In an announcement made by Prime Minister Theresa May, the University of Edinburgh and technology support platform Wayra UK are joining forces to set up the initiative to support 20 start-ups a year from September.
Our vision is to become the leading AI and blockchain accelerator in Europe...we see this partnership as a valuable step to realising that aim.Dave Robertson, Head of the college of Science and Engineering, The University of Edinburgh
Wayra UK, part of Spanish telecoms giant Telefonica, already runs five UK accelerator programmes but the latest launch is its first in Scotland.
Supported by Scottish Enterprise, the accelerator will help spin-outs and start-ups to scale up. The announcement comes ahead of finalisation of the £1.1 billion Edinburgh and South East Scotland City Region Deal which aims to establish the region as the data capital of Europe.
Wayra UK director Gary Stewart said AI and blockchain “will change the way that we all live and work” and that the accelerator will find and support the entrepreneurs “that will define our collective future”.
The University of Edinburgh has a track record in creating high-value tech-based businesses and its Informatics Ventures programme, launched in 2008, is behind Engage Invest Exploit (EIE), Scotland’s technology investor showcase which annually connects 60 Scottish tech firms with potential investors, partners and customers.
The recent UK Tech Nation Report revealed that 363 start-ups were set up in Edinburgh last year, many of them are focussed on AI...