Invest Edinburgh (April- June 2011)

INVESTEDINBURGH

QUaRTERly INVESTmENT BUllETIN fRom ScoTlaND’S capITal apRIl To jUNE 2011

voted europe’s top small city by fdi magazine

alSo INSIDE ISSUE 36 » 10 QUESTIoNS foR DR mIkE capalDI of EDINBURGH BIoQUaRTER » UNwRappING a NEw NaTIoNal mUSEUm » fINaNcE: a capITal INVESTmENT » TImE foR TEE

ENTER THE DRaGoN cHINa IGNITES oUR NEw ERa of paRTNERSHIpS

IN THIS ISSUE

for a free quarterly subscription to Invest Edinburgh, or to obtain additional copies, please contact [email protected]

Invest Edinburgh is published on behalf of The city of Edinburgh council and Destination Edinburgh marketing alliance by Resolve creative, Suite 104, 47 Timber Bush, Edinburgh EH6 6QHt. +44(0)131 555 7585

follow Invest Edinburgh on Twitter. www.twitter.com/investedinburgh

follow Invest Edinburgh on linkedIn. www.linkedin.com/companies/invest-edinburgh

6

14

18

2 invest edinburgH | apRIl To jUNE 2011 |

THE fIRST woRD

welcome to Invest Edinburgh, the quarterly investment promotion magazine for the city of Edinburgh.

In october 2010, the city of Edinburgh council identified six cities offering the greatest potential for future inward investment flows for its international investment engagement strategy. This issue’s cover feature focuses the opportunities that partnership with one of these cities – Tianjin in Northern china – will bring.

In 10 Questions we ask Dr mike capaldi, commercialisation Director at the BioQuarter, about the start-ups and university spinouts in Edinburgh’s life sciences industry (p 8), while the analysis examines the strength in breadth and depth of another key sector – financial services (p 14).

on page 6, we also take a look at Vegware, an Edinburgh start-up who have pioneered the development and manufacture of eco-friendly catering disposables and food packaging.

finally, a very warm welcome to the city Region to amazon.com, who will open the Uk’s largest fulfilment centre in Dunfermline later this year. Read more on page 7.

I hope you enjoy this issue of Invest Edinburgh. If you have any comments or queries, please do contact the editorial team at [email protected]

Tom BUcHaNaN,convenor of the Economic Development committee

SNapSHoTS

pioneering eco food packaging and a round-up of other news from across the city

10 QUESTIoNS foR...

Dr mike capaldi, Director of commercialisation at Edinburgh BioQuarter

(cover story)

ENTER THE DRaGoN

china ignites our new era of partnerships

aNalySIS

financial Services still make a capital investment

THE STaTISTIcS

The latest key indicators for the Edinburgh economy

makING IT HappEN

New development commences at prestigious Quartermile

aDDED ExTRaS

Time for tee anyone? The evolving story of golf in the city Region

4

8

10

14

16

18

19

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 [email protected] or on +44 (0)131 529 6600.

<capITalfocUS

www.investedinburgh.com | apRIl To jUNE | invest edinburgH 3

the transformation of the national museum of scotland’s victorian building, formerly known as the royal museum, promises to deliver another must-see destination for visitors to edinburgh.

funded through a combination of Heritage lottery funding, Scottish Government funding and a £12.6 million public fundraising campaign, the transformational project has created a National museum capable of meeting the expectations of a 21st century audience.

“a great capital city deserves and requires a great museum. The transformed National museum of Scotland will be a major cultural flagship for the city of Edinburgh and for Scotland, with a host of new displays, spectacular objects and public facilities. It will be a significant addition to the city’s tourism offer across the widest spectrum of audiences, from tourist visitors home and abroad to major international conferences,” said Gordon Rintoul, Director of National museums Scotland.

“we expect to welcome more than a million visitors per year, making the museum one of the most visited attractions in the country. an independent

UNwRappING a NEw NaTIoNal mUSEUm of ScoTlaND

a new look National museum of Scotland is set to re-open its

doors to the public on 29 july, following the completion of a

major £46 million redevelopment which will improve access,

dramatically increase exhibition space and enhance facilities.

furtHer information

www.nms.ac.uk

20,000+ objects on display16 new galleriesa new, flexible 800m2 exhibition spacepublic space increased by 50%

fact box: a world to explore

original vaulted ceilings beneath the Grand Gallery, a huge public area – 150m2 in size – has been created. This new entrance area now houses a fascinating display of objects, a modern restaurant and museum shop, providing street level access for visitors and greatly improving accessibility.

Escalators and glass elevators carry visitors up to all floors, starting with the museum’s majestic Grand Gallery, featuring the window on the world.

Elsewhere, the provision of a modern learning centre more than trebles the space available for educational purposes. The museum’s refurbished auditorium, seating up to 200 guests, provides the ideal space for academic presentations.

an enlarged flexible exhibition space will provide greater flexibility, allowing the National museum of Scotland to programme an even greater number of large international exhibitions.

study has shown that the National museum will generate around £39 million per year for the city’s economy after the developments are complete.”

The Grand Gallery itself has been remodelled as a flexible exhibition space, capable of hosting gala dinner events for up to 850 covers, while a first floor café overlooks proceedings and provides alternative views of the window on the world. This striking new installation comprising two 18m-high ‘walls of wonder’ containing over 800 objects ranging in size from a 1930s gyroplane to intricate chinese snuff boxes.

Building work is nearly complete and museum staff are now meeting the challenge of transporting and installing objects and displays into the new galleries. In total the entire National museum of Scotland will now show more than 20,000 objects across 36 galleries, 16 of which are new.

prior to construction work commencing in 2008, up to 1 million items previously stored beneath the museum’s Grand Gallery were carefully catalogued and relocated to the National museums collection centre, also in Edinburgh.

following engineering works to restore the

4 invest edinburgH | apRIl To jUNE |

fIBRE opTIc BRoaDBaND ExpaNSIoN

business improvement districts (bids) are enhancing business environments and improving economic growth in cities across the world – and edinburgh is no exception. the west end, grassmarket and south Queensferry have been

awarded £60k of scottish government funding to develop proposals to deliver bids for their area.

BIDs enable businesses to raise capital collectively to fund improvements within their area. These improvements are decided by what local businesses feel is required to improve their trading environment. BIDs can also negotiate member discounts to enable businesses to realise cost savings.

Businesses, shoppers and employees in the proposed BID areas will be consulted to help build a clear understanding of the perceived strengths and weaknesses of the three areas. This information will be analysed and presented back to businesses and local Steering Groups for use in developing a range of initiatives that potential BID revenues could provide. Businesses set to benefit from the BIDs will have the opportunity to vote “yes” or “no” to these proposals.

