg and tour number one carlos Moya delivering a feast for tennis fans in the run up to Wimbledon.

the scottish sprint cup will be contested at Musselburgh racecourse (www.musselburgh-racecourse.co.uk) on 15 June 2013, with some of the uk’s fastest horses and most skilful jockeys competing for a £100,000 prize over five furlongs. billed as “scotland’s fastest race”, the sprint cup will be televised on Channel 4 Racing.

later in the summer, the r&a’s 2013 open golf championship (www.theopen.com) will be played at Muirfield, in east lothian, ensuring an outstanding summer for the capital city’s sport fans and an opportunity to showcase the city to the second biggest global audience for any annual sporting event!

population hits a peak

Multrees Walk, edinburgh’s luxury shopping street.

suMMer oF sport 2013

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gd> edinburgh airport is at the heart of the city’s connectivity and we compete with other eu airports for airlines’ business. We need to do what we do now, only better and faster.

We have already been able to add routes, with easyJet adding two aircraft to the five they base at edinburgh, supporting new routes to berlin, hamburg, prague, copenhagen, dubrovnik and reykjavik. these were selected after seeking advice from visitscotland, Marketing edinburgh and the business community. easyJet expect the routes will bring 140,000 more passengers to the city, which could benefit the economy by almost £90 million.

ryanair has also announced additional routes – adding bologna, cagliari, katowice, and santander, which makes 38 destinations they now fly to from edinburgh.

virgin atlantic, who will be operating to heathrow in 2013 from edinburgh, also offer fantastic global connectivity from t1.

ie> the airport already serves more than 140 destinations, with istanbul recently adding an exciting new hub for travel to the Middle east and Far east. What are the next targets for expansion of routes and/or airlines?gd> We push on a number of fronts and each new connection is a good connection. the Middle east is an interesting market, offering links to the Far east and australasia. already, the new istanbul route is delivering ahead of expectation and i have no doubt that there’s room for one other Middle eastern carrier – and we’re talking to them all. north america is also an obvious market for expansion – we already fly to newark, with united airlines, but we’re also looking at the West coast and the caribbean.

ie> in 2011, the airport welcomed 9.4 million passengers. as the airport expands, how will you support access and convenience for travelers?gd> our long-term plans anticipate growth of at least 50%, and we anticipate 13-20 million passengers per year. that means we must invest to stay ahead of the demand curve.

once we reach 13 million, there will be some additional questions – but that is some years away yet. We have significant building planned and are confident in the future; on our existing runway there is no current restraint on capacity, and a possible second runway is factored into the development plan long-term. the new tram-line, due to open in 2014, will provide a direct link between the airport and the

city centre via edinburgh park, improving accessibility for travelers.

West edinburgh is also identified as one of the most important development opportunities in the country. We are a fundamental driver of the West edinburgh strategy – working with government, the council and our neighbours, the royal highland showground, at ingliston, to ensure development is aligned. the debate is how we achieve the goal, not which goal we aim for.

ie> edinburgh airport enjoys a special mix of both tourism and business passengers. how different are these markets in terms of service preferences and how do you ensure you cater for the needs of both?gd> it’s a challenge – business travel accounts for about 30% of our passenger traffic annually and someone travelling twice weekly to london has different expectations to a family going on holiday. the needs of airlines also differ.

We’re here to make the right things happen. the airlines are our customers and so we segment what they want and deliver it. We have a big push on at the moment to reduce queuing at check in and bag drop off. We want everyone to have a good experience and have introduced fast track security – where business class passengers can pay to accelerate the process – and additional assistance lines will be placed in security, aimed at families.

ie> how can edinburgh airport help ensure the city attracts talent and investment?gd> edinburgh has a huge amount to offer – ask anyone from anywhere else in world who spends any time here: they rave about the quality of life.

We need global brands to continue to locate here. they need easy access to their markets. at edinburgh airport we facilitate this via good connections to national and international travel hubs, as well as

point-to-point travel. and we aim to ensure a good travel experience. the threat is airline taxation.*

ie> you were formerly managing director of edinburgh airport, and have now returned as chief executive officer; how does it feel to be back?gd> Fantastic. it is incredibly special to lead my home city airport at such a key time. over the next 10 years the airport is central to the vision for edinburgh’s growth. i have the backing of gip to make decisions and the enthusiasm across the city to take the airport to the next level is palpable.

ie> What do you see as the major strengths of edinburgh airport?gd> edinburgh’s local economy has remained robust despite the recession. as a city we enjoy a mix of education, tourism and business that helps bolster the local economy and provides the airport with a mix of traffic that is relatively unusual. that ensures our traffic flow is balanced. We effectively ‘punch’ double our weight and, in terms of traffic balance, we compare favourably with london. that’s why, recently, we’ve seen the opening of new routes to istanbul and toronto, and both easyJet and ryanair extend their presence here.

