Mercia EIS Funds

Mercia-backed Particle Analytics wins double in awards celebrating entrepreneurship in Scotland

Particle Analytics, a start-up within Mercia’s SEIS portfolio that builds on world-renowned solid particle technology from the University of Edinburgh, has won two separate awards in the space of two weeks, both of which celebrate entrepreneurship and innovation in Scotland.

The company won ‘Spinout of the Year’ at the Inspire Launch Grow competition organised by Edinburgh Research & Innovation (ERI), the commercialisation arm of the University of Edinburgh. These awards recognised exceptional entrepreneurial talent within the university, from students to staff, and this particular category, which was new to 2016, celebrated achievements of outstanding success.

Tom Ogilvie, ERI’s Enterprise Development Manager, said:

“Particle Analytics has made significant progress in developing their technology since they launched in February 2015. The company has not only been able to validate its unique visualisation software, but importantly it has secured strong commitments from a number of multi-national partners, demonstrating the huge market potential.”

Particle Analytics then went on to win £40,000 in funding from Scottish EDGE, a competition aimed at identifying and supporting Scotland’s up-and-coming innovative, high-growth potential entrepreneurial talent.

Gordon Merrylees, Scottish EDGE board member and Head of Entrepreneurship at Royal Bank of Scotland and Natwest, said:

“The Scottish EDGE has had a huge impact on Scotland’s economy, with our alumni creating 641 jobs since receiving their Scottish EDGE funding and support. We’re looking forward to continued success as this year’s winners join our group of high-achieving alumni.”

Commenting on both awards, CEO of Particle Analytics Carlos Labra said:

“I am very pleased to accept these awards on behalf of Particle Analytics, and I am grateful to both Scottish EDGE and Edinburgh Research & Innovation for recognising our potential. Scotland is becoming an exciting place for entrepreneurs to develop their ideas, and I hope to see more businesses begin their growth journeys here.”

Particle Analytics provides software for the pre-processing, visualisation and advanced analysis of simulation data on the handling and processing of particulate and industrial bulk solids. It received its first investment from Mercia’s third party funds in February this year, which invested a total of £140,000 from its University Growth Fund. The Fund was set up to support the capital requirements of university spinouts, which constitute approximately 50% of all investments made by Mercia.

Dr Nicola Broughton, Mercia’s Investment Director and Head of Universities, said:

“Particle Analytics is testament not only to the potential of university spinouts, but also to the wealth of investment opportunities residing within Scotland, one of Mercia’s key regions of focus. We are delighted with the recognition which Particle Analytics has received in the last two weeks and Mercia continues to support them on their journey.”