invest edinburgh (october- december 2014)

1999Royal Yacht

Britannia arrives2004Edinburgh named

first UNESCO City of Literature

2014Tram launches

2009Touch Bionics releases

first bionic finger

50

NEW INVESTORS TOUCH DOWN

WILL YOU BE NEXT TO LAND IN EDINBURGH?

OCTOBER TO DECEMBER 2014

ALSO INSIDE ISSUE 50 SCOTTISH FILM STUDIO 10 QUESTIONS FOR AVALOQ INNOVATION MALLZEE PREPARES FOR SERIES A ROUND GAME MASTERS COMES TO TOWN ZOMATO ARRIVES

2011Giant pandas arrive 2013

Grand Theft Auto V record launch

2007The UKs most powerful supercomputer is established in Edinburgh

2000Restaurant Martin Wishart receives Edinburghs first Michelin star

IN THIS ISSUE

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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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THE FIRST WORDHello and welcome to the 50th edition of Invest Edinburgh.The years since this magazine was first launched have seen countless positive stories for Edinburgh, including radical enhancements to the citys connectivity such as the tram line and the expansion of Edinburgh Airport, the booming popularity of Edinburgh as a visitor destination, and the rapid expansion of innovative firms like Skyscanner, Genius Foods, IndigoVision, and many more. Edinburghs economy proved resilient throughout the economic downturn and is well positioned to play a major role in the future of the global economy.

This issues Capital Focus looks at plans for a film studio complex on the outskirts of Edinburgh. Already a hugely popular destination for location filming, thanks to its iconic scenery and architecture, the project has the potential to transform Scotlands film industry.

One to Watch looks at shopping app developer Mallzee, which is preparing for a Series A funding round next year, while Made in Edinburgh looks at indicio, software developed by Heriot-Watt University that can predict when sportspeople are at risk of injuries. Meanwhile, Indian digital restaurant guide Zomato is the subject of New Arrivals.

Swiss financial software firm Avaloq is among the blue chip businesses to have invested in Edinburgh in recent years. We talk to UK managing director Chris Zwicker in this issues 10 Questions.

In our cover feature, we reflect on some of the landmark investments Edinburgh has secured over the past 12 years and the assets that make the city an attractive place to do business.

Making it Happen looks at ongoing improvements to Edinburghs public realm, while Added Extras covers the Game Masters exhibition taking place at the National Museum of Scotland this winter.

Finally, this issue looks at the Moorfield Groups plans to deliver 19,500m2 of new office space at Quartermile in what is one of the largest ever speculative office developments in Edinburgh. This 80m investment is testament to the strength of Edinburghs economy and the confidence this instils in investors.

Thank you for reading.

COUNCILLOR FRANK ROSS,Convenor of the Economy CommitteeThe City of Edinburgh [email protected]

To find out more about how we can help you, please contact the Investor Support team at [email protected] or on +44 (0)131 529 6600.

04 SNAPSHOTS An update on whats happening in Edinburgh

07 NEW ARRIVALS Digital restaurant guide Zomato get a taste for city

08 10 QUESTIONS FOR Christoph Zwicker, managing director of Avaloq Innovation

10 (cover story) WILL YOU BE NEXT TO LAND IN EDINBURGH? The strengths and opportunities that have kept Edinburgh a great place to invest over 50 issues

14 ROUND TABLE What is the appeal of the city to companies?

16 MAKING IT HAPPEN Ambitious projects bring vibrancy to public spaces

17 ADDED EXTRAS Edinburgh is only European stop for Game Masters

18 THE STATISTICS The latest key indicators for the Edinburgh economy

08

05

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2 INVEST EDINBURGH | OCTOBER TO DECEMBER 2014 |

The 120m project, spearheaded by Pentland Studios, would deliver a world-class studio complex on a 43 hectare site to the south of the Edinburgh City Bypass.

The complex would include soundstages, workshops, backlots and offices, along with a 180-bedroom hotel, a satellite university campus, a data centre and an employment zone. The largest soundstage would be approximately 2,800m2 and 21 metres tall. A dedicated combined heat and power plant would service the complex.

Pentland Studios has agreed outline terms with both the landowner and a studio operator, and is working with investors to bring the scheme to fruition. Subject to planning consent, construction could begin as early as next year, with the studio opening for business in 2017.

Our vision is to create the most modern film studio in the UK, with the scale and facilities to attract film-makers from all over the world, said Gordon Ash, director of Pentland Studios. Scotland has already shown in recent years, with productions such as World War Z, Cloud Atlas and Outlander, that it has the scenery and locations to compete on a global level. What we are missing, however, are the really large-scale studio, filming

and production facilities which would complement our locations and enable Scotland to harness much of the high-level investment which currently goes elsewhere.

The formidable team assembled by Pentland Studios includes Jeremy Pelzer, former managing director of Elstree Studios (the birthplace of blockbuster films such as Indiana Jones and the Temple of Doom and the Star Wars trilogy), Jim ODonnell, former development manager for the Warner Bros. Studio Tour London,

and John Richardson, special effects supervisor for films such as Aliens and Harry Potter and the Deathly Hallows.

Our team comprises a range of film industry, property and finance experts with many years of international experience, said Gordon. We are very confident the location at Straiton offers an unbeatable combination of scale, facilities and deliverability.

The creation of an industry-standard film studio complex on the outskirts of Edinburgh would build upon the citys popularity for location shooting. Named the worlds sixth most cinematic city by Sky Movies, Edinburgh hosted 342 productions in 2013. The citys distinctive landmarks have featured in hit films such as Chariots of Fire, Trainspotting, and Cloud Atlas. Productions shot on location elsewhere in Scotland include World War Z (Glasgow), Skyfall (Glen Etive), and Outlander (Cumbernauld).

Pentland Studios invites expressions of interest from potential investors, as well as hotel companies interested in leasing or acquiring the hotel interest.

OUR VISION IS TO CREATE THE MOST MODERN FILM STUDIO IN THE UK, WITH THE SCALE AND FACILITIES TO ATTRACT FILM-MAKERS FROM ALL OVER THE WORLD.

Ambitious plans have been revealed for a national filmstudio complex on the outskirts of Edinburgh.

SCOTTISH FILM STUDIO

AUSTRALIAN COMPLIANCE AND RISK SOLUTION SOFTWARE SUPPLIER MYCARMS HAS EXPANDED INTO THE UK MARKET WITH A NEW OFFICE IN EDINBURGH.

Image courtesy of Keppie Design

[email protected]

CANADIAN YOGA SPORTSWEAR COMPANY LULULEMON ATHLETICA HAS LAUNCHED A NEW SHOWROOM ON CASTLE STREET.

REGISTERS LANEWork is underway on a project to transform little-used backstreets into a vibrant new district in the heart of Edinburgh city centre.

The Registers Lane project is a collaboration between the City of Edinburgh Council, the Scottish Government, the Royal Bank of Scotland,

A new collective aims to put Edinburgh on the map as a global centre of excellence for technology.

StartEDIN has been created by tech companies in Edinburgh to champion the citys thriving and vibrant tech community on an international stage. It will bring together all those involved in the flourishing ecosystem and, with the weight and investment of its membership, drive the promotion and growth of this vibrant sector.

