In its impact review, Edinburgh Innovations, the University’s commercialisation service, has announced that £56 million of a total £113 million invested in University-associated companies went to spinouts – staff companies where the University retains intellectual property.

Many of these were “deep tech” companies, built on complex technology platforms grown from years of scientific research, using advanced therapeutics and biotechnology to tackle issues in healthcare, for example.

Examples include Prothea Technologies, which began clinical trials last year for its technologies that aim to “see and treat” lung cancer in one hospital visit; Concinnity Genetics, which launched with £3 million for its gene control platform and Resolution Therapeutics, which dosed its first patient with a new cell therapy treatment for end-stage liver disease.

The report also highlights that 102 companies in the University’s in-house venture investment fund Old College Capital portfolio have created 1,236 jobs to date.

For the first time, Edinburgh Innovations classified its innovation activity by the University’s three core missions: to shape the future of health and care; tackle the climate and environmental crisis and harness data, digital and AI for good.

It found that 65% of staff and student companies formed this year were linked to the mission of data, digital and AI for good. Out of 64 companies total, these range from spinout CGEN Engineering, which won UK Clean Tech Startup of the Year for its modular generators for renewable energy, to student startup Qinara, which offers businesses quantum technology solutions.

Edinburgh Innovations CEO Andrea Taylor said: “It’s fantastic to see the University’s excellence in deep tech and AI, particularly in the healthcare sphere, underscored by this report.

“Spinouts are a direct route to impact, bringing investment, reputational gain and jobs. In the best cases, they create societal change on a global scale, from advances in renewable energy to curing disease.

“Along with our tech transfer colleagues at other universities we are calling for more UK investment and government support for spinouts, at proof-of-concept stage, for example. And, at Edinburgh, we are exploring ambitious ways to build on these innovation successes during the year to come.”

Professor Liz Baggs, interim Vice Principal of Research and Innovation, said: “The University of Edinburgh is a beacon of knowledge and discovery, and this report sheds light on how we catalyse knowledge into change.

“The new figures show our Research and Innovation Strategy 2030 driving impact in our mission critical areas of climate, data and health, bringing economic and social benefits beyond the walls of the University. This year, we launched the Innovation Career Pathway, for academics wishing to focus on commercialisation and engagement with industry.

“In partnership with Edinburgh Innovations, we are using our unique combination of expertise, infrastructure and purpose to unlock innovation for all.”