ie> you have been quoted as saying: “edinburgh airport’s future, its plans and its identity, will all be shaped in edinburgh, and our decisions will only be influenced by what is good for edinburgh airport, and the city and country we serve.” how autonomous is the airport under its new owners? gd> in a word: very. i sit on the board of edinburgh airport and the board makes decisions affecting edinburgh here. gip brings phenomenal expertise – they have world-class business improvement credentials – and are committed to continuous improvement in all their operations. it’s fantastic.

our chair is sir John elvidge, previously permanent secretary to the scottish government until 2010, and his knowledge

is particularly important as we raise the airport’s profile around the world, and build strong relationships in the city and beyond.

ie> how do you aim to “connect edinburgh with more destinations, and provide passengers with a great experience and more choice”?gd> by tackling first things first. our management structure means we can change quickly.

airlines are our customers and their focus is on-time departures. that is our big efficiency driver. there are 40 airlines using the airport and each operates on a different business model. We work directly with each to understand what they want.

We have already achieved rapid progress in customer service, cutting queues as we invest in security and check in procedures. our efficiency and process improvements are driving customer

satisfaction and cost savings. people can come to the airport with confidence in the quality of experience they’ll have.

ie> how well does the city support the airport’s own plans for growth?gd> since returning, i’ve found the attitude in edinburgh to be fantastic. i’ve met many business leaders across all sectors, including the edinburgh chamber of commerce, and met almost universal support for our plans. We support 5,000 jobs directly, and another 25,000 indirectly in scotland, so the airport’s success is seen as good for everyone.

i’ve also met with sue bruce, chief executive of the city of edinburgh council. she and her team understand that aviation and tourism growth will lead us out of recession and their attitude is very supportive. ‘team edinburgh’ has to come out in force and share the same ambition. everyone believes edinburgh is one of the best places in the world to live and they understand that if we stand together as a team we can persuade investors that they want to be here too.

ie> connectivity is a key feature in assessments such as the uk competitiveness index, which found edinburgh to be the uk’s most competitive large city. What does edinburgh airport need to do in order to help sustain that advantage?

gordon dewarceo, edinburgh airport

www.edinburghairport.com

Gordon Dewar was born and educated in edinburgh and was Managing director of edinburgh airport between 2008 and 2010. he then took up a post as chief executive of bahrain airport before being invited to return to edinburgh as chief executive officer by global infrastructure projects (gip), the airport’s new owners, last year.

his career in transport started as a consultant with halcrow, where he managed the company’s public transport business in scotland. he then became Managing director of First group’s east of scotland bus operations, then commercial director for First group in scotland and latterly commercial director for First scotrail.

in 2006, he joined arriva as commercial director for the uk regions, and was appointed Managing director of glasgow airport in 2007.

*Passengers flying out of airports in the UK are liable to pay Air Passenger Duty of between £13 and £184 depending on the flight distance and class of travel.

We have already been able

to add routes, With easyJet

adding tWo aircraFt to the

Five they base at edinburgh

supporting neW routes to

berlin, haMburg, prague,

copenhagen, dubrovnik

and reykJavik. in april 2012, global infrastructure partners (gip) acquired edinburgh airport. the price paid

(£807 million) was seen as a signal of the value of the asset – and of its growth potential.

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World-leading Medical research

in recent years, the city has leveraged the undeniable genius of its medical innovators with careful planning and a shared sense of purpose. scotland is

now one of the few countries able to offer pharmaceutical companies access to a comprehensively phenotyped* population of more than five million individuals covered by a single healthcare provider, representing a unique location of choice for clinical trials and pre-clinical research.

today, edinburgh is home to a critical mass of research excellence – from genetics, to regenerative medicine, inflammation, cardiovascular disease, diabetes, reproductive biology, immunology, cancer and infectious diseases. the city brings together researchers, clinicians, investors and private firms in a unique collaborative environment where the latest scientific advances can be rapidly translated into new treatments for patients.

innovationthis ‘bench-to-bedside’ approach places edinburgh at the forefront of translational medicine and is epitomised by the edinburgh bioquarter. combining some of the best medical research in the world with a major teaching hospital, dedicated bio-incubator facilities and a team of business development personnel, this ground-breaking initiative provides access to a concentration of expertise.

this expertise is addressing health issues with an increasing impact beyond the Western economies. these conditions include diabetes, cardiovascular disease and cancer, which are at the forefront of attention for the arab health congress, the largest and most important educational event of its kind.