Edinburgh needs to create a brand that as a community we can all get behind and help promote what is

simply a fantastic place to live, work and develop your business potential, said James Varga chief executive of miiCard and a founding partner of StartEDIN. Edinburgh is one of the best start-up locations, with strong research, serious investment, cultural heritage, and a fantastic lifestyle with an open environment on your doorstep.

Edinburgh combines a buoyant economy with enviable quality of life. fDi Magazine has named Edinburgh the best mid-size city in Europe for foreign direct investment, while the Office for National Statistics recently

named Edinburgh the happiest city in the UK. The city boasts a wealth of resources, including world-leading research, a strong local investment network and a vibrant assortment of start-ups.

But we need to get recognition for all this, added Varga, and importantly we need to be better at attracting top tech skills to ensure the growth and development of this dynamic community.

> Find out more: www.startedin.co.uk

TIAA Henderson Real Estate and the Chris Stewart Group that aims to unlock the potential of the block of buildings bounded by Princes Street, Multrees Walk, St Andrew Square and James Craig Walk. Despite occupying a strategic location in the heart of Edinburgh, this area of the city is characterised by dead ends, unappealing frontages and inaccessible private gardens, with limited footfall as a result.

The project aims to unlock the potential of this area through the creation of new active frontages and civic spaces. The refurbishment of vacant and underused buildings will deliver significant new

leisure space, while the redevelopment of a former bank at 42 St Andrew Square and a neighbouring property on West Register Street will deliver new prime office space, along with leisure and hospitality uses. A distinctive lighting scheme will help shape a bold new identity for the area.

It is anticipated that construction work on the Registers Lane project could begin next year for completion in 2019, complementing the adjacent Edinburgh St James development.

> Find out more: e: [email protected]

PUTTING EDINBURGHS TECH SCENE ON THE MAP


WHAT DO THEY DO?Mallzee is the developer of a clothes shopping app for iOS and Android devices that lets users search over two million products from over 200 participating fashion brands, including ASOS, Mango and Urban Outfitters. The free app uses algorithms to determine the fashion tastes of each user, allowing it to create personalised style feeds of relevant products and alert users of discounts and deals on products they might be interested in. Users can also use the app to share potential purchases with friends for their feedback.

In addition to earning a small sales commission on every purchase made via the app, Mallzee also offers in-app advertising and data analytics.

WHERE HAVE THEY COME FROM?

Mallzee was founded in 2012 by Cally Russell, a marketing executive and entrepreneur. After developing his idea for a personal

shopping app, Cally joined the Entrepreneurial Spark business accelerator programme. The app was launched in September 2013 during London Fashion Week, with a second version released this August. Mallzee now employs eight people and has moved to Silicon Walk, a start-up hub in Edinburghs east end.

WHY ARE THEY WORTH WATCHING?Mallzee has won multiple accolades, including a Shell LiveWIRE Grand Ideas Award in 2012 and being named one of the UKs top 10 mobile businesses in the 2013 Smarta 100 awards.

The firm currently aims to reach 500,000 app users by early 2015, with plans to attract more male users by including a greater selection of menswear. Mallzee plans to release a dedicated version for the US market, which represents around one-third of users.

Mallzee raised 192,000 of growth capital in 2013 and a further 500,000 last April, with plans to double its workforce. The firm is now preparing for a Series A funding round in 2015.

> Find out more: www.mallzee.com

1 TO WATCH MALLZEE

The Edinburgh Festival Fringe has recorded over two million ticket sales for the first time in history, with a 12% rise in attendance on 2013.

The 292m Borders Railway is to open in September 2015. The 48 km route will link Edinburgh to the Scottish Borders.

The University of Edinburgh Business School has secured ACSB accreditation, placing it in the top 1% ranked business schools worldwide.

Edinburgh will host the sixth Commonwealth Taekwondo Championships on 15 and 16 November 2014. Around 500 competitors from around the Commonwealth are expected to take part.

Four Edinburgh eateries The Kitchin, Restaurant Martin Wishart, Castle Terrace, and Number One have received Michelin Stars in the 2014 Michelin Guide.

Work is to begin on the construction of the new Portobello High School. The 41m development is expected to be ready in time for the 2016/17 school year.

Barratt Homes has announced plans to deliver 406 new residential units in the southeast of Edinburgh.

Edinburgh Waverley railway station has recorded its busiest ever month, with just under six million passengers using the station in August.

Catalyst Capital has begun a 3m refurbishment of the Princes Mall and has announced new lettings to Sainsburys and the Post Office.

Network Rail is to invest 25m in lengthening two platforms at Edinburgh Waverley, enabling the station to cope with the up to 312m long Class 800 trains set to run on the East Coast Main Line from 2018.

Airline easyJet has announced plans to offer flights between Edinburgh and London for less than 100.

Etihad Airways is launching new daily flights between Edinburgh and Abu Dhabi in June 2015, with the journey taking around seven and a half hours.

Scotland has been on our radar for some time, said James Hogan, president of Etihad Airways. We are delighted that the first direct connection between its capital, Edinburgh, and the capital of the UAE, Abu Dhabi, will be operational from next year.

The two cities share strong tourism links and the UAE is Scotlands primary trade partner in the Gulf region, which will fuel strong demand among business and leisure travellers on our non-stop service.

Named the Middle Easts best airline in the 2014 World Travel Awards, Etihad Airways serves over 100 airports worldwide. The new route will offer connections to destinations in East Asia, Australasia and the Gulf region.

With direct flights to over 100 destinations from Abu Dhabi, Etihad Airways increases our global connectivity, ensuring Edinburgh Airport truly is where Scotland meets the world, said Gordon Dewar, chief executive of Edinburgh Airport.

The announcement follows the launch of Qatar Airways flights to Doha in May of this year, which run five times per week.

> Find out more: www.edinburghairport.com

NEW ABU DHABI LINK

MADE in EDINBURGH

Angel Di Maria has just achieved pole position for his transfer fee to Manchester United: a cool 59.7m, pushing the squads combined value to 401.2m. With players worth such large sums, their fitness is crucial to the financial health of their clubs. In the English Premier League alone, the cost of wages paid to injured players was in excess of 100m during the 2013-14 season.

Now, a team of researchers from Heriot-Watt University is piloting software that can accurately forecast when star sportspeople are at an elevated risk of injury. Called indicio, the injury analytics software takes data that many athletes already record daily such as body composition, exercise

LATEST LUXURY HOTEL DROPS ANCHORThe latest boutique hotel announced for Edinburgh will open in an unlikely location the Port of Leith on the River Forth.

Uniquely, it is to be a floating hotel or boatel operated by the Royal Yacht Britannia Trust. The RYB Trust has purchased the 73-metre long MV Windsor Castle and is to convert her into a luxury hotel with 25 bedrooms. The ship has been moved to the Port of Leith, where she will undergo a 1m transformation before opening to visitors in spring 2016.

Launched in August 1963 under the name MV Fingal, MV Windsor Castle was the final ship to be manufactured by the Blythswood Shipbuilding Company on the River Clyde. She was used by the Northern Lighthouse Board to maintain buoys and navigational aids, spending 30 years working out of Oban and six out of Orkney. Retired in 2000 and renamed MV Windsor Castle, the ship was laid up in Falmouth until being purchased by RYB Trust.

chief executive, said: After many years of searching for the right ship, we are delighted that we have been able to acquire this iconic vessel and look forward to opening Scotlands first boatique hotel.

