Begone, financial vampires

AL Kennedy is on the move. Pondering the romantic potential of Stockholm Syndrome, she takes time ou

It was bound to happen – the final twangy bit holding my mental compartments together (or, indeed, apart) was eventually bound to go ping and leave me. I think that happened in Blackpool. Not sure. I have, since we last spoke, been flinging myself into the joys of a writer’s autumn: festivals, festivals and then some touring and more festivals. So Wigtown was followed by Blackpool, by London, by Stockholm, by Cheltenham and by I no longer even care where I am now: wherever it is has food and a bed - I therefore like it. And most evenings I will be up on my hooves doing comedy, or reading, or inconversationing, or perhaps all three. Of course, there is other work to do during the moderately endless hours of travelling. These hours being extended vastly by my plane phobia. For example, I went to Stockholm by train. Or rather, eleven trains and two ferries – my, how I laughed, cried, hallucinated, collected spare change in multiple currencies and drank too much coffee – well, who needs to sleep ? There are things to do.

The things would currently involve rewriting a book of short stories to prevent its shades of misery from being so utterly repetitive that it causes people to die simply from holding it while still in the bookshop. (At this point my publisher would want me to insert some kind of disclaimer to point out that it’s actually a lovely volume full of kittens and sunshine, but you’re hardly going to swallow that, are you? It’s by me.) So my hands are covered in red ink and my loathing for every word is increasing exponentially. I also, for at least two very pressing reasons, have a film I need to hit with a hammer until it works – plus, autumn is the time when writers have to release damp-eyed, gangle-legged young projects into the maze of razor blades and paperwork which is the BBC offers round… off they go, often to fall into the first water hazard, sometimes to trot blithely on towards the next levels of risk, torment and origami. I am sustaining myself with a new CD of music from the Tower Ballroom’s Mighty Wurlitzer – genuinely, the first unremittingly jaunty sound you’ll hear as the demons haul you under to your just deserts

Still, I do quite like the travel – Wigtown had lobsters and cake, Blackpool was Blackpooly and allowed me to learn from various palmists that I am married, divorced, due to have twins and going out with a man who has one bad knee and the letter t, l, a, d, m, n, or c in his name. So that was reassuring. And Stockholm was a treat – always wanted to go there in case they had any Syndrome left. Given my busy schedule and cosmetic disadvantages Stockholm Syndrome represents one of the few ways I would realistically get a gentleman (with or without working knees) to commit himself fully to being fond of me. Four or five weeks in my fundungeon and I feel almost anyone would be able to convert their fear, pain and outrage into sincere and lasting affection.

No. Actually, after more than a month of hostage maintenance – the first aid, the dry cleaning, dealing with the whining and the blood – I don’t know if I wouldn’t be terminally jaded about the whole business. So that’s another option gone.

One benefit of my journeying has been that it keeps me from brooding about the sixteen grand I’ve apparently given to a wunch of bankers for shagging my economy by balancing it on funny money and a house price bubble. I would just mention that their plodding brand of duplicitous charlatanism was exactly what we were told would bring new life to the NHS, our schools, our public transport… Can we just stop pretending we believe that shit now? If we want to know about health care could we, for example, just ask doctors and nurses, maybe focus on keeping people alive in the most convenient and pleasant ways possible? Maybe we could chuck money at the systems which will help us survive when everything topples into the pit we have dug for ourselves and are currently still dancing round pretending that consumer debt and singing lalalalala will sort everything out? And, dear God, could no one else tell me that controlling the actions and bonuses of these weasels would drive them to other countries and that this would be a bad thing. That’s like suggesting the prosecution of burglars should be suspended in case it causes them to use their housebreaking skills on Johnny Foreigner. If our financial vampires want to go and knacker someone else’s banks – let them try. I’d even conjure up a poem to commemorate their departure – I’m busy, but I’d make the time for that.

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An unmatched font of knowledge

Edinburgh’s global reputation as a knowledge economy is rooted in the performance and international outlook of its four universities.

As sociologist-turned US Senator Daniel Patrick Moynihan recognised when asked how to create a world-class city, a strong academic offering is pivotal to any forward-looking, ambitious city. “Build a university,” he said, “and wait 200 years.” He recognised the long-term return such an investment can deliver; how a renowned academic institution can help attract the world. However, in today’s increasingly globalised higher education sector, world-class universities no longer rely on the world coming to come to them – their outlook is increasingly international.

Boasting four world-class universities, Edinburgh not only attracts and retains students from around the world, but also increasingly exports its own distinctively Scottish brand of academic excellence. In fact, 53.9% of the city’s working age population is educated to degree level.

In the most recent QS World University Rankings, the University of Edinburgh was named as the 21st best university in the world, reflecting its reputation for research and teaching. It’s a fact reflected in the latest UK Research Exercise Framework (REF), conducted in 2014, which judged 96% of its academic departments to be producing world-leading research.

