St Andrews University and Fife Council sign deal over new £9m enterprise hub

They have exchanged "letters of intent" - a precursor to a binding legal agreement - pledging support for the £9 million Eden Enterprise Hub at the new Eden Campus, which is being funded through the Tay Cities Deal.

Councillors agreed to proceed with the venture behind closed doors at a committee meeting last Thursday.

Under the deal, signed by Fife, Dundee City, Perth and Kinross and Angus Councils alongside the UK and Scottish Governments, £26.5 million will be invested in the new university space - once a paper mill - to create 100 jobs and encourage a further £110 million of local investment.

While much of the Eden project is being led by the university, it has collaborated with Fife Council on the Enterprise Hub to nurture new and growing businesses by providing them with high-tech workspaces on campus.

The council's financial contributions to the project are yet to be detailed, though previous statements have suggested £2 million could be contributed between Fife Council and the Scottish Government.

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Cllr David Ross, council co-leader said of the hub: "This a unique opportunity to create enterprise space for innovative start-ups and growing businesses in North East Fife, linked to the inclusive, net-zero carbon economy.”

Cllr Karen Marjoram, SNP depute group leader added: “The Eden Enterprise Hub will establish a commercially viable business incubator that caters for spin-out and start-up companies building on the expertise of the region’s universities.”

The university's Eden Campus programme director Geoff Morris welcomed the link-up.

He said: "This builds on our own investments over the past decade to regenerate the old papermill site into a modern campus creating new jobs and opportunities for industry and the university to work together.

"Fife Council’s investment adds to our own and the grants from both governments awarded through a number of economic programmes, especially the Tay Cities Deal.”

Other investments in the 32.5 acre site include £7 million for a primary substation and £13.5 million for a research centre for clean energy.

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