A NEW kind of incubator aimed at unlocking innovation within established businesses is set to launch in Scotland this autumn.
Market Gravity, the innovation and design consultancy with offices Edinburgh, London and New York, will open its first Launchpad centre in Leith in September. It will bring the public and private sectors together in collaboration to help companies, universities and other organisations expand their markets.
Market Gravity will initially employ about 20 staff at Launchpad, which will operate separately from its existing office in Edinburgh’s Morrison Street. Recruitment of experts in design and prototyping, as well as those with a commercial or consulting background, will begin soon.
The venture will cost an initial £1 million. For a fee it will host product development teams from participating companies for three to six months during the early stages of devising new products, technology and services.
With more patents per head than any other western European country, chief executive Peter Sayburn said Scotland was an ideal location for Market Gravity’s first Launchpad.
“Business innovation needs to go beyond start-ups,” Sayburn said. “There are lots of established companies in Scotland that have the capital and desire to innovate, but they are often constrained by their size, internal politics and an aversion to risk-taking.
“Launchpad aims to create an environment that lets Scotland’s talent thrive.”
Established in 2009, Market Gravity’s Scottish clients include Aegon, RBS and Scottish Gas. Projects cover fields such as electric vehicles, renewable energy and digital commerce.
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