The University of Edinburgh has welcomed its first commercial tenant to the new Edinburgh Futures Institute, in the capital’s historic Old Royal Infirmary in Lauriston Place.

Smart Data Foundry (SDF) has moved from the nearby Bayes Centre to a state-of-the-art workspace in one of the converted Nightingale wards in the A-listed building, which dates back to 1879.

SDF’s move follows a period of sustained growth for the organisation which was founded in 2022 to unlock the power of financial data to tackle the major issues society is currently facing.

Over the past two years, it has seen its workforce grow and mature, and forge partnerships with clients like Sage, NatWest Group, and the Financial Conduct Authority (FCA).

The not-for-profit has moved into a purpose-built ward on the 2nd floor of the history building, which housed the city’s main hospital until 2003.

The institute officially opened to the public on 3rd June, following a multi-million-pound, seven-year refurbishment programme.

Commenting, Professor Kev Dhaliwal, the interim director of the Edinburgh Futures Institute, said: “Edinburgh Futures Institute is delighted to welcome Smart Data Foundry.

“As one of the region’s Data Driven Innovation Hubs, we bring together staff, students and partners into an inspiring, collaborative and entrepreneurial environment.

“Co-location with our financial and public services sector hubs, alongside numerous industrial partners, researchers, and talented students, will accelerate data innovation and insights to help solve national and global challenges.

“We share the ambition to deliver positive social impact and build a better world using the power of data.”

The refurbished building includes teaching facilities, rooms for co-working with industry partners, business incubation areas, labs for innovation and prototyping, a public square, café, and exhibition and performance spaces.

Dame Julia Unwin, chair of Smart Data Foundry, said: “Edinburgh Futures Institute has an unrivalled range of facilities in the heart of Edinburgh, and this strategic relocation underscores our commitment to fostering greater collaboration, innovation and productivity in our mission to unlock the power of data for good.

“It’s our aim to cultivate a dynamic ecosystem where data scientists, researchers, and industry partners can collaborate seamlessly to unlock new insights and drive forward our purpose of creating positive impact across society, the economy and the environment.

“Our new home at the Edinburgh Futures Institute is the perfect base for this ecosystem to flourish.”

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Smart Data Foundry currently delivers pioneering projects including a Cost-of-Living Dashboard for East Renfrewshire Council—which DIGIT recently delved into with SDF’s head of data insight, Rui Cardoso.

Utilising near real-time de-identified data from NatWest Group, the dashboard integrates financial well-being indicators with contextual information, helping the council to better understand the challenges citizens face and therefore how this might impact on future policy interventions.

Other projects include the launch of the groundbreaking Income Volatility Dashboard with Joseph Rowntree Foundation, which provides a comprehensive and unique view of income volatility and insecurity on consumers throughout the United Kingdom as a research and policy platform.