Last checked at 1 Nov 2017 07:00
RNS Reach | 1 November 2017 |
Mercia Technologies PLC
("Mercia" or the "Group")
New University Partnership announced with the University of Edinburgh
Mercia Technologies PLC (AIM: MERC), the national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions is pleased to announce that it has signed a partnership agreement with the University of Edinburgh ("UoE"); one of the world's Top 25 Universities (according to the Quacquarelli Symonds 'QS' World University Rankings).
This latest non-exclusive partnership with the UoE provides access to Edinburgh Innovations, which has established 189 new spin-out/start-up businesses in the past five years. Mercia anticipates a significant number of new Scottish investment opportunities as part of the partnership, over the medium term.
Mercia will establish a team of up to four people initially on the UoE campus and has the funds available to deploy specifically for opportunities developed at the UoE. This will be an important base for Mercia to both reach out to the leading research centres within UoE, importantly connecting to its five other Scottish university partners and more broadly, to other innovators and entrepreneurs across Scotland.
Dr George Baxter, CEO of Edinburgh Innovations at the UoE said: "The UoE has an exciting pipeline of technology coming from its internationally recognised research base. We are pleased to be working with Mercia which has a strong track record of supporting spinout activity and we see this partnership as an important part in the UoE's mission to increase its role in local, regional and national innovation, such as the recently announced Edinburgh and South East Scotland City Region Deal."
Mark Payton, Chief Executive Officer of Mercia Technologies PLC said: "This is a further milestone for Mercia as we continue to expand our model of patiently supporting globally relevant opportunities with our managed funds before swiftly scaling via our balance sheet capital. I would like to thank the team at the UoE for their positive support and engagement. I look forward to what I know will be a productive relationship as we build out our presence in Scotland and, in parallel, continue to support our 18 other key university partnerships across the Midlands, the North of England and Scotland."
For further information, please contact:
Mercia Technologies PLC Mark Payton, Chief Executive Officer Martin Glanfield, Chief Financial Officer www.merciatech.co.uk
| +44 (0)330 223 1430
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Cenkos Securities plc | +44 (0)20 7397 8900 |
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Canaccord Genuity Limited | +44 (0)20 7523 8000 |
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Buchanan | +44 (0)20 7466 5000 |
Bobby Morse, Victoria Hayns, Stephanie Watson | |
www.buchanan.uk.com |
About Mercia Technologies PLC
Mercia is a national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions. Mercia benefits from 19 university partnerships and offices across the Midlands, the North of England and Scotland providing it with access to high quality, regional deal flow. Mercia Technologies PLC is quoted on AIM with the epic "MERC".
Mercia's 'Complete Capital Solution' initially nurtures businesses via its third party funds (now with circa £336.5million under management following recent mandate wins) and then over time Mercia can provide further funding to its 'Emerging Stars' by deploying direct investment follow-on capital from its own balance sheet. Since its IPO in December 2014, Mercia has invested over £41.0million directly across its portfolio of 'Emerging Stars'.