> Find out more: www.royalyachtbritannia.co.uk

THE GREATEST CAUSE OF INJURY IS NOT THE INTENSITY BUT THE DURATION OF EXERCISE, THEREFORE THE DATA WILL BE ABLE TO INDICATE WHEN A LOWER VOLUME OF TRAINING MAY BE MORE SUITABLE.

Once the refit is complete, the MV Windsor Castle will be moored alongside the Royal Yacht Britannia, which was named the UKs best tourist attraction in the latest TripAdvisor Travellers Choice Awards.

The Trusts commitment to offering a quality visitor experience will underpin the new hotel. Bob Downie, Britannias

INDICIO intensity, health issues and fatigue levels before applying a sophisticated algorithm that indicates when an athlete needs to ease off their full training programme to reduce the likelihood of injury.

The greatest cause of injury is not the intensity but the duration of exercise, therefore the data will be able to indicate when a lower volume of training may be more suitable, said Neil Gibson, one of the sports scientists working on indicio.

Athletes already record lots of data, but it tends to be quite fragmented which makes it difficult to analyse to make training decisions. Indicio collates all the data in one place so at risk players can be easily identified during training. In this way, indicio allows clubs to take measures to protect their most valuable players to ensure they remain available for selection throughout the entire season.

Neil, fellow sports scientist David Sykes, and Professor David Corne in Heriot-Watt Universitys Department of Computer Science have jointly led the project, and are now working with Ian Hope, an entrepreneur in the sports software sector. They expect to release the first commercial version of the software later this year via spin-out High Performance Sport Innovation.

The first version of indicio is tailored specifically for association football and Heart of Midlothian Football Club is piloting the software. However, the underlying technology is applicable to any sport. With the new 30m National Performance Centre for Sport due to open on Heriot-Watt Universitys Riccarton campus in 2016, the software could be adopted by numerous national teams and sportspeople.

> Find out more: www.sportinnovation.co.uk

AMERICAN HEALTHCARE PRODUCTS AND SERVICES PROVIDER HENRY SCHEIN HAS OPENED AN OFFICE IN ORCHARD BRAE HOUSE.6 INVEST EDINBURGH | OCTOBER TO DECEMBER 2014 |

NEWARRIVALSZOMATO

Researchers in Edinburgh have succeeded in growing a complex, fully functional organ from scratch in a living animal for the first time. The breakthrough is a major milestone towards growing replacement organs for humans in the lab.

Scientists at the MRC Centre for Regenerative Medicine at the University of Edinburgh took fibroblasts specialised cells from a mouse embryo and converted them into thymus cells using a technique called reprogramming. When mixed with other thymus cells and transplanted into mice, these cells formed a replacement organ with the same structure and function as a healthy native adult thymus.

Growing replacement parts for damaged tissue could remove the need to transplant whole organs from one person to another, said Dr Rob Buckle, head of regenerative medicine at the MRC. This research is an exciting early step towards that goal, and a convincing demonstration of the potential power of direct reprogramming technology.

The MRC Centre for Regenerative Medicine is a world-leading research centre studying

FIRSTS FOR LIFE SCIENCE RESEARCHERS

WHO IS MOVING TO EDINBURGH?Digital restaurant guide Zomato has expanded its UK presence by opening an office in Edinburgh. The company plans to invest a further 600,000 in expanding its operations in Scotland, creating up to 30 new jobs in Edinburgh and Glasgow in the coming year.

WHAT DO THEY DO?Founded in New Delhi in 2008 by a pair of Indian Institute of Technology graduates, Zomato is now the worlds fastest-growing online restaurant guide. Its continually-updated directory now covers over a quarter-of-a-million restaurants and cafs across cities in 15 countries, including London, Mumbai, Rio de Janeiro, and Edinburgh. Zomatos website receives 23 million hits every month, while its app which lets users find new places to eat in their city, browse menus, share photos, and read and post reviews has been downloaded over five million times.

Recent deals struck with OpenTable, Bookatable and ResDiary mean UK users can now also make reservations.

WHY HAVE THEY CHOSEN EDINBURGH?Zomato first entered the UK market in January 2013, and expanded its guide to include Edinburgh last November. The firm settled on the city for its first office outside of London after deciding that its numerous independent eateries and food-loving, tech-savvy population meant there was a strong latent demand for Zomatos product.

Edinburgh and Glasgow were the obvious choices for expansion in the UK after London, because there is such a diverse and independent food culture here, said Tony Marsden, the head of Zomato for Scotland. The abundance of local talent has helped us ramp up the team on-ground in a relatively short time span with the right skills, knowledge and attitude. Weve also found the Scottish food and drink

stem cells, disease and tissue repair to advance human health.

Its research focuses on developing new treatments for diseases such as cancer, diabetes, heart disease, liver failure, and degenerative diseases such as multiple sclerosis and Parkinsons disease.

In another world first, researchers from The Roslin Institute at the University of Edinburgh and Edinburgh Genomics have teamed up with the porcine biotechnology firm Genus PIC to carry out the first exome sequencing in pigs.

industry incredibly welcoming, from restaurants to well-informed consumers, and we look forward to building on this exciting start.

> Find out more: www.zomato.com

Exome sequencing is already used in humans to diagnose genetic disorders resulting from the mutations of individual genes, and this can now be applied to pigs.

Professor David Hume, director of The Roslin Institute and a co-author of the study said: We see many applications of this platform in biomedical research as well as more applied applications in animal breeding.

> Find out more: www.crm.ed.ac.uk www.roslin.ac.uk

Colin Hattersley Photography

IE> As the new managing director of Avaloq Innovation and a newcomer to the city, what have been your impressions so far?CZ> I must say the weather has been far better than everyone led me to believe. It has given me the opportunity to enjoy the citys parks and has made walking to the office an even more pleasurable undertaking I really love not having to drive in the morning. And of course, August has been exceptional, with the Tattoo, the shows and general atmosphere at the Festival Fringe, and the concerts at the Edinburgh International Festival.

IE> How do you see Edinburghs position as a technology hub?CZ> Edinburgh features a renowned technical university (the University of Edinburgh) and a well-connected airport

Chris ZwickerManaging director, Avaloq Innovation

Avaloq offers financialservices companies integrated, comprehensive banking solutions

close to the city centre. With more tech companies setting up in Edinburgh, talented people can find enough room to develop and are less likely to move abroad, which helps retain well-trained graduates in the city.

Theres a twist though: right now, the location is so attractive that universities are hard-pressed to keep up with the speed with which companies are investing.

IE> What is driving the innovation ecosystem for financial services products?CZ> To start with, customers are very mobile today and much more prepared to switch between service providers. This leads to a stronger emphasis on customer experience, which naturally drives innovation. Even stronger pressure comes from regulation: financial services companies have to deal with changing and ever more challenging regulations, which forces them to constantly adapt their offers and find ways to keep their margins from dwindling.

A key driver is cutting costs in areas that dont offer differentiation and focusing investment on areas that do. A number of players are stepping in to provide standardised products and services, and the competition between these companies is helping to boost innovation in the sector.