There are currently 10 BIDs in Scotland, with a further 14 in development. In 2008, Essential Edinburgh became the first BID for Scotland’s capital. The BID is centred on princes Street, George Street, Rose Street and St james centre to ensure the city centre excels as a place to work, do business, shop and a place to visit.

> further information: www.bids-scotland.com

NEw BUSINESS ImpRoVEmENT DISTRIcTS foR EDINBURGH

the roll-out of super-fast broadband across edinburgh continues to gather momentum with the announcement by bt that three further city exchanges areas are to be upgraded by autumn 2011.

The fibre optic broadband technology, which will be available on an open, wholesale basis to all companies providing broadband services, will provide enhanced connectivity for up to 24,000 homes and businesses throughout the city centre and south of Edinburgh. It’s the latest phase of an upgrade programme that began with the installation of fibre optic broadband across west Edinburgh.

Brendan Dick, Director of BT Scotland, said: “Edinburgh was one of the first locations in the Uk to benefit from BT’s super-fast broadband roll-out, with work in three exchange areas already completed. This latest investment is great news for many more local homes and businesses.”

The super-fast broadband, using fibre to the cabinet (fTTc), offers much faster download speeds of up to 40 megabits per second (mbps) – roughly twice the maximum speed of standard broadband. This could potentially rise to 60mbps, with initial upstream speeds of 10mbps. BT is also trialling fibre to the premise (fTTp) broadband services, capable of delivering download speeds of up to 100mbps in the first instance and potentially as high as 1000mbps.

Elsewhere across Scotland’s capital, work continues to upgrade existing copper broadband networks to provide next generation fast broadband speeds. BT plans to have more

than 90% of all Edinburgh residents and businesses upgraded to this 20mbps speed by spring 2011.

> further information: www.superfast-openreach.co.uk

<SNapSHoTS

bite size


wHaT Do THEy Do?Toshiba medical Visualization Systems (TmVS), part of the Toshiba medical Systems corporation – itself a global provider of diagnostic medical systems – develops advanced visualisation products and services for the medical imaging market. Its flagship product, Voxar 3D, is a market leader across the globe, with more than 26,000 licenses currently in use.

wHy aRE THEy woRTH waTcHING?In early february, TmVS announced it was to expand in Edinburgh over the next three years as it invests £15.5 million into its medical scanning business, supported by an additional research and development grant of £3 million from Scottish Enterprise. The investment will be used to build a new facility at Edinburgh’s centre for Regenerative medicine, which will develop ways of using computers to analyse medical imagery in an effort to improve disease diagnosis.

1 To waTcH ToSHIBa mEDIcal VISUalIzaTIoN SySTEmS

wHERE HaVE THEy comE fRom?founded in 1995 by graduates from The University of Edinburgh, the advanced 3D visualisation imaging business, Voxar ltd, was acquired by Barco in 2004. Toshiba medical Visualization Systems, a wholly-owned subsidiary of Toshiba medical Systems corporation, acquired the division in 2009.

wHaT DoES IT mEaN foR THE aREa?The new state-of-the-art facility will initially create 26 jobs, but as the centre expands over the next three years, up to 100 high tech jobs are expected to be created. The resulting imaging facility will become one of TmVS’ top centres globally.

> further information: www.tmvse.com

blackrock, the us investment management firm, has announced plans to create up to 250 new jobs in edinburgh. the company proposes to more than double the size of its workforce with the expansion and will employ more than 450 staff in the city by the end of 2011.

forth ports has agreed a £760 million takeover from its shareholder arcus, a private infrastructure investment fund which already owned a fifth of the company. forth owns docks in leith, Grangemouth, fife, Dundee and Tilbury near london and is Britain’s only stock market listed ports company.

the scottish chamber orchestra concert in princes street gardens is to be rebranded the virgin money fireworks concert, after the bank agreed a two-year deal worth at least £500,000. the bank has also confirmed a three-year deal to fund the fringe’s free entertainment arenas on the royal mile and the mound, worth a reputed £750,000 over three years.

The lBi/bigmouthmedia Technical Services Division has been named most Innovative Digital marketing Team at the prestigious 2010 Econsultancy Innovation awards. The Division was formed last November, when the Technical SEo team at Edinburgh-based bigmouthmedia and lBi’s algorithm Team were combined following the companies’ merger.

Hilton Hotels have invested £400,000 in refurbishing their terminal hotel at edinburgh airport, which is the fifth busiest airport in the uK in terms of passenger numbers. the new look hotel now provides an executive lounge on the ground floor, offering pop-up screens, wi-fi, mobile charging stations and laptop plug-in points.

The Edinburgh biscuit factory owned by Burton’s Biscuits has secured the major share in a £5 million capital investment programme by the firm, which will allow the company to retain manufacture of the vast majority of its products in the Uk. The investment will increase production of cadbury biscuits at the Edinburgh factory, and secures more than 600 permanent jobs.

a preferred bidder has been chosen to build the bridge and connecting roads elements of the forth replacement crossing (frc), the biggest scottish infrastructure project for a generation.

The forth crossing Bridge constructors (fcBc) consortium, comprising Dragados, Hochtief, american Bridge International and morrison construction, was chosen ahead of forthspan, the other consortium bidding for the contract, following an 18 month competitive tendering process.

fcBc’s successful bid for the design and build contract of £790 million at today’s prices, represents a significant saving on the initial estimated cost range of £0.9 to £1.2 billion.

It is intended to award the contract to fcBc in april, subject to a mandatory

standstill period, with construction starting on site soon after. The fRc project is currently on track to be delivered in 2016 and will replace the current forth Road Bridge as the main crossing for cross-forth traffic. fcBc will create hundreds of vocational and professional training places and job opportunities for the long-term unemployed.

The forth crossing act is the latest in a series of major infrastructure investments announced recently; others include the opening of the airdrie – Bathgate rail link and the upgrading of the m8 motorway linking Edinburgh and Glasgow.

> further information: www.transportscotland.gov.uk

GREEN lIGHT foRfoRTH cRoSSING plaN

made in edinburgH


pIoNEERING Eco fooD packaGINGedinburgh-based vegware is a pioneer in the development and manufacture of eco friendly catering disposables and food packaging.

“put simply, our products are all made from plants and are compostable, so they can turn back to soil in six weeks after use. our range spans tableware, napkins, hot and cold cups and takeaway packaging,” explains lucy frankel, communications manager. “we are the Uk’s first and only completely compostable food packaging firm.”