“these three conditions are each becoming increasingly prevalent in the arab world,” explains dr Mike capaldi,

commercialisation director at edinburgh bioquarter. “We already collaborate with a number of companies in these areas. For instance, we’ve recently announced a partnership to discover new anti-cancer compounds with galapagos, a belgian biotech company. this follows a similar collaborative partnership between glaxosmithkline and the university of edinburgh to develop treatments for acute pancreatitis.”

in october 2012, the global contract research organisation, quintiles, awarded scotland “prime site” status, identifying it as a location of choice for clinical trials in recognition of its “broad therapeutic expertise [and] reputation for high-quality research”. ppd also have a preferred partnership.

the university of edinburgh and the national health service (nhs) are both

founding partners in health science scotland, a delivery vehicle for large-scale collaborations with private firms aimed at generating new commercial outputs.

More and more companies are being drawn by the world-class reputation of edinburgh’s research base. at edinburgh bioquarter alone, current research assets include the 870-bed royal infirmary of edinburgh, the medical school of the university of edinburgh, and the university’s queen’s Medical research institute (qMri)and scottish centre for regenerative Medicine (scrM) – representing a total of some 1,200 medical researchers.

three of the specialist research centres at edinburgh bioquarter are directly funded through the uk’s Medical research council (Mrc), which prioritises research that is most likely to deliver improved health outcomes and accelerate progress in international health

research. these centres – the Mrc centre for reproductive health, the Mrc centre for inflammation research and the Mrc centre for regenerative Medicine – are among the leading uk medical research institutes in their respective disciplines. the bioquarter is also home to the british heart Foundation centre for cardiovascular science, which conducts internationally leading research on cardiovascular disease and is currently one of only four bhF centres of research excellence.

the Mrc centre for regenerative Medicine, housed within scrM, is at the global forefront of research into stem cells and their application in the treatment of diseases such as cancer, heart disease, diabetes, liver failure, multiple sclerosis and parkinson’s disease. it has collaborative studies underway with international partners such as the harvard stem cell institute and peking university stem cell centre in beijing.

across four centuries, edinburgh has been

the birthplace of many medical innovations,

including anaesthesia, a genetically engineered

vaccine for hepatitis b, the first cloned mammal

and the bionic finger.

*a phenotype is the range of observable characteristics of an organism, such as its biochemistry and behaviour.

“We already collaborate

With a nuMber oF coMpanies

in these areas. For instance,

We’ve recently announced a

partnership to discover neW

anti-cancer coMpounds

With galapagos, a belgian

biotech coMpany.”

edinburgh: FroM bench to bedside

<Feature

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collaboration“edinburgh bioquarter has one of the highest populations of internationally excellent researchers in the uk,” explains rhona allison, senior director of life sciences at scottish enterprise. “it shows how public sector support can create an effective environment for academics and clinicians to develop collaborative ventures.”

2013 will extend this strength and depth with the opening of the anne rowling regenerative neurology clinic. based on a donation from harry potter author, J.k. rowling, this centre will focus on the development of therapies for those suffering from multiple sclerosis and neurodegenerative conditions.

over the next five years the research community at bioquarter will continue to expand, with more than 2,000 scientists located at the site by 2016. this will come through the addition of the scottish Mind and body (neurology) centre (opening in 2016) and the £150 million replacement for edinburgh’s royal hospital for sick children (rhsc) and department of clinical neurosciences (dcn) (opening in 2017), both of which will increase the concentration of research and clinical assets at bioquarter.

the rhsc and dcn development will bring together paediatric care with specialist neonatal care already on site in the simpson centre for reproductive health. it will also ensure neurosciences for children and adults is carried out in close proximity to the neuroscience research centres.

dr charles Winstanley, chair of nhs lothian says: “there will be a real benefit in having adult, children’s and maternity services on the same site and alongside the university of edinburgh. being part of the bioquarter allows our clinicians to further develop their relationships with the university and other research institutes to bring research to the bedside and deliver real benefits for our patients.”

at bioquarter there is provision of state-of-the-art clinical research infrastructure. “this ranges from the first academic phase 1 Mhra accredited unit in the Wellcome trust clinical research Facility to the multimodal clinical research imaging centre and clinical trial support provided by the uk crn accredited edinburgh clinical trials unit and health services research unit,” says prof david newby, nhs lothian director of research and development.

“the provision of world-leading clinical research infrastructure means that bioquarter, together with nhs lothian and the university of edinburgh, can deliver the most innovative and cutting edge

<Feature

nick langant: +44 (0)131 469 3670 e: nick.langan@

edinburghsciencetriangle.com

The Edinburgh BioQuarter (above)is just one of the seven centres of scientific excellence in Edinburgh and the surrounding area which together constitute the Edinburgh Science Triangle (EST). in total, the EST spans more than 3,000 world- class researchers and over 100 market-leading companies.

est facilitates collaborations between academics, clinicians and

the private sector, advancing scientific knowledge and producing new treatments for patients. the partners involved include the university of edinburgh, heriot-Watt university, scottish enterprise, the national health service, the Moredun Foundation and commercial property developers. • Alba innovation Centre –

a technology business incubator focusing on electronics and it.