Innovation engine

Measured across the UK, annual Gross Value Added (GVA) by University of Edinburgh start-ups contributes more than £164m to the UK economy. In fact, of 262 companies to emerge from the university since the 1960s, 81% remain active today, employing more than 2,700 staff globally. That performance places the University of Edinburgh ahead of institutions such as MIT in terms of the number of start-ups it generates; an innovation hothouse that underlines why one in four graduates remain in Edinburgh and why blue chip brands such as Amazon, IBM and Microsoft all have R&D facilities in the city.

One such spin out making its mark is PureLiFi, founded by Professor Harald Haas to commercialise his groundbreaking research on data transmission using the visible light spectrum. With data transfer speeds 10,000 times faster than radio waves, LiFi not only enables bandwidths of 1 Gigabit/sec but is also far more secure.

Edinburgh’s universities play a pivotal role in the local economy. Through its core operations, knowledge transfer activities and world-class research the University generated £4.9bn in GVA and 44,500 jobs globally, when accounting for international alumni.

With £1.4bn earmarked for estate development over the next 10 years, the University of Edinburgh remains the city’s largest property developer. Its extensive programme of investment includes the soon-to-open Higgs Centre for Innovation. A partnership with the UK Astronomy Technology Centre, the new centre will open next year and will supply business incubation support for potential big data and space technology applications, enabling start-ups to realise the commercial potential of applied research in subjects such as particle physics.

It’s a story of innovation that is mirrored across Edinburgh’s academic landscape. Each university has carved its own areas of academic excellence and research expertise, such as the University of Edinburgh’s renowned School of Informatics, ranked among the world’s elite institutions for Computer Science. 

The future of energy

Research conducted into the economic impact of Heriot-Watt University demonstrated that it generates £278m in annual GVA for the Scottish economy and directly supports more than 6,000 jobs.

Set in 380-acres of picturesque parkland, Heriot-Watt University incorporates the Edinburgh Research Park, the first science park of its kind in the UK and now home to more than 40 companies.

Consistently ranked in the top 25% of UK universities, Heriot-Watt University enjoys an increasingly international reputation underpinned by a strong track record in research. 82% of the institution’s research is considered world-class (REF) – a fact reflected in a record breaking year for the university, attracting £40.6m in research funding in 2015. With an expanding campus in Dubai and last year’s opening of a £35m campus in Malaysia, Heriot-Watt is now among the UK’s top five universities in terms of international presence and numbers of international students.

"In 2015, Heriot-Watt University was ranked 34th overall in the QS ‘Top 50 under 50’ world rankings." 

Its established strengths in industry-related research will be further boosted with the imminent opening of the £20m Lyell Centre. It will become the Scottish headquarters of the British Geological Survey, and research will focus on global issues such as energy supply, environmental impact and climate change. As well as providing laboratory facilities, the new centre will feature a 50,000 litre climate change research aquarium, the UK Natural Environment Research Council Centre for Doctoral Training (CDT) in Oil and Gas, and the Shell Centre for Exploration Geoscience.

International appeal

An increasingly global outlook, supported by a bold international strategy, is helping to drive Edinburgh Napier University’s growth. The university now has more than 4,500 students studying its overseas programmes, through partnerships with institutions in Hong Kong, Singapore, China, Sri Lanka and India.

Edinburgh Napier has been present in Hong Kong for more than 20 years and its impact grows year-on-year. Already the UK’s largest higher education provider in the territory, more than 1,500 students graduated in 2015 alone.

In terms of world-leading research, Edinburgh Napier continues to make its mark, with the REF judging 54% of its research to be either world-class or internationally excellent in 2014. The assessment singled out particular strengths in Earth Systems and Environmental Sciences, where it was rated the top UK modern university for research impact. Taking into account research, knowledge exchange, as well as student and staff spending, Edinburgh Napier University generates in excess of £201.9m GVA and supports 2,897 jobs in the city economy.

On the south-east side of Edinburgh, Queen Margaret University is Scotland’s first university to have an on-campus Business Gateway, highlighting the emphasis placed on business creation and innovation.

QMU moved up 49 places overall in the 2014 REF, taking it to 80th place in The Times’ rankings for research excellence in the UK. The Framework scored 58% of Queen Margaret’s research as either world-leading or internationally excellent, especially in relation to Speech and Language Sciences, where the University is ranked 2nd in the UK.

In terms of its international appeal, one in five of Queen Margaret’s students now comes from outside the EU, and it is also expanding its overseas programme offer, which already sees courses delivered in Greece, India, Nepal, Saudi Arabia and Singapore.

With 820 years of collective academic excellence to export to the world, Edinburgh enjoys a truly privileged position in the evolving story of academic globalisation and the commercialisation of world-class research and innovation. If he were still around today, Senator Moynihan would no doubt agree – a world-class city indeed.

For further information www.investinedinburgh.com