This is much more than just feeding a niche market for the eco-conscious. The EU landfill Directive is causing a revolution in Uk waste management practice. In order to vastly reduce the waste sent to landfill, charges are increasing by £8 per tonne every year – and the same trend is prevalent throughout the western economies.

“In april 2011, Uk landfill will become more expensive than commercial composting, and these charges are expected to rise annually until at least 2020,” adds lucy.

“our approach has been to look at products which are widely used, and then develop low-impact versions. we doubled our sales over the last year and are on target to do the same in 2011.”

a key success to date has been the world’s first compostable hot cup lid, and the company’s research and development programme is set to give rise to a number of new products in 2011.

Established in Scotland in 2006, Vegware now has a US trading arm based in connecticut and supplies a customer base that spans Europe. The company was officially named as one of Scotland’s most environmentally-friendly businesses, as a winner in the 2010 VIBES awards (Vision in Business for the Environment of Scotland), and is short-listed for a prestigious climate week award.

The business benefits are quantifiable and Vegware provides clients with monthly statements detailing the amount of carbon saved compared with standard packaging, the virgin material saved and the total potential landfill diversion.

“In 2010, Vegware saved over 110 tonnes

of carbon and over 100 tonnes of virgin materials. we’re proud to say we deliver the greenest packaging solution on the market.”

> further information: europe: www.vegware.com usa: www.vegware.us

cITy cElEBRaTES THE woNDERS of ScIENcEvisitors to edinburgh’s international science festival (9-22 april) can travel from outer space to the deepest depths of our oceans, join in a guinness world record attempt, experience a new hands-on chemistry exhibition and meet a real space walking astronaut – dr bonnie dunbar.

It’s the eclectic celebration of science we’ve come to expect in a city that remains synonymous with scientific endeavour across a wide spectrum of specialist fields.

The opportunity to reach out to a growing base of the general public attracts many of the city’s leading science institutes, as well as scientists of international standing, such as professor

Richard Dawkins and lord Robert winston. Edinburgh Science Triangle will

showcase a series of hands-on, exciting workshops and demos this year, while the festival also includes a packed life Sciences technical programme.

professor David Hume, Director of the Roslin Institute, is also discussing what the appetite for quality produce from a sustainable source means for animal welfare; professor Robert Hill of the medical Research council’s Human Genetics Unit is talking on evolutionary history and Bruce whitelaw, also of Roslin Institute, will reflect on life after Dolly – the world’s first cloned mammal developed in Edinburgh.

“our programme of events for adults is something we’ve deliberately wanted to strengthen,” explains frances Sutton, pR manager. with 86,000 visitors in 2010, the interest in science and its applications is growing year by year for the festival, which will celebrate its 25th anniversary in 2014.

This year, to celebrate the International year of chemistry, the Royal Botanic Garden Edinburgh will host a new exhibition packed with eye-popping chemistry experiments, explosive gadgets, drop in demonstrations and hands on workshops.

> further information: www.sciencefestival.co.uk

Developing the first ever compostable hot cup lid has been a key success.

NEwarrivals

<SNapSHoTS


wHo’S oN THE moVE?amazon.com is to relocate its fulfillment centre from Glenrothes to Dunfermline. The new centre will be amazon.com’s biggest in the Uk – approximately 93,000m2 – and is to be built on development land alongside the m90.

It will distribute a wide range of items to customers all over the world and will also provide extra capacity for an ever-increasing selection of products.

wHy THE moVE? The company’s existing fulfillment operation at Glenrothes is in a leased building, which was purchased in 2010 by fife council. amazon.com’s new centre will provide the company with the capacity and flexibility it requires for future operations.

continuing our regular feature about tHe latest companies investing in tHe capital

BURNING a BRIGHT paTHone of edinburgh’s most successful and distinctive tour operators is looking towards further organic growth in 2011, building on scotland’s enduring appeal among international visitors.

The winner of multiple tourism industry awards for its innovative and intimate service offering and sustainable business practices – most recently a Vision European Sustainable Tourism award, in march – Rabbie’s Trail Burners continue to grow year on year. Despite tough trading conditions it recently announced it will be expanding again in 2011, with new tours in the Republic of Ireland.

The Edinburgh-based business already has more than 50 employees and operates more than 25 tour buses

on daybreaks to the Highlands and longer breaks to the western Isles and Northern England.

providing a wide range of small coach tour itineraries, each limited to a maximum size of 16 visitors, the five star operator’s ethos reflects a strong commitment to responsible tourism and an authentic visitor experience.

It is the first tour operator in the world to offer a ‘satisfaction guaranteed or your money back’ promise and voluntarily signs up to a carbon tax scheme that donates £10 per tonne of carbon to Trees for life, The Scottish wildlife Trust and the Scottish National Trust.

> further information: www.rabbies.com

HISToRy comES alIVErail passengers will be able to travel from edinburgh to london in four hours from may, on a revived flying scotsman service. the service, recently confirmed by train operator east coast, will revive the famous flying scotsman brand, evoking a history that dates back to 1862.

The 5.40am express train is being introduced as part of the biggest timetable overhaul on the East coast main line in 20 years. The flying Scotsman will arrive at london king’s cross at 9.40am on weekdays, stopping only at Newcastle. later trains will take four hours and 20 minutes.

around one in five people travelling from Glasgow and Edinburgh to london currently go by train and policy makers north and south of the border are keen to increase the proportion to help cut greenhouse gas emissions.

Graham Bell, spokesman for Edinburgh chamber of commerce, welcomed the express service. “anything that reduces rail journey times between Edinburgh and london is welcome. The early start has the advantage that you don’t have to be waiting around in the airport departure lounge and you can work on the train.”

wHy EDINBURGH? amazon.com – which has also taken 1,100m2 of office space in waverley Gate, to serve as their Scottish HQ, creating around 100 new jobs – say it was a priority to secure a site that would enable it to preserve and transfer the entire skilled workforce with all its experience and amazon.com knowledge.

all permanent employees from Glenrothes will be employed at the new fulfillment site. The company received £2 million of Regional Selective assistance and £0.5 million of training grants in support of the investment, which will create 750 new jobs and up to 1,500 temporary jobs in peak periods.

work on the new centre, being funded by HSBc Specialist Investments (through its European Real Estate fund HEaREf) and developed by Graftongate, will commence immediately, with completion expected before the end of 2011.

> further information: www.graftongate.com

with one of the greatest concentrations of medical research technology in Europe to promote, Dr mike capaldi, commercialisation Director at Edinburgh BioQuarter believes Edinburgh has the potential to create a biotech hub of global significance.


IE> last year you returned to Edinburgh to take up your new post after years in the pharmaceutical industry and great success in generating life science start-up funding. what attracted you back to Scotland? mc> The scale of the opportunity. I want to make Edinburgh as strong in commercial terms as it is in terms of medical research.

