As Mackay unveils action plan...
Mudano creates pioneering AI in new Edinburgh hub
Derek Mackay: unveiling jobs and an action plan (pic: Terry Murden)
A business consultancy creating the world’s first artificial intelligence project management software has received government support for a new facility in Edinburgh.
Up to 40 highly skilled jobs are promised by London-headquartered Mudano at its new research and development hub in Lochrin Square.
Mudano is developing IT programming software which is used in forecasting and removing wasteful practices to increase business value.
Economy and Finance Secretary Derek Mackay has confirmed a £2.6m R&D grant following a £6.9m investment by the company.
His commitment to Mudano coincided with the launch of the Scottish Government’s Economic Action Plan which includes an £18 million fund to help businesses benefit from developments in manufacturing.
As part of a response to the business-led Enterprise and Skills Strategic Board, the Economic Action Plan sets out a number of new and existing actions that will work together to build a strong, vibrant and diverse economy that promotes wellbeing and attracts investment.
The plan follows the publication of the State of the Economy Report.
“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,” he said.
“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 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.”
A marine manufacturing facility is planned for the Clyde, creating an estimated 1,000 jobs.
Malin Group will create a hub at Old Kilpatrick, in West Dunbartonshire, on a derelict 47-acre site which was formerly the Carless oil storage facility.
The site is land zoned for industrial use and will have direct access to a deep-water channel via an 80-metre long deep-water quayside berth with heavy lift facilities.