• BioCampus – a dedicated bio-manufacturing facility designed for the production of next generation biotechnology products.

• Edinburgh BioQuarter – a location bringing together a world-renowned medical school, state-of-the-art teaching hospital and bespoke biomedical research and development facilities.

• Edinburgh Technopole – the university of edinburgh’s science and technology park, pitched at businesses at all stages of development.

• Heriot-Watt Research park – a science park located on the campus of heriot-Watt university, with a focus on research, development, design, engineering, training and prototyping activities leading to manufacturing.

• pentlands Science park – a science park focusing on animal and veterinary bioscience, home to the Moredun Foundation.

• Roslin BioCentre – a science park focused on life sciences, recognised as the birthplace of ‘dolly the sheep’, the world’s first cloned mammal.

> Further information: www.edinburghsciencetriangle.com

modern drug development techniques rely on the analysis of vast arrays of biological data for the discovery and trialling of new drugs. Researchers and pharmaceutical companies need to identify relevant parts of these datasets then analyse this data rapidly and efficiently.

pharmatics was founded by dr Felix agakov and professor paul Mckeigue to respond to this challenge. the winner of the annual bioquarter innovation competition, pharmatics, aims to change the way large-scale biological and medical datasets are analysed by providing intelligent software and services to assist with the analysis of complex and incomplete biological measurements. as ceo dr Felix agakov puts it, “by applying cutting-edge machine learning techniques we reduce very complex data to manageable combinations of the most promising factors. Wherever possible, datasets are analysed jointly rather

than independently of each other, with mathematical models substituting for the unobserved or unmeasured factors.”

since winning the bioquarter innovation competition last year (and receiving a proof-of-concept grant of £10,000), pharmatics has joined the MiMomics consortium of 16 leading academic institutions and small/medium enterprises which has been awarded €6 million from the european commission to develop new statistical methods for analysing biological data.

pharmatics was also admitted into the international training network in Machine learning for personalised Medicine, which includes leading european scientific research organisations and industries, like Max planck institute and siemens.

For Felix, the bioquarter represents a great place to start a business: “edinburgh is one of the world’s best locations for companies working at the intersection of medicine, biology and machine learning.”

giles dudley e: giles.dudley@bioquarter.comwww.pharmaticsltd.comwww.bioquarter.com

the edinburgh science triangle

“having the children’s

hospital alongside other

acute Facilities at little

France and in being

alongside the university oF

edinburgh [Will] give us the

ability to bring research

literally to the bedside.”

data Mining For drug developMent

translational medicine research on a single campus and with the support of world authorities in their field.

coMMercialisationJune 2012 saw the opening of nine, a new bio-incubator at the bioquarter. it offers more than 7,400m2 of incubator and office space for both newly-formed companies and established leaders in the bio-pharmaceutical industry seeking to locate in close proximity to the research assets at bioquarter.

companies have been keen to be involved from day one. in november, four new businesses announced their commitment to the bio-incubator, marking seven companies within four months of opening.

“scotland needs a business environment that supports growth in our life sciences sector, enabling us to compete over the long term with other international locations for investment,” adds rhona allison. “nine is a cornerstone of this sector’s aspirations for growth. it demonstrates the real value of the expertise and capabilities that are brought together here, enabling cutting edge companies to thrive and grow.”

the commercialisation team at edinburgh bioquarter has already spun out eight new life sciences businesses. new companies include i2eye diagnostics, developers of the world’s first visual field analyser for children; insulin pump cover supplier ipsox and aquila bioMedical, a pre-clinical contract research organisation for central nervous system and neurological disorders.

the team has also delivered four new collaborations with international bio-pharmaceutical companies – in addition to the agreements signed with uk-based glaxosmithkline and belgium-based galapagos, agreements are also in place with the crack-it consortium, led by Johnson & Johnson (usa) and eli lily (usa), as well as a research programme for fibrosis with galecto biotech ab (sweden).

these and future collaborations create a pulse of innovation, collaboration and commercialisation in edinburgh that will deliver benefit to patients around the world, providing a fitting legacy for the long list of medical pioneers whose talents have graced edinburgh over the past four hundred years.

opportunities For your organisation in edinburghthe edinburgh science triangle can provide free and impartial expert advice on topics such as research collaborations, technology licensing and property options. if your organisation is involved in medical research (or any other scientific field) and you are interested in exploring the opportunities for your organisation in edinburgh, please contact nick langan at the edinburgh science triangle for a confidential discussion.

ninescrM

edinburgh bioquarter

1 queen’s Medical research institute

2 royal hospital for sick children (from 2017)

3 anne rowling regenerative neurology unit

4 university of edinburgh Medical school

5 royal infirmary of edinburgh

5

4

3

2

1

body & brain institute (2016)

<Feature

| January to March 2013 | iNVEST EDiNBURGH 13www.investedinburgh.com12 iNVEST EDiNBURGH | January to March 2013 |

“edinburgh is home to one of europe’s leading medical research knowledge hubs; offering

an environment where medical discoveries can be rapidly translated into clinical products.