IE> How strong is the region in terms of world-class medical research?mc > There’s a list of medical firsts in Edinburgh that stretches back centuries and is as strong today as it’s ever been. Everyone’s heard of Dolly the sheep, and most recently the British Heart foundation have been great at raising awareness of the work being done in Edinburgh on the zebrafish and its capacity to regenerate its heart muscle. In formal terms, studies have ranked Scotland Number 1 in the world in Stem cell sciences and regenerative medicine, and I think Edinburgh’s played a huge role in that success.

IE> what is the scale of activity at Edinburgh BioQuarter?mc> we’ll be opening the Scottish centre for Regenerative medicine in august, and the Inglis Building, which is going to house our bio-incubator for young biotech companies, a few months later. we expect to announce four new companies this year and we’ve begun forging links with large industrial concerns

to help foster collaborations between our researchers and industry.

we’d like to see another ten companies spun out over the next three years. our ambition is also to see the Inglis building filled with tenants, and more buildings going up to house our collaborations with industry.

IE> what is the special appeal of Edinburgh for life scientists?mc> The university’s great reputation for life sciences, coupled with the fact that it’s a great place to live, has a strong scientific community and a cost of living that’s 20% lower than london.

IE> you mentioned that the Scottish centre for Regenerative medicine (ScRm) will open later this year. How significant is that development? mc> The ScRm will house 260 researchers working specifically on the application of research in stem cell sciences to conditions such as diabetes, heart disease and cancer. Given the huge

strides that are being made in regenerative medicine at the moment, I can’t think of a more significant development anywhere in the Uk’s bio-pharmaceutical industry.

IE> what impact has the Queen’s medical Research Institute had?mc> The relocation of some of Edinburgh’s clinical and medical research assets to little france was a major inspiration behind the BioQuarter. The chancellor’s Building, which houses Edinburgh’s college of medicine and Veterinary medicine, opened in 2002, followed by the new 900-bed Royal Infirmary of Edinburgh and the Queen’s medical Research Institute in 2004. These facilities give us one of the greatest concentrations of medical research technology in Europe and the potential for a biotech hub of global significance.

There are plans to open a Brain and Body Institute in 2016 and also to relocate the Royal Sick children’s Hospital here in a few years’ time.

IE> Tell us a little about the first two spin-outs from BioQuarter. mc> There’s lots of innovation happening and investors should start to see some concrete delivery in the form of new companies over the next two to three years.

we’re looking to spin out two companies by the end of april 2011, one is linked to

mike capaldi

“ScoTlaND HaS a faNTaSTIc BUSINESS aNGEl commUNITy, aND IT’S a GREaT placE foR STaRT-UpS.”

<10QUESTIoNS


diagnostics, and the other will be linked to the drug discovery process.

we have a pipeline of 13 companies, the first of which we’ve delivered to market, with 12 more to follow. we also hope that our innovation competition will discover a dozen or so new ideas.

IE> what are the main challenges facing new life sciences start-ups? mc> The major difficulties are accessing investment capital and attracting the right executive management teams. The key to success is having a great idea that’s been subjected to rigorous development and

scrutiny – not just from a scientific point of view, but from a business perspective as well. we’re here to make sure that our companies meet both of those criteria.

IE> Is it easier to get financial backing for promising research here in Scotland? mc> Scotland has a fantastic business angel community, and it’s a great place for start-ups that don’t need huge levels of capitalisation. But one of the peculiarities of medical R&D is the large cash injections often required to take a product through the extensive clinical trials process. we’re actively talking with investors and the

Scottish authorities to bring a significant venture capital business to Scotland.

IE> what is your feeling on the scale and nature of collaboration between academia and industry here in Scotland?mc> Since I joined BioQuarter, just under a year ago, we’ve seen the level of collaborative effort between industry and academia improve pleasingly – and there’s no doubt that this is the direction both parties want to keep travelling in, as academia look for alternative sources of funding and the traditional R&D model in industry changes.

mike capaldi

Dr capaldi studied biological sciences at the University of East anglia followed by a phD in medical bio- physics at manchester.

after completing a post-doc at the Royal postgraduate medical School, he moved into industry where he has fulfilled a number of roles in bio-pharmaceutical companies for the last 26 years, across a range of disciplines in the Uk, Europe and the USa. He has worked in blue-chip pharma companies such as ciba Geigy (now Novartis), Smithkline Beecham (now GlaxoSmithkline) and Nycomed amersham. However, he prefers

SmEs and start-ups, having held a number of directorships in companies such as core Group plc, oxford asymmetry plc, Stealthyx, Synaptica, Scancell and Hunter-fleming plc (the latter three as cEo).

working in the bio-tech sector has meant lots of fund-raising experience, both from private and public markets: Dr capaldi has helped raise more than $60million since 1997, including an Ipo of core Group on the london Stock Exchange. He also has extensive deal-making experience, having most recently negotiated the sale of Hunter-fleming to Newron pharmaceuticals in 2008.

Edinburgh’s BioQuarter (top), situated on the south of the city, is already home to some 2,000 medical researchers, working in either the University of Edinburgh’s college of medicine and Veterinary medicine and Queen’s medical Research Institute or the new Royal Infirmary of Edinburgh.

In august, the £60 million Scottish centre for Regenerative medicine (below) will open, bringing together world leading stem cell research with established clinical excellence to deliver a “bench-to-bedside” approach aimed at developing new treatments for major diseases including cancer, heart disease, diabetes and also degenerative diseases such as multiple sclerosis, parkinson’s disease and liver failure.

furtHer information

www.edinburghbioquarter.com

cv

a HUB of GloBal SIGNIfIcaNcE


cHINa IGNITES oUR NEw ERa of paRTNERSHIpSScotland’s capital is targeting six of the world’s fastest developing city regions, as it transforms

the way it promotes its diverse cultural and technological offering to the wider world.

In 2010, the city of Edinburgh council’s Economic Development Unit announced a new investor engagement strategy, targeting six gateway regions identified

as having significant potential for generating future inward investment. These are: Tianjin, Doha, munich, mumbai, Toronto and london.

Edinburgh is forging strong and productive value-added relationships with these six city regions, focused on knowledge exchange and collaboration.

“The inclusion of london – the largest recipient of foreign direct investment in the world – is designed to keep an open channel between Edinburgh and the Uk’s most important investment gateway,” explains Elaine Ballantyne, Head of Investor Support. “london remains the launch pad for many potential overseas investors looking to relocate elsewhere in the Uk.”

