SIX companies set up by Edinburgh University students in the spring have already
secured a bumper £500,000
of investment from sources
including Santander, Shell and Scottish Enterprise.
Software maker Feusd, advertising analysis firm Infatics and social media analysis company Social Artisan have each netted around £100,000 from Scottish Enterprise’s feasibility grants scheme.
Medical device design outfit Medicendevis brought in about £30,000 through the Royal Society of Edinburgh’s enterprise fellowship scheme, surgical simulation company Eosurgical landed about £20,000 from Spanish bank Santander’s university entrepreneurship programme, while rental property management software maker Advancetogo brought in cash from Shell’s Livewire scheme.
All six companies were launched through Edinburgh University’s “accelerator pipeline” programme, which helps postgraduate students turn their research ideas into high-growth businesses.
Grant Wheeler, head of company formation at the university, told Scotland on Sunday: “What makes this even more impressive is that these are young students – often still in their 20s – who don’t have the same track record of some of the more experienced researchers, but are still attracting cash from investors.”
The students will hope to emulate the success of companies such as software firm Speech Graphics, a previous accelerator pipeline firm that is creating jobs in Edinburgh.
Online gaming outfit Hubdub, recently renamed Fan- Duel, is one of the most high-profile companies set up by Edinburgh University students under a previous scheme and is doubling its headcount to about 45 this year as it expands in the United States.