Edinburgh Research and Innovation — the University of Ediburgh’s arm for commercializing research — had a record year in 2015 with its total number of spin-outs and start-ups reaching 417.

The new companies formed by the university are now estimated to have created more than 3,500 jobs.

“Edinburgh Research and Innovation is central to ensuring that the university’s world leading expertise, state of the art facilities and research outputs are focused to create lasting impact for both industry and the economy,” wrote Dr Pete Hotten, ERI interim chief executive officer, in a report.

“There is a rich variety of innovation activities led and supported by ERI, such as long-term research and consultancy partnerships, intellectual property licensing as well as company spin outs and start-ups.

“Additionally the University of Edinburgh is amongst the most entrepreneurial in the UK and 2015 was a record breaking year with the total number of spin-outs and start-ups reaching 417.

“The influence of this activity is reflected in the fact that the Edinburgh area is now emerging as the largest technology hub outside London.”

ERI has an estimated 2,500 industry partnerships worldwide.