THE DRaGoN’S TalEas the new investor engagement strategy takes shape, involving input from a wide variety of international partners including Scottish Development International (SDI), the Scottish Government and the British council, initial efforts have been focused towards china.

In early february 2011, china officially overtook japan as the world’s second largest economy: a trend that looks set to continue with many analysts projecting it will surpass the United States of america in less than 10 years.

In the last 10 years, china has emerged as the Uk’s fastest growing trading partner and British businesses are now the largest European investors in the country, including many Scottish-based financial service organisations such as Standard life and martin currie.

EDINBURGH’S NEw ENGaGEmENT STRaTEGy poSITIoNS ScoTlaND’S capITal aS a cENTRE of ExcEllENcE IN EacH of TIaNjIN’S kEy DEVElopmENT SEcToRS.

Tianjin has a population of more than 12 million people.

www.investedinburgh.com | apRIl To jUNE 2011 | invest edinburgH 11www.investedinburgh.com

cHINa IGNITES oUR NEw ERa of paRTNERSHIpS

<fEaTURE

“when the Scottish Government signed its memorandum of Understanding with the city of Tianjin in july 2010, the agreement paved the way for greater collaboration between Edinburgh and the city identified as china’s ‘new Shanghai’,” says annalee Sutherland, International officer with the city of Edinburgh council.

located in northeast china, just 117 km from Beijing (29 minutes by high speed rail link), Tianjin is one of five national central cities currently receiving substantial central government investment.

with a population of more than 12 million people, Tianjin’s economy reflects the meteoric economic growth of china as a whole, growing by more than 16% in 2009. The city’s New Binhai region is home to many high tech industries and is recognised as a melting pot of innovation, providing an ideal environment for the city’s high growth financial services sector.

“we’ve been working closely with the chinese consulate, SDI, the china Britain Business council, Scottish china chamber of commerce and Scottish-based business already operating in china to strengthen existing relations and forge new networks,” adds annalee.

Tianjin has plans to develop its expertise in financial services, renewable energies and life sciences – an ambition supported by central government.

RaISING awaRENESSEdinburgh’s new engagement strategy positions Scotland’s capital as a centre of excellence in each of Tianjin’s key development sectors. “By developing our relationship now, we aim to be in a strong position to attract future investment within these areas of expertise.”

positioned at the forefront of the global renewable energy debate, Scotland has the resources, knowledge and skills to support Tianjin’s ambitious growth plans, which includes construction of a new eco-city within the next decade. once complete, this beacon of sustainability will be home to 350,000 people and serve as a model for similar projects across china.

as annalee highlights, “awareness of Edinburgh is certainly growing, helped significantly by the recent visit of Vice premier of china li keqiang, leading to the announcement that Edinburgh zoo will soon be home to two giant pandas.

“Since 1986 Edinburgh has been twinned with xi’an and over the years we’ve become very experienced in hosting delegations and initiating projects. The challenge now is to step up that level of engagement and build on our profile as a vibrant, international city with plenty to offer chinese businesses and students.”

In this, the support and guidance provided by organisations such as the china Britain Business council (cBBc) is proving invaluable in creating mutual opportunities for both chinese and Scottish-based business.

George Grubb, lord provost of Edinburgh, welcomes li keqiang, Vice premier of china, on an official visit to the city in january 2011.

Vice premier li keqiang announced the loan of two giant pandas to the Edinburgh zoological Society during his visit in january 2011.

RBGE’s field research station near lijiang.

BUIlDING UNDERSTaNDING wendy liu is cBBc manager for Scotland. She sees an encouraging picture as chinese business becomes increasingly aware of Scotland’s offering – and Edinburgh’s in particular.

“The Uk as a whole has always enjoyed a high profile in china, but traditionally, just as most British companies will be familiar with Beijing and Shanghai, chinese business interest has been focused heavily towards london.

“we’re seeing that picture begin to change now, thanks to Scotland’s new engagement strategy and the increasing popularity of overseas trade delegations from china.”

The cBBc is working with local municipal governments in china to organise such trade events. as awareness of Scotland grows, china’s interest is expanding beyond the limits of the m25, as seen by Tianjin’s trade delegation to Edinburgh in 2010.

The cBBc is also partnering with Scottish Development International to actively promote Scottish business in china.

“This will create opportunities for SDI to join us at networking events across china’s regional cities, meet their chinese counterparts and local officials and in turn, raise the profile of Scotland’s key sector strengths,” adds wendy.

The ultimate aim of such engagement is to establish Scotland as the partner of choice when it comes to industries such as renewable energies and life sciences.


particular attention is therefore being given to showcasing not only Edinburgh’s sector expertise, but also the unique proposition offered by each of the city’s four development zones.

“Edinburgh’s city centre and west Edinburgh hold particular interest for the chinese financial services sector – especially those operating in asset and fund management – while life sciences will naturally be drawn towards Edinburgh’s BioQuarter to the south east of the city,” explains Steve Vance, Investor Support Team.

“china is also committed to a massive programme of investment in renewable energies in order to provide reliable, cheap energy to its rapidly expanding cities and industries. with Scottish-based business at the forefront of renewable energy innovation (including many SmEs located in and around the Edinburgh city Region), the capital is perfectly equipped to provide china’s burgeoning renewables industry with technical engineering expertise.”

a pRoUD HISToRywhile the business world looks east, keen to capitalise on china’s increasing economic freedoms, there is a tendency to believe that Sino-Scottish co-operation is a new phenomenon. However, you would be mistaken: the relationship has deep roots.

for more than 130 years the Royal Botanic Garden Edinburgh has played an instrumental role in promoting the science

of botany in china. as is so often the case, history provides strong indicators as to what the future might hold for other sectors.

as professor Stephen Blackmore, Regius keeper of the Royal Botanic Garden Edinburgh explains, it’s a relationship that has been propagating cultural links between the two countries long before china’s economic resurgence began to attract the west’s interest.

“Since the 1880s the RBGE has been recognised as a centre of excellence for the study of chinese and Himalayan plantlife.

“That relationship was further strengthened in the 1930s and 40s by the arrival of a number of eminent chinese botanists wishing to study in Edinburgh, including chen fenghuai, known as the ‘father of chinese Botanic Gardens’,” adds professor Blackmore.

In 1991, the RGBE’s relationship with china continued to blossom, leading to the signing of a twinning agreement with the kunming Institute of Botany in western china. This led to the creation of a jointly-funded research station on the slopes of jade Dragon Snow mountain, near lijiang, designed to study the flora of this isolated high altitude alpine meadow.

Since opening in 2003, the invaluable research facility has been the operational hub for researchers seeking to catalogue more than 3,000 species of plants found in the surrounding locale. In 2004, the centre – now a popular visitor destination – was declared the Uk’s first joint Scientific laboratory in china.

