Companies based at the Higgs Centre for Innovation in Edinburgh have secured over £25 million in funding since the business incubation centre opened in 2018, creating over 150 jobs.
This achievement highlights Higgs’ role in supporting young businesses and fostering growth and innovation in the space and technology sectors in Scotland.
Over the last seven years the Higgs centre has incubated a total of 28 companies, with 10 currently in residence.
Impressively, 26 of these companies remain active, reflecting a remarkably good 93% survival rate (much higher than the national average).
Business support
The Higgs centre is part of the Science and Technology Facilities Council (STFC).
It is co-located with the UK Astronomy Technology Centre and The University of Edinburgh’s Institute for Astronomy at the Royal Observatory Edinburgh.
This location offers tenants access to labs, cleanrooms and state-of-the-art equipment, including space qualification testing capabilities, alongside specialist advice and guidance.
Impact
The collective impact of these companies is substantial.
The companies have a total employee count of over 150 people, contributing to the local and national economy.
Economic analysis reveals that each Higgs company generates an average gross value added of £498,000 each year.
This has resulted in a total economic impact of £13 million per year from the 26 active companies.
Supported sectors
The STFC Business Incubation programme at the Higgs centre has assisted start-ups on the start of their journey.
The start-ups specialise in a range of areas, including:
- artificial intelligence
- robotics
- photonics
- rocket propulsion
- avionics
- aquaculture
- data analytics
- prosthetics
Game changing incubation
One such company currently raising investment, Robocean, builds subsea robotics to replenish seagrass meadows.
In the last century, Earth has lost almost one third of its global seagrass coverage and restoring these ecosystems has been very difficult until now.
Niall McGrath, Chief Executive Officer at Robocean, said:
Seagrass meadows are the beating heart of our oceans.
Like a Swiss army knife they have a tool for every occasion, supporting biodiversity, capturing CO2, and reducing coastal erosion.
Our incubation at The Higgs Centre has been game changing, thanks to their support we can move faster than ever before.
Our access to laboratories and expertise has allowed us to quickly design, build and test our prototypes on the fly.
No matter what challenge we are facing, there is always someone to help.
Underwater diver with a prototype subsea robotic. Credit: Robocean
Future growth
STFC’s Dr Julian Dines, Head of Innovation at the Higgs centre, said:
We’re very proud to have reached such a significant milestone with over £25 million in investment raised while creating over 150 jobs.
The Higgs Centre’s role is to support small businesses and start-ups by providing them with access to the necessary knowledge, technical skills and facilities to move onto the next stage of their development.
We look forward to continued growth in the tech sector, more successes and additional investments in the near future.
Nurturing tech start-ups
Scotland Office Minister Kirsty McNeill said:
Scotland has a rich history in innovation and technology and the Higgs Centre for Innovation in Edinburgh exemplifies this success, helping Scottish businesses secure over £25 million in investment and create over 150 jobs.
Through our Plan for Change the UK Government is continuing to nurture our tech startups, building on our enviable international reputation, and shaping a future where Scottish ingenuity help to power economic growth across the country.
Ruairidh Henderson, Startup Incubation Manager at the Higgs centre, said:
It’s fulfilling to see the tremendous efforts of our early-stage companies being justly rewarded with patient capital, allowing them to create further opportunities as they grow.
Scotland is undoubtedly a great place to be an entrepreneur right now.