OUR FOCUS IN EDINBURGH IS MAINLY ON TAPPING INTO THE UK LABOUR MARKET RIGHT NOW WE ARE AIMING AT MORE THAN DOUBLING OUR WORKFORCE FROM 60 TO 130 EMPLOYEES.

THE SPENCERFIELD SPIRIT COMPANY THE DISTILLER OF EDINBURGH GIN HAS UNVEILED A NEW DISTILLERY AND VISITOR CENTRE BENEATH THE RUTLAND HOTEL.8 INVEST EDINBURGH | OCTOBER TO DECEMBER 2014 |

IE> What would you say was Avaloqs USP in the marketplace?CZ> Avaloq is the only independent provider of standard software and business process outsourcing (BPO) services. This provides leverage by offering an integrated solution that includes off the shelf processes for commodity services, while providing the ability to completely customise or fine-tune key processes.

Based on the Avaloq Banking Suite, financial services companies can jointly innovate in commodity areas (benefiting from the strength of the Avaloq Community) while concentrating their individual innovation capacity in areas that serve as their main differentiators.

Avaloq goes one step further by offering standardised services that are based on the Avaloq Banking Suite running in BPO centres. This allows our customers to greatly reduce their operating costs in commodity areas.

IE> How does Avaloq benefit from having Edinburgh as a second development centre, alongside Zurich?CZ> Often the traditional benefits of co-locations are offset by the increased costs due to communication failure things just get lost in translation. The reason weve managed to successfully establish a second site is that we were rather aggressive or ambitious in shifting competencies and responsibilities. Our teams in Edinburgh are responsible for their products as much as any team based in Switzerland.

This way, while active communication is still required, many decisions can be taken locally and most training can take place within the teams. And obviously with modern methods such as video conferencing and instant messaging, communication is a lot easier and quicker.

IE> What benefits does the Edinburgh development centre bring to Avaloqs global operations?CZ> Our main challenge at Avaloq lies with what is commonly called the war

EDINBURGH FEATURES A RENOWNED TECHNICAL UNIVERSITY AND A WELL-CONNECTED AIRPORT CLOSE TO THE CITY CENTRE.

Chris Zwicker, managing directorChris Zwicker grew up in Switzerland, where he attained a masters degree in computer science at ETH Zurich. After graduation, he was conscripted into the Swiss Armed Forces, serving as a first lieutenant. Upon completing his military service, Chris joined Avaloq as a software engineer, helping to develop the core banking systems trading module. He went on to head a team responsible for securities lending and borrowing, repurchase agreements and collateral management and ultimately became the lead software architect responsible for the entire treasury domain.

In 2010, he shifted focus from banking to tooling, heading a business unit in charge of Avaloqs software lifecycle management tools. In parallel to this demanding role, Chris graduated with distinction from the executive MBA programme at INSEAD, Fontainebleau in 2013.

In June 2014 Chris relocated to Edinburgh to become managing director of Avaloq Innovation, Avaloqs Scottish development centre.

He is fluent in German, English and French.

for talent. At our headquarters in Zurich, we profit from the excellent education ETH offers. The same applies here in Edinburgh, where world class universities turn out some of the best talent available in the market. Additionally, integrating colleagues from other parts of the world is greatly facilitated by English being the native language here.

IE> How has the Edinburgh office enabled Avaloq to tap into the UK market?CZ> There are two sides to this question. In terms of selling our solution to the UK market, our Edinburgh presence has not had a significant impact because we already had a sales office in London, specifically to address customers such as Coutts, Barclays and Canaccord.

Our focus in Edinburgh is mainly on tapping into the UK labour market right now we are aiming at more than doubling our workforce from 60 to 130 employees.

IE> How do you ensure recruits are well prepared?CZ> When new recruits join us they are enrolled in a certification programme run by the Avaloq Academy. This four-week course provides in-depth knowledge of the Avaloq Banking Suite, its functionality and customisation options, and also its business application. Successfully completing our training and graduating as an Avaloq Certified Professional is a rite of passage for everyone on their way to joining teams.

In addition, we also put a lot of effort into training and knowledge transfer, both initially and ongoing. We have regular sessions such as tech talks, reading circles and a session we call Micro Content Fixes. These are weekly 15 minute opportunities to share some innovation or interesting solution with colleagues.

IE> What are the main skills you are looking for at Avaloq?CZ> Here in Edinburgh, we have three main profiles working hand-in-hand to make sure our software remains the leader in banking: software engineers, business analysts and technical authors. For all of them, we are looking for very analytical people who can successfully handle great complexity. On the soft skills side, we value people who show initiative, have a great learning capacity and demonstrate flexibility and versatility in their approach to challenges.

IE> What are your goals for Avaloq in Edinburgh over the next three years?CZ> My main goals are to establish the centre in Edinburgh as a complete equal to the Zurich centre, to put in place a leadership team that can easily deal with exceptional situations and, above all, to find the combination of people and processes that will assure such exceptional situations rarely occur.

THE HAGUENAU-BASED BAKERY PTISSERIE MAXIME IS OPENING A TRADITIONAL FRENCH PTISSERIE ON QUEENSFERRY STREET.

www.avaloq.com

www.investedinburgh.com | OCTOBER TO DECEMBER 2014 | INVEST EDINBURGH 9

WILL YOU BE NEXT TO LAND IN EDINBURGH?For 50 issues, Invest Edinburgh has been charting the strengthsand opportunities that make Edinburgh such an attractive place in which to live, work and invest.

2009Rezidor Hotel Group (Belgium)

2002Harvey Nichols (UK)

2006Bank of New York Mellon (USA)

2008Primark (Ireland)

2002Rockstar North (UK)

2004Amazon(USA)


THE TELEGRAPH MEDIA GROUP HAS OPENED A NEWS BUREAU IN CRICHTON HOUSE.

In the past year alone, inward investments have created more than 1,000 jobs in Edinburgh: and the reasons why investors choose the city are as diverse as the sectors in which they invest.

What appealed to us initially was the talent here, the specific imaging

technology and the patent portfolio, explains Dr Ken Sutherland, president of the Toshiba Medical Systems Corporation. Our close work with the universities recently extended into development of a new MSc, to target people who can combine the skill sets

we need.Toshiba bought over Edinburgh-

based Voxar in 2009. It was an imaging start-up established by graduates from the

University of Edinburgh. Our R&D centre here now employs 120 people including more than 100 researchers. We bring together the citys strengths in science and technology to combine imaging hardware with software in ways that help clinicians get what they need, rapidly.

Edinburghs rich talent pool helps explain why more than 20 foreign companies expanded into the city in the past year alone, joining Toshiba and scores of others who have arrived and thrived since the turn of the millennium.

More than 40% of those living in the city and of working age hold university degrees, and Edinburgh is a location of choice for research and development and other knowledge-intensive activities. The world-renowned University of Edinburgh ranked 17th best in the world and five other universities and colleges produce a steady flow of graduates, intellectual property and spin-out companies.

The success of Voxar in catching an investors eye has been echoed by many others: between 2000 and 2010, the University of Edinburgh alone created 244 spin-out and start-up companies, (75% more than its closest competitor in the UK, the University of Cambridge).