What benefits do you see in having academics, clinicians and businesses working in

such close proximity and encouraged to interact? What, in your view, is the potential for

commercialisation, collaboration and innovation?”

Diane Harbison, Head of Business Development at Edinburgh BioQuarter We’re building a leading european academic

Medical centre here at bioquarter, combining outstanding biomedical research at the university of edinburgh with the clinical expertise of nhs lothian and an experienced commercialisation team.

We take original scientific concepts and secure support for “proof of concept” programmes. then, with our long experience of company creation and raising venture finance, we filter and develop proposals, working with researchers and clinicians to build business plans that are “investor ready”. it all helps accelerate the development of new treatments for human and animal diseases.

part of the bioquarter’s role is to enable innovation and stimulate a “commercial culture” in the nhs and university of edinburgh. since 2010, we’ve run a successful seminar series and networking events between academics, entrepreneurs and investor organisations, as well as hosting conferences on a range of biomedical topics. We also run an annual innovation competition, which has produced new companies and fresh collaborations with industry.

in these ways, our commercialisation team works with researchers, industry and investors to bring new drugs, diagnostic tools and medical devices to market.”

professor Charles ffrench-Constant, Director of the medical Research Council (mRC) Centre for Regenerative medicine at

the Scottish Center for Regenerative medicine and Chair of medical Neurology at the University of Edinburgh edinburgh holds a leadership position in the stem cell and regenerative medicine field, dating back to the first stem cell publications in the early 1990s. since then, research and technology has evolved rapidly and edinburgh has continued to excel scientifically.

edinburgh bioquarter’s development at little France has given us an opportunity to further develop the regenerative medicine efforts in the uk.

With a large state-of-the-art teaching hospital, the university of edinburgh’s world-renowned medical school and bespoke biomedical research and development facilities all on one site, it offers an ideal location for academic research collaborations, stem cell technology development, manufacturing and progression to clinical trials.

“our great strength lies in this ability to bring together world-class clinicians and scientists, enabling the translation of laboratory discoveries into treatments for patients. the research is already finding treatments for devastating conditions.”

Rhona Allison, Senior Director of life Sciences at Scottish Enterprise our life sciences sector continues to grow even in this challenging economic

climate. projects such as edinburgh bioquarter are establishing the business environment that’s needed to attract new investment and talent to scotland and we need to continue to encourage greater collaboration in the sector both here in scotland and internationally. by doing this we can help create long term sustainable growth for the scottish economy.

“We’re building a leading

european acadeMic Medical

centre here at bioquarter.”

“our great strength

lies in this ability to

bring together World-

class clinicians and

scientists, enabling the

translation oF laboratory

discoveries into

treatMents For patients.

the research is already

Finding treatMents For

devastating conditions.”

malcolm Bateman, Chair of Edinburgh Science Triangle there’s no doubt that commercial, clinical and academic strengths,

combined with edinburgh’s world-class talent base makes us a powerful partner in the healthcare market. there are highly developed networks here in edinburgh between universities, the health service and life science businesses which facilitate the translation of innovative excellence into successful products or spin-outs.

the potential is vast. We’re about to attend the arab health congress in dubai to showcase our potential. paediatrics and e-health are significant areas of interest for arab health, and edinburgh has a world-class reputation in both.

the investment of £150 million to redevelop edinburgh’s famous royal hospital for sick children, which will move to its new home at edinburgh bioquarter in 2017, will help secure the city’s leading reputation in paediatrics: one that has been built over 150 years, since the hospital first began caring for children and young people.

More recently, in the area of e-health, edinburgh-based craneware has established a leading international reputation for its hospital billing, auditing and compliance software. it has just reported a 16% rise in first half pre-tax profits to $10.8 million.

it is the proximity of academics, clinicians and businesses that makes edinburgh a truly innovative city in medical research and clinical commercialisation.

professor Nick Hastie, Director of mRC institute of Genetics and molecular medicine and mRC Human Genetics Unit at the University of Edinburgh

turning the potential of the genetic revolution into clinical reality is what edinburgh excels at. For example, one challenge we face is to understand how human genes work together to build a human. We also need to discover how subtle dna differences help shape human diversity and influence susceptibility to a wide range of common diseases.

now, the university of edinburgh has received almost £60 million ($95 million) of awards from the Medical research council (Mrc), the uk’s national medical research agency, to help scientists gain fresh insights into illnesses and inherited disorders such as arthritis, and cystic fibrosis.

the funding – to the university’s Mrc human genetics unit and the Mrc institute of genetics and Molecular Medicine – will help doctors develop and deliver new tests and therapies for patients.