“EDINBURGH’S cITy cENTRE aND wEST EDINBURGH HolD paRTIcUlaR INTEREST foR THE cHINESE fINaNcIal SERVIcES SEcToR.”


<fEaTURE

furtHer information

www.confuciusinstitute.ac.uk

it’s not just big business that stands to gain from closer links between edinburgh and china. chinese students continue to value the academic pedigree of a scottish education, with ever greater numbers of post- and undergraduate students choosing one of edinburgh’s four universities as their preferred destination (see Invest Edinburgh 34).

The number of Scottish-based students choosing to study asian Studies or chinese languages has also risen exponentially in recent years, a fact of which professor Natascha Gentz, Director of the University of Edinburgh’s confucius Institute is justifiably proud.

The Institute is one of the original tranche created in a network now numbering 332 such establishments worldwide. This cultural network – overseen by the chinese government – aims to promote chinese language and culture overseas.

for the fourth consecutive year, Edinburgh’s centre was awarded the accolade of confucius Institute of the year in 2010.

“we see ourselves not just as a centre of excellence for those wishing to study chinese languages, but as facilitators to business in terms of raising awareness of chinese politics, society and language,” explains professor Gentz.

“Since 2007 we have seen the number of students studying chinese languages increase dramatically. when the Institute first started, we had six students in our first term, we now have more than 200, studying across 15 courses covering all levels of ability,” adds professor Gentz. “we also have close to 150 University of Edinburgh students currently completing chinese Studies as part of their course.”

The confucius Institute also supports work-based learning for Edinburgh businesses, including in the past Royal Bank of Scotland and Standard life, but the recent economic situation has strangled growth. “However, it’s an area where we expect to see interest recover as the global economy recovers,” adds professor Gentz.

To deliver successful partnerships with china, Scotland must continue to increase and develop its level of engagement. To do that requires support organisations such as the confucius Institute, and Edinburgh is fortunate in that it has one of the best in the world.

No loNGER loST IN TRaNSlaTIoN

THE maRkETING mIx Edinburgh will continue involvement in showcase events such as mIpIm and mapIc, which both provide excellent opportunities to showcase the city’s exceptional strengths in financial services, life sciences, renewables and creative industries.

The city will also continue to nurture its work with existing international partners, such as those represented by the city’s extensive consular corps (Edinburgh has the highest level of consular representation in the Uk outside london) and established civic and EU project links.

Bespoke marketing events such as Edinburgh Inspiring capital’s involvement in last year’s clipper Round the world yacht race, also provide further scope for building relationships with stakeholders and will continue to complement the city’s Six city strategy.

“Today, RGBE staff continue to visit china regularly and we have received a number of chinese horticulturists keen to learn from our extensive experience,” says professor Blackmore.

It’s a model for collaboration repeated across Edinburgh, by academic and business communities, as well as research institutions.

Edinburgh’s universities enjoy close working relationships with their chinese counterparts, while Edinburgh Napier University and Heriot-watt University both have an established presence in china.

The memorandum of Understanding between the University of Edinburgh centre for Regenerative medicine and china’s National centre for International Research in Stem cells signposts the way forward for future partnerships.

This partnership, involving the University of Edinburgh, the Roslin Institute and peking University has led to a series of scientific workshops over the past year with an eye toward developing a joint stem cell research institute in china under the leadership of professor Sir Ian wilmut. In the coming year, the partners plan to develop a joint online master’s programme in stem cells and regenerative medicine and select a site for the new research Institute.

furtHer information

e: [email protected]: [email protected]


The last few months of 2010 saw a flurry of positive announcements for Edinburgh’s financial

sector; with new start-ups and inward investment among the capital’s asset managers, merchant

banks and private banks. So, what lies behind the city’s continuing appeal to financial minds?

fINaNcIal SERVIcES:STIll a capITal INVESTmENT

almost by definition, financial services must keep one eye permanently trained on future opportunities. looking ahead,

and mindful of the tough lessons learned from recent events, the long established reputation of Edinburgh’s financial sector continues to offer attractive advantages for any financial services firm: a reputation that is now supplemented in equal measure by the breadth and depth of available skills and an enviable environment in which to live and work.

The city’s financial services sector remains diverse, with strong representation from banking, insurance and pensions, fund

management and asset servicing. more than 80% of all Scottish security brokers and fund managers are based in the city region, which also plays host to general insurance, corporate finance, broking and professional services firms.

BaNkS aND BUIlDING SocIETIESIn february, Virgin money secured the lease on its HQ site in St andrew Square and announced plans to recruit up to 300 staff in the city as it prepares to launch a full-scale banking proposition in late 2011 or 2012. It aims to start offering deposit accounts, followed by mortgages and current accounts, to rival established players.

<aNalySIS


Société Générale private Banking Hambros (SGpB Hambros) also moved to St andrew Square, in September 2010; the latest in a wave of wealth management firms to open an office in the city. The private bank’s first foray north of the border followed on the heels of Quilter, Brooks macdonald and Ruffer, who all opened offices in the city in 2010.

The international and innovative nature of Edinburgh’s banking industry, coupled with The University of Edinburgh’s status as a world-leader in the field of Islamic and middle Eastern Studies, has also made Edinburgh an excellent location for operations specialising in Sharia-compliant financing. Islamic finance products offered in the city include the Halal Home purchase plan of the Islamic Bank of Britain.

GENERal INSURaNcE, lIfE aSSURaNcE & pENSIoNSEdinburgh hosts the headquarters of four major insurance companies – Standard life, Scottish widows, aEGoN Uk and Bright Grey (a division of Royal london) and the city accounts for 40 per cent of all Scottish job in insurance. Scottish financial Enterprise, the financial sector’s national representative body, highlights that its insurance members manage assets in excess of £650 billion between them (inclusive of funds managed by their investment management subsidiaries).