Situated at the heart of Scotlands world-leading life sciences industry, Edinburgh

BioQuarter offers the ideal environment for spin-out companies, entrepreneurs, start-up firms and new ventures by established pharmaceutical companies. It combines some of the best medical research in the world with two major hospitals, dedicated bio-incubator facilities and an outstanding team of business development personnel. Its world-class research capabilities have attracted companies including GSK, Galapagos, Johnson & Johnson and Eli Lily, all of which have all signed collaborative partnerships with Edinburgh BioQuarter to discover and develop new medicines.

Mlnlycke came to Edinburgh in 2012, having licensed a technology that was developed at the University of Edinburgh using funding from Scottish Enterprise, explains Russell McCraith, managing director of Mlnlycke Health Care Scotland.

We incorporated in August 2012 and opened an office here at the BioQuarter just a month later. We currently employ 11 staff, the majority are scientists, and that is

2009Rezidor Hotel Group (Belgium)

2012ProTrials Research (USA)

2012Green Investment Bank (UK)

2013Accor (France)

2012Motel One (Germany)

2009Virgin Money (UK)

2011Avaloq (Switzerland)

2011Waldorf Astoria (USA)

2012Enercon (Germany)


The city is home to > 89,000 university and college students

Including > 16,000 international students

Voted the best place to live in the UK (YouGov)

Edinburgh is recognised as the

worlds festival city

TOKYO, JAPAN-BASED FIRM NIKKO ASSET MANAGEMENT ASIAS LARGEST FUND MANAGER HAS ESTABLISHED AN OFFICE IN EDINBURGHS FOUNTAINBRIDGE DISTRICT.

double the number we envisaged at start-up. I have plans for further recruitment and theres no doubt that Edinburgh is a city with strong appeal, which helps when it comes to attracting the people with the specialist skill set we need.

The campus is a perfect hub for life science, encouraging collaboration between the hospital, the university and commercial companies. That is a very positive reason to be here.

Over the next five years, the research community at the site is set to expand further with the opening of the new Royal Hospital for Sick Children and Department of Clinical Neurosciences in 2017.

Edinburgh city region is home to the UKs second largest concentration of researchers rated internationally excellentand is ranked first in the UK for veterinary medicine, hospital-based clinical research, animal biology and clinical medicine. In fact, more than half of all Scotlands research activity is undertaken in the region, with key R&D specialisms spanning stem cell research and regenerative medicine, biotechnology, microelectronics, informatics, genomics, optoelectronics and renewable energy.

Sector developments in the latter include the wave power generator used in the worlds first commercial wave farm, the worlds first silent building-

mountable wind turbine and worlds largest operational hydroelectric wave energy convertor. These have helped attract a number of renewable energy companies to the city in recent years; among them Repower, Areva, EDP Renewables,Repsol and Enercon. Edinburgh is already recognised as a hub in the renewables industry, with a number of major international clients and project developers already based here, says William ODonnell, sales manager of Enercon UK. After two years of rapid growth, our original office space in Edinburgh has already more than doubled in size, to cover sales, project management, electrical engineering, grid integration, legal and administrative departments.

Other blue-chip companies with established R&D centres in Edinburgh include Amazon (e-commerce software), Aviagen (poultry genetics), Renishaw (metrology), Selex Galileo (avionics) and STMicroelectronics (semiconductors).

One sector where the roots of innovation date back to the nineteenth century is financial services. The global investment trust industry owes its existence to the Scottish American Investment Trust, founded here in 1873. Today, Edinburghs fund managers look after more than 500bn in assets.

The sector is extremely diverse and the city has critical mass in banking, life insurance and pensions, asset servicing and fund management. This has attracted a large number of foreign-owned companies in recent years, including BlackRock, Deutsche Bank, Socit Gnrale, Esprito Santo Investment Bank, Handelsbanken, and Triodos Bank.

Another investor has been Avaloq, which offers integrated banking software solutions (see p8). Theres no doubt the city appeals to and attracts many talented people, says Christoph Zwicker, newly appointed head of Avaloq Innovation. Initially, some come to study, but are then keen to stay. We are aiming to double our staff numbers here in the next year.

A key part of the appeal for companies across every sector is Edinburghs connectivity to key global markets. The citys airport now offers direct flights to 130 destinations, including the international hubs of London, Amsterdam, New York, Istanbul and Dubai. Last year, the airport handled more than nine million passengers and over 10,000 tonnes of cargo.

The citys excellent transport links have benefited from significant investment recently: the tram network opened in 2014, connecting the airport to the city centre, where Waverley Station and the Haymarket

SEVEN SCIENCE PARKS LIE WITHIN 30 MINUTES OF EDINBURGHS CITY CENTRE, HOUSING MORE THAN 3,000 WORLD-CLASS RESEARCHERS AND OVER 100 MARKET-LEADING COMPANIES INCLUDING I2EYE DIAGNOSTICS, XILINX, INDIGOVISION AND HELICA INSTRUMENTS.


WILLIAM S. JORDAN, FOUNDER, PRESIDENT AND CTO, BROWN PAPER TICKETS

When Brown Paper Tickets was ready for global expansion, my business partner and I considered several locations, but we felt most at home in Edinburgh. Like Seattle, Edinburgh is locally-minded, eco-friendly, and embraces the arts and live events.

We knew that our free state-of-the-art technology for online ticketing would resonate with the local community.

Since expanding to Edinburgh, Brown Paper Tickets has increased sales by 800% and has been ranked as one of the top 10 primary ticketing companies on the planet, with events in 65 countries.

We didnt just stumble upon Edinburgh; UK Trade & Investment (UKTI) approached us and provided lawyers, accountants, real estate pros, dossiers on the region and recommendations on where a UK business hub might be most successful. They put Edinburgh on our radar. Years later, we retain the same lawyer and accountant, and are now seeking a higher-visibility location in the city.

It was ranked the happiest city in the UK

in 2013 (ONS)

Four Edinburgh restaurants received Michelin stars

this year.

Free advisory and support services are available for companies seeking premises within Edinburgh. Contact the Investor Support team for more information.

t: +44 (0)131 529 6600e: [email protected] w: www.investinedinburgh.com

Interchange (both served by the tram) have benefited from multi-million pound overhauls. From Waverley, London can be reached in a little over four hours.

This connectivity is also attractive to the millions of visitors welcomed to the city each year. Emerging markets such as China are becoming increasingly prominent in the mix, while the rest of the UK, Germany and the United States remain the biggest markets. Demand is such that 900 new hotel rooms are needed each year until at least 2021 and recent arrivals such as Residence Inn by Marriott at Quartermile join the likes of Hilton, Waldorf Astoria and Sheraton.

Business tourism, not least academic and medical conventions, also represents a significant element of Edinburghs tourism offering. The city has retained its position as the most popular destination after London for hosting international association meetings for the past seven years; and the economic value of business tourism is estimated to be 300m per annum.

What attracts visitors is equally compelling when it comes to recruiting and retaining key staff: the rich and varied cultural life, the citys green spaces and classical architecture, key museums, wonderful eateries and an outstanding quality of life. (In 2014, the Edinburgh

Festival Fringe the worlds largest cultural festival sold 2.2 million tickets: up 12% on the previous year.)