Graham Hatton, Senior Economic Development Officer, the City of Edinburgh Council there is no doubt that edinburgh has

world–class medical expertise however, there is intense global competition to attract the best minds. despite this competition, i believe that edinburgh, in addition to the critical mass of research knowledge and its excellent facilities, has the right strengths to foster collaboration and innovation.

one of edinburgh’s strongest assets is that it is a great place to live and raise a family. the education system has several of europe’s top schools

and universities and they attract students from around the world.

edinburgh is also a great place to start a business. the city is home to a wide network of experts who can support new businesses. this allows founders to focus their minds on developing their businesses and not the day-to-day running of it.

Aidan Courtney, CEO, Roslin Cells roslin cells spun-out from the roslin institute in edinburgh in 2006. We established the company to produce clinical

grade embryonic stem cells. in launching, we took advantage of

the resources already established at the institute, but benefited greatly from a broader initiative to establish edinburgh as a globally competitive centre for regenerative medicine.

our ability to recruit a highly gifted and professional team, who underpin the company’s success and progress, is due to our ability, here in edinburgh, to bring that vision to life.

in november 2011, we established the gMp* cell therapy Facility jointly with the scottish national blood transfusion service at the scottish centre for regenerative Medicine. this was a notable step towards delivering stem cell-based cell therapies. We have also responded to new opportunities by establishing our non-gMp activities which focus on producing induced pluripotent stem cells for academic and commercial research – and subsequently for clinical application.

*GMP - Good Manufacturing Practice

round table:

“edinburgh is also a great

place to start a business.

the city is hoMe to a

Wide netWork oF experts

Who can support neW

businesses. this alloWs

Founders to Focus their

Minds on developing their

businesses and not the

day-to-day running oF it.”

“one oF edinburgh’s

strongest assets is that

it is a great place to live

and raise a FaMily. the

education systeM has

several oF europe’s top

schools and universities

and they attract students

FroM around the World. “

<insights

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built on successin 2012, edinburgh’s office property market saw its strongest performance

since the beginning of the global economic downturn.

Figures published by DTZ reveal that 96 office deals were concluded in the first 10 months of the year, with the firm predicting a 50% year-on year increase in office space take-up over 2011 – the market’s strongest performance since 2007.

take-up of edinburgh’s prime space over the period was double the long-term average. “it’s grade ‘a’ all the way,” said dtZ director, Mark Jones. “edinburgh’s flight to quality is more prevalent now than in previous years, accounting for 60% of the total space leased.

“What we have seen is the growth of it providers supporting the financial services sector – firms such as FnZ and avaloq – who can expand rapidly, employing high calibre graduates from the university of edinburgh.”

cameron stott, director at Jones lang lasalle, commented on the take up in the first half of the year: “the strong showing was bolstered by a number of significant city centre lettings in the first half, including blackrock, who moved into exchange place 1; brewin dolphin securing a pre-let at atria and the arrival of both skyscanner and investec at quartermile one.”

the arrival of edinburgh’s trams, in summer 2014, will boost the attractiveness of properties on the west side of the city, particularly for financial institutions with many interactions with london. there is around 50,000m2 of available office space in West edinburgh, of which approximately 20,900m2 is

located in edinburgh park, situated close to edinburgh airport. it is well-established, with more than 25,000 staff and more than 12 Ftse 100 companies based in or around it. edinburgh park is ideally located for links to the city centre, locations across the central belt of scotland and further afield.

With rents in new build prime city centre office buildings being in the region of £320/m2, edinburgh park is once again offering very competitive rental terms at less than half the occupancy costs of the city centre. With occupiers concerned about overheads, it can offer cost effective office accommodation with all the amenities of the city centre.

the award-winning business park offers a unique working environment: tranquil landscaped surroundings with the convenience of nearby urban facilities that include the gyle shopping centre, two hotels, the edinburgh park railway station and various amenities.

the philosophy behind the development was to create a unique environment that would encourage productivity, from the landscaped surroundings to the architecturally diverse buildings. these principles have appealed to many top performing companies; including aegon, bt, diageo, agilent technologies, hsbc, J.p. Morgan, lloyds banking group and computershare investor services.

edinburgh park benefits from an excellent transport infrastructure – including three tram stops from 2014 (testing of the tram network commenced in december 2012) – and is within a few minutes drive of edinburgh airport, where the recent addition of new routes by both easyJet and ryanair, mean travellers can fly direct to 140 destinations.

the city’s resilient economy means that overseas investors also remain interested in prime properties: german fund gll is reported to be under offer to acquire calton square in the city centre, while Middle eastern investors are also attracted by the returns when compared to the expense of similar properties in london.

As Scotland’s ‘culinary footprint’ grows around the world, several Edinburgh-based firms are playing an incisive part in encouraging an appetite for food with a Scottish heritage.

among them is genius, which specialises in gluten-free baked goods suitable for people with gluten intolerances. established in 2009, genius has made rapid progress in export markets. chief executive roz cuschieri said: “genius products are now sold in spain through carrefour and in north america through a partnership with smart balance/glutino.