INVESTmENT maNaGERSThe Investment Trust movement was originally pioneered by a Scot, Robert fleming of Dundee, (grandfather of Ian fleming, the novelist and creator of james Bond), as a vehicle for worldwide collective investment. Recent market turmoil may have stirred the industry, but in Edinburgh it has not been shaken. The Investment management association estimates that around 14% of the total Uk assets under management are managed in Scotland, overwhelmingly from Edinburgh, and the quality of investment management expertise in the city has led to a robust growth of boutique firms and business start-ups in the sector.

one example is the investment by industry veteran Graham campbell into leading investment boutique, Saracen, which has achieved a total return more than four times greater than the fTSE all Share Index over the period since its launch

in march 1999. following the investment, Saracen has relocated from Glasgow to Edinburgh with an eye on expansion.

combined assets under management by all the Scottish investment houses stands at around £700 billion and Scotland’s continuing importance in a global context is illustrated by the number of Edinburgh-based investment companies servicing wider markets, including Europe, the USa and asia.

coRpoRaTE fINaNcE & BRokINGThere is also significant venture capital and private equity expertise in the city. Indeed, the number of venture capital funds based in Scotland is greater than those based in any other region of the Uk outside london and the South East. Here too new start-ups can be seen, including Inverleith capital, a boutique investment banking firm launched in 2010 by Ben Thomson, previously with Noble Group.

coNTRIBUTIoN To THE EcoNomyIn 2008 the financial services industry accounted for more than 8% of Scotland’s GDp (some £8.5 billion measured as Gross Value added) and approximately 95,000 Scottish jobs.

Recognising the financial sector’s importance to the Scottish economy, the industry formed a partnership with the public sector, Scottish financial Enterprise, universities and unions to establish the financial Services advisory Board, chaired by Scotland’s first minister.

with their eyes permanently trained on future opportunities, the partners have

created a financial services strategy focused on strengthening Scotland’s

workforce and business environment, increasing the

nation’s profile as a financial centre and enhancing the industry’s competitiveness by supporting product and service innovation.

with Edinburgh’s sector skills base an acknowledged

strength traditionally, one recent innvoation has been the

establishment of the Scottish financial Risk academy, led by the

maxwell Institute for mathematical Sciences, a joint initiative by The

University of Edinburgh and Heriot-watt University. The academy runs a series of knowledge exchange activities, including workshops and placements, designed to improve the interaction between the academic sector and the financial services industry. f

There is no doubt that the traditional strengths of Edinburgh’s financial sector continue to offer attractive advantages for an expanding and diverse range of financial services firms. from all corners of the globe financial services companies continue to be attracted by the breadth and depth of available skills available and by the outstanding natural and built environment Edinburgh offers in which to live and work.

www.edinburgh-inspiringcapital.com/invest/key_business_sectors/financial_services.aspxwww.sfe.org.ukwww.sfra.ac.uk

furtHer information

“moRE THaN 80% of all ScoTTISH SEcURITy BRokERS aND fUND maNaGERS aRE BaSED IN THE cITy REGIoN, wHIcH alSo playS HoST To GENERal INSURaNcE, coRpoRaTE fINaNcE, BRokING aND pRofESSIoNal SERVIcES fIRmS.”


edinburgH: Key indicators

1) population & HouseHolds

2004 latest source

population 453,670 477,660 1Households 209,094 218,774 1average household size 2.12 2.18 1population density (persons /km2) 1,730 1,811 1Natural change (births less deaths) 111 1,236 1Net in-migration 5,138 5,066 1% of population aged 16 to 64 69.6% 70.6% 1

2) labour marKet

3) wealtH & productivity

median gross annual earnings (resident population) £19,075 £23,224 5Gross Value added (GVa) (£million) £12,686 £16.301 3GVa per capita (resident population) £28,019 £34,562 3annual births of new enterprises 1,710 1,745 3annual gross disposable household income £6,690 £7,899 3

4) travel & tourism

annual airport passenger volume (million) 7.99 8.59 6 annual rail station passenger volume (million) 17.05 21.24 7 annual tourist bednights (million) 13.2 (05) 12.8 8annual tourist expenditure (£million) £1,069 (05) £1,043 8annual hotel room occupancy (lothians) 77% 73% 8world ranking for conferences 24 36 9

5) Housing & commercial property

owner-occupation (% of households) 70% 63% 10annual housing completions 2,668 918 11average annual house price £166,207 £218,738 12annual house sales 14,893 7,735 12prime city centre office rentals (£/sqm/year) £285 £310 13Industrial warehouse rentals (£/sqm/year) £60 £65 13zone a retail rentals (£/sqm/year) £3,150 £1,950 13Retail potential Uk ranking 25 15 14

population aged 16+ in employment 228,800 252,700 2Economic activity rate (ages 16-64) 79.7% 76.9% 2Ilo unemployment rate (ages 16-64) 5.2% 4.8% 2 jobseeker’s allowance claimant rate 2.4% 3.2% 3Total employee jobs 312,773 304,286 3 long-term (>1 yr) as % of all claimants 13.9% 15.2% 3

% pop. educated to NVQ4+ (ages 16-64) 45.1% 44.3% 2Students enrolled in universities 51,740 53,645 4

1 General Register office for Scotland2 annual population Survey3 office for National Statistics4 Higher Education Statistics agency5 annual Survey of Hours and Earnings6 civil aviation authority7 office of Rail Regulation

source notes

annual tourist expenditure (£million)

Natural change (births minus deaths)

annual births of new enterprises

owner occupation (% of households)

Students enrolled in universities

8 VisitBritain9 International congress and convention association 10 Scottish Household Survey11 Housing Statistics for Scotland 12 Registers of Scotland13 Valuation office agency14 cacI Retail footprint

48,00049,00050,00051,00052,00053,00054,00055,00056,000

1,5001,6001,7001,8001,9002,000

900

950

1,000

1,050

1,100

60.0%

65.0%

70.0%

75.0%

80.0%

-2000

200400600800

1,0001,200

<THE STaTISTIcS

www.investedinburgh.com | apRIl To jUNE 2011 | invest edinburgH 17

year-on-year cHange in airport passenger numbers

% In

crea

se/d

ecre

ase

in p

asse

ng

er n

um

ber

s

source: civil aviation authority. The comparator cities figure is an average of year-on-year changes in passenger numbers at Birmingham, Bristol, cardiff, Gatwick, Heathrow, leeds, london city, luton, manchester, Newcastle and Stansted airports.

JobseeKer’s allowance claimant count (%)

% w

ork

ing

ag

e p

op

ula

tio

n c

laim

ing

source: NomIS. The comparator cities figure is an average of jobseeker’s allowance claimant counts in Birmingham, Bristol, cardiff, Glasgow, leeds, liverpool, manchester, Newcastle and Nottingham.

Edinburgh Scotland comparator cities

Known large-scale foreign investments in edinburgH

Nu

mb

er o

f kn

ow

n f

DI p

roje

cts

Nu

mb

er o

f jo

bs

crea

ted

source: fDI markets. projects may be retrospectively added to the project database.

Uk

-30.0%

-25.0%

-20.0%

-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

5.0%

Investments

jobs created

Edinburgh

comparator cities

<makING IT HappEN 18


NEw DEVElopmENTS aT QUaRTERmIlE

in 2006 gladedale capital – part of the dunfermline based gladedale group, the 10th largest housebuilder in the uK – began redeveloping Quartermile, the 19-acre former royal infirmary of edinburgh site to include a mixture of new build apartments, offices and retail uses. a new phase of development is now underway.