Momentum continues, with companies attracted by Edinburghs talented workforce and competitive cost base. There is no doubt Edinburgh has a strong appeal, explains David Stewart, fund manager of Standard Life Investments Pooled Property Fund, which is investing more than 75m with Peveril Securities in a mixed use speculative development in St Andrew Square. The economic mood is changing and the city is seeing an uplift in business confidence. The citys tourism sector is booming and current Grade A office space in the city centre is being taken up. I believe we are creating a first class long-term investment for our investors.

Other projects, such as the redevelopment of the Edinburgh St James, the arrival of an Apple store on Princes Street and the major developments underway at St Andrew Square, are all creating an exciting new phase for the city centre. Meanwhile, the largest speculative office investment in the history of Edinburgh has recently begun at Quartermile.

These developments, all landing together at one time, will help ensure the citys continued appeal as a centre of innovation, learning and culture. Its your move next


THE N BROWN GROUP IS OPENING A DUAL FASCIA STORE FOR ITS JACAMO AND SIMPLY BE BRANDS AT THE FORT KINNAIRD RETAIL PARK.

Since 2000, Edinburgh has attracted more than 100 overseascompanies to the city. What lies behind its appeal?

ROUND TABLE:Ali MacLeod, Director of Fundraising, Mercy CorpsOur European headquarters employs 35 staff

who directly support our humanitarian work in 34 of the 42 countries in which Mercy Corps is currently active. The city is a fantastic draw, which helps with both staff retention and recruitment. We enjoy good connectivity with funders in the Scottish Government, the UK Government and Brussels.

Mercy Corps merged with the Edinburgh charity Scottish European Aid in 1996, and we have always enjoyed excellent links with the city, acting as an official partner for emergency relief.

We also have many long-standing supporters among Edinburghs companies, such as Artemis Fund Managers, who organise the Quadrathalon at Loch Tay as an annual fundraiser for Mercy Corps.

Our work is rewarding, but often stressful, and the city provides a perfect location, with its open green spaces, access to the countryside and full cultural life. It provides balance and a great quality of life.

Peter Muller-McDougall, Honorary Consul General, Consulate General of SwitzerlandOnce the decision is made to locate

in Edinburgh, I am able to help Swiss companies. I helped Avaloq and Edelweiss with introductions and advice to make their expansions here successful. The Economic Development service at the City of Edinburgh Council is very helpful and we have an excellent relationship.

The Edelweiss route from Edinburgh to Zurich has been very successful: of the top 500 companies in Switzerland by turnover, 126 are based in the Canton of Zurich. This has also helped build tourism numbers by 20% in the last three years.

There are 26 Swiss companies now operating in Scotland, employing more than 2,000 people. Eight are based in Edinburgh itself. Whether it is an international business such as Avaloq, or a smaller Swiss business, such as one bakery currently looking to open in Scotland, I look for a win-win that helps the Scottish economy and the Swiss business.

Paul Curran, Managing Director, QuartermileEdinburgh has top universities and leading companies but currently there is

a shortage of new Grade A office space. Were about to embark on one of the largest speculative office funding deals to have ever been undertaken in Scotland, with an 80m funding deal to develop the two remaining office buildings in our overall plan for Quartermile, a multi-use development on the site of the old Edinburgh Royal Infirmary (see back cover). Commercial tenants already on-site include Skyscanner, Mercer, Investec and an IBM start-up.

Work on the new seven-storey Quartermile 4 building began in July. It will comprise 12,100m2 of office space and 1,200m2 of retail space, ready for 2016. Development of a six-storey Quartermile 3 building will then follow.

The level of investment is testimony to the sites continued momentum. This development integrates eighteenth century buildings with new-build additions and, upon completion in 2018, there will be 900 apartments, 30,000m2 of office accommodation and 10,000m2 of retail and leisure space.

The City of Edinburgh Council engages with developers, and were now looking for other opportunities in the city.

Mark Logan, Chief Operating Officer, Skyscanner At Skyscanner we have seen a significant change in the tech sector over

the past ten years in terms of the engineering talent within Edinburgh. We are fortunate to be located near to one of the best computer science departments in the world, but weve also seen other tech businesses establish offices here, which means theres a vibrant tech start-up scene.

At Skyscanner we have over 35 different nationalities working within our offices, and many of these people have relocated to Edinburgh to join the team. We find that its a combination of the opportunity to work on intellectually challenging problems on a global basis which is attractive, as well as the prospect of living in Edinburgh, a multi-cultural and vibrant city.

Gordon Drummond, Director, Harvey NicholsEdinburgh is a highly walkable city. It manages to pack in compact areas of

niche retailers, which appeal to a diversity of customers. The unique nature of many of the independent shops provides an attractiveness seldom seen in any capital citys high street or shopping malls.

The backdrop of Edinburgh Castle, the proximity of museums and galleries, the myriad of restaurants and coffee shops together with excellent transport links prove a great environment for shopping.

With the second highest average earnings per resident in the UK and with a healthy tourism market, retailers are well placed to take advantage of a year-round economy. Almost four million visitors attend the festivals in the city providing a large boost to retail spend.

Properties with character are plentiful in Edinburgh and necessitate challenging shop-fitting concepts and innovative designs. This produces diversity in the offering and marks Edinburgh as an attractive, interesting and unique proposition for retailers.

THE CITY IS A FANTASTIC DRAW, WHICH HELPS WITH BOTH STAFF RETENTION AND RECRUITMENT.


Consul General Xinchun Pan, Chinese Consulate in Scotland IE> The appeal of Tian Tian and Yang Guang has been phenomenal since they arrived in

Edinburgh in 2011. Their gift from the Chinese government reflected official recognition of the contribution made by Edinburgh Zoo in supporting giant panda conservation, its work with the Wolong Panda Breeding Centre, and the closer ties existing between the two countries at government level. How are these ties evolving?

CGP> During the last three years, Tian Tian and Yang Guang have become local superstars. In 2011, Scotland and China signed a joint agreement on panda research, which sets out a 10-year plan looking at how captive-bred pandas can survive in the wild. This is a growing and very successful science project and an important magnet for cooperation between China and Scotland on education, business and culture. It is helping increase understanding between both countries.

I have visited Edinburgh Zoo three times and have been glad to witness the cosy and happy life that the pandas enjoy here. On one visit, I attended a Panda Day organised by the Scottish China Education Centre and witnessed primary school pupils learning more about China and its culture through the pandas. The relationship between Scotland and China strengthens and matures and the pandas are good ambassadors to enhance our friendship.

IE> How important are knowledge exchange and collaboration to the ties between China and Edinburgh specifically?

CGP> Historically China and Scotland have both been great contributors to civilisation and human progress. China was the source for the four great historic discoveries of the east: paper-making, the compass, gunpowder and mobile printing. Scotland is the home of television, the steam engine, telephone and tyres: inventions that helped push forward the wheel of industrialisation. These strengths in innovation are a solid base for future mutual exchange.

As the worlds second largest economy, China has an open door policy and Edinburgh is one of the most attractive places for Chinese companies. I have strong faith that close collaboration on both sides will create a better future for all.

IE> Edinburgh has close ties with a number of cities in China. How have networks between the city and China evolved since the Scottish Government published its China Strategy in 2012?