“not only are we looking to expand in other key international markets, we are being directly approached by retailers who want to stock our products.

“our long-term aim is to become the first globally recognised gluten-free brand. partnerships, such as the one we have with smart balance/glutino, are really important to us and offer a relatively swift way of entering new markets.”

roz believes edinburgh has been the perfect base for the company. “it’s a world-renowned city for business and culture with great transport and technical links to europe and the rest of the world.”

another of the city’s distinctions is its long history of biscuit and cake production, and two of its most famous names have a strong presence in international markets.

For oatcake manufacturer nairn’s (founded in 1888), overseas business currently makes up around 6% of its £18 million turnover, as katie birrell, the firm’s export sales Manager explains.

“We export to around 20 different markets, but our top five are the united states, canada, south africa, new Zealand and australia. a secondary focus market is the Middle east.

local eating habits play a part in nairn’s success in its top five. “there’s a snacking culture and people consume biscuits and crackers,” said katie.

the firm has a taste for further expansion. “We’d like to grow in existing markets – there’s still a lot of potential in our top five. We’re also looking at the bric countries. We believe there are good opportunities in russia and india in particular.”

burton’s biscuit company is a uk-wide operation with one of its major production sites in edinburgh. With a long export history, its 2011 accounts show international business at around £50 million, and more growth is expected in 2012. in september, the firm undertook a multi-million pound investment to improve the edinburgh plant’s production and logistics capabilities.

steve newiss, the company’s chief commercial officer, said: “our royal edinburgh shortbread – manufactured in the city – is very popular from central europe to china. another edinburgh-made product, cartoonies chocolate biscuits, is very popular abroad; indeed it’s produced almost purely for the export market.”

burton’s products are now sold in over 50 countries. steve added: “We believe there’s no one single ‘best international market’, but rather seek opportunities for our brands to really connect with local consumers.

“We’re focusing on building our presence in the fast-growing developing world, including Mexico, china and parts of the Middle east, as well as reinforcing our brand’s presence in traditional markets.”

the success of firms such as burton’s, nairn’s and genius is ensuring that the world’s pantry is well-stocked with a flavour of edinburgh.

edinburgh aims to help

annual exports by the scottish

food and drink industry break

£7 billion by 2017.

Flavour oF edinburgh

agents for edinburgh park:Jones lang lasalle cameron stott t: 0131 225 8344 gva grimley:toby Withall and simon capaldit: 0870 900 89 90

“What We have seen is the groWth oF it providers supporting the Financial services sector – FirMs such as FnZ and avaloq – Who can expand rapidly, eMploying high calibre graduates FroM the university oF edinburgh.”

www.scotlandfoodanddrink.orgwww.geniusglutenfree.comwww.nairns-oatcakes.comwww.burtonsbiscuits.com

steve newiss.

“We are Focusing on building our presence in the Fast-groWing developing World, including Mexico, china and parts oF the Middle east, as Well as reinForcing our brand’s presence in traditional Markets.”

www.investedinburgh.com16 iNVEST EDiNBURGH | January to March 2013 | | January to March 2013 | iNVEST EDiNBURGH 17

<Makingithappen <addedextras

JOBS iN EDiNBURGH BY SECTOR (2011)pOpUlATiON OF EDiNBURGH BY AGE BAND (2011)

WORKiNG AGE pOpUlATiON OF EDiNBURGH BY HiGHEST QUAliFiCATiON (2011)

BUSiNESSES iN EDiNBURGH BY EmplOYEE SiZE BAND (2011)

FOREiGN lANGUAGES SpOKEN FlUENTlY BY RESiDENTS OF EDiNBURGH (2012)

WORKiNG AGE pOpUlATiON OF EDiNBURGH BY ECONOmiC ACTiViTY (2009/10)

Manufacturing (7,300)

85+

75–84

65–74

55–64

45–54

35–44

25–34

20–24

16–19

0–15

5

4

3

2

1

0

50 40 30 20 10 0 10 20 30 40 50

Construction (9,000)

No qualifications (8%)

37.8

11.6

21.7

49.0

34.9

30.7

25.0

15.6

10.1

3.4 7.3

15.0

18.6

26.0

33.2

34.8

49.5

23.7

11.7

35.8

Source: Office for National Statistics

Source: Scottish Government

Polis

h (4

.8%

)

French 2.6%)

Punjabi-Urd

i (2.5%)

German (1

.8%)

Italia

n (1.2%)

Spanish (1

.0%)

Panjabi (0.6%)

Mandarin (0

.4%)

Cantonese

(0.3%)

Arabic (0.2%)

Source: The City of Edinburgh Council

Source: Office for National Statistics

Source: Office for National Statistics

Source: General Register Office for Scotland

Perc

enta

ge (%

)A

ge (y

ears

)

