Funding to support world leading research.
Nearly 40 highly skilled jobs will be created in Edinburgh following £6.9 million investment in innovative software by business consultancy company Mudano.
Economy and Finance Secretary Derek Mackay has announced that the company has been awarded a £2.6 million research and development grant. The funding will contribute towards Mudano’s software development project and will help create the world’s first artificial intelligence project management software at their new Edinburgh division.
Confirming the investment and funding contribution ahead of the launch of the Scottish Government’s Economic Action Plan, Derek Mackay said:
“Innovative and ambitious companies like Mudano are vital to the Scottish economy. That is why the Scottish Government is supporting businesses to take advantage of the opportunities that come from our established strengths in innovation and technological change.
“With London-based companies like Mudano establishing Scottish divisions, it is clear that our focus on internationalisation, infrastructure investment, innovation and fair work is gathering pace, backed by a business tax policy purposefully designed to accelerate growth.
“Alongside the launch of our new Economic Action Plan, we will continue to meet and listen to business leaders to focus our actions on growing our economy and labour market.”
Ed Broussard, co-founder and chief executive of Mudano said:
“We’re delighted to set up our R&D team in Edinburgh. We have been blown away by the talent in data science and engineering in Scotland and it’s fantastic that we are able to conduct cutting edge research right here in Scotland which is helping us transform how some of the biggest Financial Services firms from across the UK use data.
Steve Dunlop, Chief Executive of Scottish Enterprise said:
“Mudano’s decision to expand its operations here is great news for the Scottish economy and real endorsement of Scotland’s ability to attract inward investment with our highly skilled workforce, connected business infrastructure and exceptional quality of life.
“Scotland continues to be the number one UK location for R&D projects with inward investors, and Mudano is a fantastic example of how companies locating here can harness the power of data-driven innovation.
“We look forward to helping Mudano grow further and create more inclusive, sustainable jobs for the people of Scotland.”