The new site is located at New meadows, the southern edge of the development area. once completed it will provide a further 300 apartments very close to the heart of Edinburgh

furtHer information

www.qmile.com

city centre, the University of Edinburgh campus and the west meadow park.

Gladedale capital managing director, paul curran, said: “This represents a significant investment by Gladedale capital and comes as a direct result of the success we have enjoyed so far with over 300 new-build and conversion apartments already sold.”

work has started on the foundations for the new phase of buildings, which will also provide an additional 250 underground car park spaces for residents of the new apartments.

paul added: “The New meadows development is a clear demonstration of Gladedale capital’s continued commitment to the city of Edinburgh and I am also delighted to be able to say that almost 400 jobs will be created during the construction period.”

only a month earlier, Hillcrest Housing association ltd – one of Scotland’s largest regional Housing associations – took ownership of a 3,000m2 site on the western edge of the site. Hillcrest is known for providing a comprehensive range of affordable accommodation, specialising in general needs housing for families, couples and single person households.

Emma Hutchison, Hillcrest Business Development manager, commented: “we are delighted to finally be at this stage. It has been an extremely challenging project, which at times looked like it wouldn’t go ahead.

“It is only through the perseverance and flexibility of Hillcrest staff and management committee together with the support of the city of Edinburgh council and the Scottish Government that we signed the contracts enabling us to start on site.”

The Quartermile development is one of the largest and most comprehensive regeneration schemes in Scotland.

currently, Quartermile one (now owned by aVIVa ) extends to 9,300m2 and has tenants such as maclay murray & Spens solicitors (4,645m2) and pure Gym. Quartermile Two, sold to afIaa (Swiss fund) in 2010 for £23 million, extends to 5,575 m2 with lettings to morton fraser solicitors (3,437m2) and Gladedale capital themselves.

all phases combine new buildings with the selective refurbishment of the historic buildings. apartment buildings surround the centrally located offices and shops. Retail occupiers at Quartermile include peter’s yard, Sainsbury’s and Starbucks.

The third phase of

development at Edinburgh’s

prestigious Quartermile district

has now begun; creating almost

400 jobs during construction.

<aDDEDExTRaS

furtHer information

www.golfeastlothian.com

www.muirfield.org.uk

www.edinburghleisuregolf.co.uk


TImE foR TEE aNyoNE?golf – that most alluring and yet infuriating of sports – has a uniquely polarising effect on those who attempt to pick up their first club. you either love the experience or find the prospect of trying to hit a small, white ball a very long way distinctly off-putting.

However, whether you consider yourself a budding lee westwood or lean more towards mark Twain’s view that a round of golf is nothing more than ‘a good walk spoiled’, one fact is undeniable – Scotland remains the sport’s spiritual home.

If you accept that premise then you might be interested to know Edinburgh, and it’s surrounding region, can lay a strong claim as the cradle of golf.

firstly, it boasts the world’s oldest playing course – musselburgh links, where golf has been played since 1567 – not to mention the choice of more than 50 additional courses.

In fact, East lothian is home to more championship courses than any other region in the world, including the renowned muirfield, set to host the world’s top male golfers at the 2013 open championship.

This grand East lothian links course, ranked No.1 in Golf Monthly magazine’s top 100 courses in the Uk and Ireland, is renowned as being a stiff challenge for even the most consistent golfer. Shooting par here is an excellent achievement. It’s also home to one of the world’s first established golf clubs: the Gentleman Golfers of leith, now known as the Honourable company of Edinburgh Golfers, which was formed in Edinburgh in 1744.

for scratch golfers, the challenge of demanding, traditional Scottish links abounds, while players of all handicaps can enjoy playing the rolling countryside and stunning vistas of the region’s parkland courses.

Thanks to local groups such as Golf East lothian, players can even pre-book multiple rounds at significantly reduced prices.

within the city itself, local sports provider, Edinburgh leisure, operates six 18-hole courses offering a range of challenges, all at very affordable prices.

If that wasn’t enough choice, two of the world’s most iconic championship courses – Gleneagles (host venue for the 2014 Ryder cup) and St andrews’ old course – are within a 75 minute drive.

The connection between Scotland and golf can trace its roots as far back as the 15th century, but like the game itself, the story keeps evolving. Driven by an appetite for the authentic Scottish golfing experience, visitors from near and far continue to be drawn to the Edinburgh city Region.

“THE coNNEcTIoN BEHIND ScoTlaND aND Golf caN TRacE ITS RooTS aS faR Back aS THE 15TH cENTURy, BUT lIkE THE GamE ITSElf, THE SToRy kEEpS EVolVING.”

you can get this document on tape, in Braille, large print and various computer formats if you ask us. please contact Interpretation and Translation Service (ITS) on 44 (0)131 242 8181 and quote reference number 11272/01. ITS can also give information on community language translations. you can get more copies of this document by emailing [email protected]

1 …is the capital of Scotland, home to the Scottish parliament, Scottish Government and more than 50 foreign consulates.

2 …is home to six higher education institutes, including the University of Edinburgh, ranked the 15th best university in the world by The Sunday Times in 2010.

3 …has a skilled, productive population, with more than 140,000 working age graduates – more than 44 per cent of the working age population.

4 …is regularly voted as offering the best quality of life of any city in the Uk.

5 …acts as a gateway to Scotland, receiving more than two million domestic visitors and one million overseas visitors per annum spending more than £1 billion.

6 …is home to the corporate headquarters of more fTSE 100 businesses than any other Uk city bar london.

7 …has a rich cultural history, with numerous attractions (including Edinburgh castle and the National Galleries of Scotland) and UNESco world Heritage Site and city of literature status.

8 …is the world’s pre-eminent “festival city”, hosting a year-round programme of festivals with more than five million attendees annually.

9 …has a resilient, diversified economy, with the lowest unemployment rate of any major Uk city.

10 …is well-connected, with Edinburgh airport handling over nine million passengers travelling to more than 125 destinations.

EDINBURGH...

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.

THIS maGazINE IS pRINTED oN ENVIRoNmENTally RESpoNSIBlE papER maNUfacTURED USING 50% REcyclED waSTE aND 50% fIBRE fRom wEll maNaGED foRESTS, coNTRollED SoURcES aND REcyclED wooD.

Invest Edinburgh (April- June 2011)

Documents

edinburgh economymaking

city of edinburgh council

edinburgh eh6

edinburgh startup

small city

capital investment time

development opportunities

city region481014161819i