CGP> As Scotlands capital and most significant city, Edinburgh is at the forefront of the Chinese governments strategy. Next year we celebrate the 30th anniversary of the relationship established between Xian and Edinburgh.

In 2011, the Chinese and Scottish governments signed a memorandum of understanding (MoU) on culture, and the strength of exchanges has accelerated since the launch of the Scottish Governments China Strategy. Let me give some recent examples: Beijing Peoples Art Theatre were warmly welcomed to the city in 2013, with their production of Coriolanus at the Edinburgh International Festival; Lanterns of Terracotta Warriors, which were first created for the Beijing Olympics in 2008, were exhibited in the city in February, to celebrate Chinese New Year; and in 2014, Ming Golden Empire has told the extraordinary story of the Ming Dynasty at the National Museum of Scotland.

Since I moved to the city in March 2013, 10 artistic groups from China have performed here; all warmly welcomed.

The MoU between Shenzhen and Edinburgh is focused on the creative industries. It will see incubation centres established in both cities by 2016 and provides new opportunities for creative businesses in both countries.

A high level delegation from China visited Edinburgh in 2014 and a return trip is planned for 2015.

IE> Edinburgh, uniquely, is now home to two Confucius Institutes. What makes the educational ties between Scotland and China so strong?

CGP> The relationship is based on friendship and supported through cultural and educational links and visits that enhance understanding.

There are now five Confucius Institutes in Scotland and these lead educational ties with China. I tell my Scottish friends

that bilateral relations are the best they have ever been and culture and education are at the core of that relationship.

In 2008, Fiona Hyslop, then Education Secretary in the Scottish Government, paid a visit to China and signed a memorandum of understanding on education. Bilateral links have been consistently strengthened since then and the Confucius Institutes advance that understanding: Scottish pupils and teachers can learn about Chinese music, history and culture. I attended the opening of the Confucius Institute at Heriot-Watt University, focused on cultural understanding for business, and was amazed and touched by the enthusiasm for the project and the devotion of those involved towards the Chinese language and culture.

In China today, there are now 300 million people who speak English (or are learning) and children begin to learn English in kindergarten. I am convinced we will strengthen ties that benefit all and enhance mutual understanding and friendship and ultimately global harmony.

IE> Visits to Edinburgh by Chinese nationals have risen from 5,000 in 2010 to 23,000 in 2013. Why is Edinburgh proving popular with people from China?

CGP> A good question! When I was appointed to my post, my friends all congratulated me. They believed Edinburgh would bring me joy.

Our ties have been growing for more than a decade. High-level visitors include former President Hu Jintao, in 2005, and Premier Li Keqiang (then vice-premier) in 2011, while First Minister Alex Salmond has visited China four times. These high-level visits strengthen and enhance relations.

The visits made by Chinese artists to Edinburghs festivals are well publicised in China, as is the spotlight placed on the pandas as envoys of friendship. I am sure the number of visitors will climb in future. The Chinese are fascinated by Scotlands history and heritage. You will find more and more Mandarin speakers at the Old Course in St. Andrews or Edinburgh Castle.

AS SCOTLANDS CAPITAL AND MOST SIGNIFICANT CITY, EDINBURGH IS AT THE FOREFRONT OF THE CHINESE GOVERNMENTS STRATEGY.

THE RELATIONSHIP BETWEEN SCOTLAND AND CHINA STRENGTHENS AND MATURES.

business hours, while vacant units have been animated with artwork by local artists.

Major developments across the city are delivering attractive new public spaces. Work commenced earlier this year on the

150m New Waverley development in Edinburghs Old Town by Artisan, which will be centred on a civic square with a viewing platform, creating an oasis away from the bustle of the Royal Mile and letting residents and visitors enjoy northward views to Calton Hill. Meanwhile, TH Real Estates 850m regeneration of Edinburgh St James will deliver new public spaces, open up currently little used lanes and create a new active frontage on to Leith Walk. Ongoing investment in the city by the University of Edinburgh has transformed Sugarhouse Close via a 300 bed student housing development, while Bristo Square is to be revamped to complement a restoration of McEwan Hall, the universitys historical graduation hall.

In spring of this year, the Edinburgh and Lothians Greenspace Trust planted an incredible 3,500 new trees along paths in the north of Edinburgh. The trees have been carefully selected to provide shade

without obscuring sunlight or sightlines. Meanwhile, the Royal Botanic Garden has begun planting rare trees in over 100 public parks across Edinburgh, beginning with Serbian spruce trees in Princes Street Gardens last December. In addition to letting members of the public experience rare trees from around the world, the project will help preserve numerous endangered tree species. The citys natural beauty was recognised in August 2014 when Edinburgh was chosen to represent the UK in Entente Floral, a pan-European contest recognising the towns and villages where horticulture makes the biggest contribution to quality of life.

Finally, following a successful pilot, the Council is to invest up to 30m in overhauling the citys streetlights with LED lamps. In addition to lasting much longer and using less energy, the LED lamps will produce a white light that is considerably clearer and brighter than the yellow light produced by traditional sodium lamps.

Investments such as these will ensure Edinburgh continues to deliver a top quality experience for residents and visitors alike.

A series of improvements have been delivered to George Street, Edinburghs premiere destination for upmarket shopping and recreation. Traffic has been restricted to one side of the street, unlocking new public space that will provide a venue for outdoor art exhibitions and alfresco dining. Cyclists will benefit from a new cycle lane linked to the National Cycle Network. The squares at either end of George Street are also to be upgraded, with public realm enhancements for both St Andrew Square and Charlotte Square.

In the Old Town, work is underway to widen pavements on Market Street and Waverley Bridge, complementing improvements at Edinburgh Waverley rail station and the Princes Mall. Meanwhile, Leith Walk and Constitution Street are benefiting from the widening and resurfacing of pavements and the addition of more greenery and public art. Shutters have been decorated with art to create a more welcoming environment outside of

SWEETENING THE ENVIRONMENT

MAJOR DEVELOPMENTS... ARE DELIVERING ATTRACTIVE NEW PUBLIC SPACES.

A number of ambitiousprojects underway inEdinburgh are improving the attractiveness andvibrancy of the citys streetsand public spaces.

FASHION AND HOMEWARE RETAILER MATALAN HAS OPENED A 2,600M2 OUTLET AT THE STRAITON MAINS RETAIL PARK.

The reimagined Sugarhouse Close in Edinburghs Old Town.

e: [email protected]


Edinburgh is an ideal location for the exhibition as the city has a thriving and dynamic gaming scene.

There are many successful global games companies headquartered in the city, among them Rockstar North, makers of Grand Theft Auto V, which has sold over 34 million copies. Other firms based in the city include FanDuel, the fantasy sports developer and Tigerface, a childrens educational games developer. There are also numerous small developers in Edinburgh such as Nevistech and Ingot Games, both of which produce a range of extremely popular mobile games.

The exhibition features over 125 playable games to celebrate the work of the worlds most innovative and influential videogame designers, including Peter Molyneux (Populous), Warren Spector (Deus Ex) and Tim Schafer (Monkey Island).

Were delighted to be the only European venue for this major exhibition, which promises to be both hugely entertaining, as well as giving context to the evolution of the design and creativity behind some of the worlds favourite games, said Cherie McNair, head of exhibitions and design at National Museums Scotland.