Language

Population (‘000s)

Female Male

Other qualifications (5%)

Standard Grade (13%)

Higher/ Advanced Higher (23%)

Higher National Certificate/Diploma (11%)

0–4 (10,875)

5–9 (2,060)

10–19 (1,085)

50–99 (170) 100–249 (115)

20–49 (490) 250+ (105)

Degree or above (40%)

Transport and storage (10,200)

Information and communication (12,400)

Other service and household activities (15,500)

Primary industries (3,300)

Business services (53,400)

Wholesale and retail (36,400)

At school (2%) Unable to work due to short-term ill-health (1%)

Full-time employment (46%)

Higher/further education (13%)

Part-time employment (12%)

Self-employed (7%)

Looking after home/family (6%)

Unemployed and seeking work (6%)

Permanently retired from work (3%)Permanently sick or disabled (3%)

Public administration, education, health (93,200)

Financial services (34,600)

Hospitality (26,800)

KEY DATA

ANNUAl STATiSTiCAl OVERViEW

iNDiCATOR NUmBER DATE SOURCE

population 495,360 2011 general register office for scotland

households 221,954 2011 general register office for scotland

Working age population 355,767 2011 general register office for scotland

average annual wage of workers £24,700 2011 office for national statistics

average annual disposable income £17,300 2010 office for national statistics

annual output per worker £57,600 2011 office for national statistics

average annual office rent £290 per m2 2012 ryden

average residential property selling price £217,500 2011 registers of scotland

annual airport passengers 9.4 million 2011 civil aviation authority

annual rail passengers 23.7 million 2011 office of rail regulation

annual tourist visits 3.7 million 2011 visitscotland

annual tourist expenditure £1.2 billion 2011 visitscotland

FTSE 250Murray international trust 1038 1057.0 1.8

FTSE FlEDGliNG iNDExJohnston press plc 6.2 12.2 97

EDiNBURGH COmpANY iNDEx - SHARE pRiCE COmpARiSON (pENCE)FTSE 100 20/09/12 04/01/13 % changeroyal bank of scotland group 265.3 331.0 24.7standard life plc 277.7 351.6 26.6cairn energy 286.8 278.4 -2.9

FTSE Aim All SHAREhavelock europa plc 10.6 12.6 18.8bowleven plc 77.2 69.4 -10.1craneware 404 382 -5.6cupid ltd 199 193 -3.0indigovision group plc 360 346 -3.8omega diagnostics group plc 16.7 16 -4.2

FTSE SmAll CApJohn Menzies plc 646 630 -2.4petroceltic (previously Melrose resources) 130 7 – –optos plc 170 170 0Wolfson Microelectronics plc 213.7 207.0 -3.1

mAJOR iNVESTmENT TRUST COmpANiESaberforth smaller companies trust 663 715 7.8caledonian trust 72.5 53 -26.8edinburgh dragon trust 245.4 274.7 11.9edinburgh investment trust 515 516.1 0.2north american income trust 713.7 702 -1.6scottish american investment co. 219.6 236 7.4scottish Mortgage investment trust plc 715 775.5 8.4the scottish investment co. plc 484.2 504 4.0

Figures were taken from www.google.co.uk/finance on 04/01/13.

<thestatistics

18 iNVEST EDiNBURGH | January to March 2013 | | January to March 2013 | iNVEST EDiNBURGH 19

all rights reserved. Material contained in this publication May not be reproduced, in Whole or in part, Without prior perMission oF the city oF edinburgh council (or other copyright oWners). Whilst every eFFort is Made to ensure that the inForMation given herein is accurate, no legal responsibility is accepted For any errors, oMissions or Misleading stateMents.

edinburgh in brieF...

see overleaF For More statistics...

Total foreign direct investments

1Expansions of existing investments

analysis oF Fdi proJectsCountry of origin of investors

North America accounted for 27% of all FDI projects, while Europe accounted for 58%. Australasia accounted for 5%, while Asia accounted for 9%

Sectors

Activity

21New

investments

22

investMents in 2012

504Jobs created

= 10 jobs

United States = 6

Germany = 5France = 5

Ireland = 2

Sweden = 1

China = 1H

ong Kong = 1Australia = 1

0

1

2

3

4

5

6

7

8

9

10

Text

iles

Soft

war

e &

IT s

ervi

ces

Engi

nes

& T

urbi

nes

Busi

ness

Ser

vice

s

Tran

spor

tatio

n

Hot

els

& T

ouris

m

Cons

umer

Pro

duct

s

Med

ical

Dev

ices

Phar

mac

eutic

als

Plas

tics

Retail = 6

Sales, Marketing & Support = 5

Headquarters = 3

Logistics, Distribution & Transportation

= 3

Design, Development & Testing = 2

Construction = 2Business Services = 1