The exhibition showcases the work of over 30 videogame designers, working across arcades, consoles, PC and mobile platforms, from Nintendos iconic character-led worlds featuring Mario and Link, to the deeply immersive stealth combat of Hideo Kojimas Metal Gear Solid and the atmospheric, emotional narratives of Flower and Journey by thatgamecompany. Other designers featured include Yuji Naka (Sonic), Tomohiro Nishikado (Space Invaders), Ed Logg (Asteroids), and Toru Iwatani (Pac-Man). The role played by smaller indie developers is also explored, with sections dedicated to Halfbrick (Fruit Ninja), Markus Persson (Minecraft), Rovio (Angry Birds) and others.

Featuring rare concept artwork, revealing interviews and large-scale interactive displays, Game Masters showcases the radically varied approach each of these designers brings to the creation of videogames. It also offers the rare opportunity to play Yu Suzukis 1980s arcade games Hang-On and Out Run.

As well as a prolific gaming workforce, Edinburgh attracts gaming students and helps hone the next generation of games developers through the Games

Training Lab at Edinburgh Napier Universitys School of Computing. The Game Technology Group at Edinburgh Napier University carries out cutting edge research with graduate students and industry leaders in videogame technology.

Game Masters will run in the National Museum of Scotland from 5 December 2014 to 20 April 2015.

EXPLORING THE GENESIS OF GAMING

Dance Central: 2010 Harmonix Music Systems, Inc. All rights reserved.

The National Museum of Scotland, Edinburgh, will be the only European venue for Game Masters, a touring exhibition dedicated to iconic videogame designers and curated by the Australian Center for the Moving Image.


AMERICAN BURGER CHAIN FIVE GUYS IS OPENING AN OUTLET AT THE FORT KINNAIRD RETAIL PARK.

POPULATION OF EDINBURGH BY AGE BRACKET (2012)

JOBS IN EDINBURGH BY INDUSTRY (2013)

MARKET OVERVIEW

Professional, scientific and technical services (46,600)

Health and social work (45,100)

Financial services (38,000)

Wholesale and retail (36,700)

Education (27,900)

Accommodation and food services (25,400)

Administrative and support services (21,300)

Public administration and defence (17,500)

Information and communication (12,800)

Transportation and storage (10,400)

Arts, entertainment and recreation (10,000)

Construction (9,800)Manufacturing (7,200)

Other services (6,300)

Real estate (4,900) Primary industries and utilities (3,300)

100,000

80,000

60,000

40,000

20000

00-4 5-15 16-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

Age (years)

27,057

46,364

70,447

86,642

67,07263,688

50,482

36,069

24,693

10,126


KEY DATA

Indicator Number Date SourcePopulation 482,640 2012 General Register Office for Scotland

Households 224,322 2012 General Register Office for Scotland

Working age population 338,331 2012 General Register Office for Scotland

Average annual wage of workers 24,700 2012 Office for National Statistics

Average annual disposable income 24,600 2012 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 217,000 2012 Registers of Scotland

Annual airport passengers 9.2 million 2012 Civil Aviation Authority

Annual rail passengers 26.6 million 2012 Office of Rail Regulation

Annual tourist visits 3.73 million 2012 VisitScotland

Annual tourist expenditure 1.27 billion 2012 VisitScotland

STANDARD LIFE PLCStandard Life Investments the fund management arm of savings and investment giant Standard Life has bought Ignis Asset Management. The 390m acquisition increases total funds under management at the company to approximately 250bn. Standard Life Investments has also opened an office in Stockholm to help grow its business in the Nordic countries.

FIND OUT MORE: www.standardlife.com

THE MILLER GROUP LIMITEDResidential property developer the Miller Group has seen a rise in profits following a shift in focus to higher priced suburban homes. The company, which has planning consent for close to 9,000 plots, has set an annual sales target of 2,750 units. Having divested its loss-making construction division earlier this year, Miller is understood to now be contemplating an initial public offering.

FIND OUT MORE: www.miller.co.uk

HEINEKEN UK LIMITEDEuropes largest brewer, Heineken, has welcomed a rise in UK sales over the first half of 2014. The Dutch multinational which has its UK head office in Edinburgh attributed the rise in sales to the success of new premium products such as Strongbow Dark Fruit and Old Mount Cider, coupled with warm weather and the World Cup. The company has announced plans to boost levels of innovation and to invest in its production sites in Manchester and Hereford.

FIND OUT MORE: www.heineken.co.uk

EDINBURGHS TOP COMPANIES BY PRE-TAX PROFITS (2013)*

Company Sector Pre-tax profits (million)HBOS PLC Banking 2,994.0

Standard Life PLC Insurance and pensions 801.0

Scottish Widows PLC Insurance and pensions 667.0

The Miller Group Limited Property development 188.8

Tesco Personal Finance PLC Banking 152.6

Diageo Scotland Limited Distilling 109.0

Scottish Equitable PLC Insurance and pensions 96.0

Walter Scott & Partners Limited Fund management 93.1*

Wood Mackenzie Limited Consultancy 79.6*

TSB Bank PLC Banking 75.0

Sainsbury's Bank PLC Banking 55.0

BlackRock International Limited Fund management 53.9

John Menzies PLC Logistics 42.1

Scottish Water Business Stream Limited Water and sewage 38.3

Noble Grossart Holdings Limited Banking 29.9

Petroleum Experts Limited Software development 29.1

Artemis Asset Management Limited Fund management 23.2

Edinburgh Partners Limited Fund management 22.9

Skyscanner Limited Software development 22.0

Heineken UK Limited Brewing 20.2*

Scottish Widows Bank PLC Banking 17.3

Adam & Company Group Public Limited Company Banking 16.7

Forth Ports Limited Port operation 15.7*

The Glenmorangie Company Limited Distilling 15.4

Kames Capital PLC Fund management 15.2

* Year ending December 2012 Year ending February 2013

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.

In one of Edinburghs largest ever speculative office builds, the M&G Real Estate is investing 80 million in delivering two further office blocks at Quartermile, the deluxe mixed-use development in Edinburgh city centre.

Due for completion in early 2016, the 12,062m2 (129,830sq ft) Quartermile 4 will deliver grade A office space and include 1,161m2 (12,500 sq ft) of retail space. Work will then begin on Quartermile 3, which will provide a further 6,781m2 (73,000 sq ft) of grade A office space.

Just minutes away from the Exchange, Edinburghs financial district, and a short

walk from Edinburgh Waverley rail station and Princes Street.

Grade A office space now available to let.

A rich variety of shops, cafs, restaurants and leisure facilities including both national brands and independents retailers.

Existing occupiers include Skyscanner, Investec, Mercer, IBM, Morton Fraser and Maclay Murray & Spens.

A prime location adjacent to the main campus of the University of Edinburgh and The Meadows, one of Edinburghs most popular parks.

FIND OUT MORE:

Mike IrvineMontagu EvansT: +44 (0)131 229 3800E: [email protected]

Stewart TaylorCBRET: +44 (0)131 469 7666E: [email protected]

Quatermilewww.qmile.com

QUARTERMILE, EDINBURGHEDINBURGH CITY CENTREMajor new prime office development now under construction at Quartermile.

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