Queen Margaret University (QMU) is joining forces with East Lothian Council and other key organisations across the country to support the authority’s efforts to increase community wealth in the region.
The University has become one of the first signatories of the council’s East Lothian Community Wealth Building Charter. The Charter, a formal partnership between East Lothian Council, QMU and other key stakeholders across the region, is part of the Scottish Government’s Community Wealth Building (CWB) approach to harness the economic and social leverage of influential anchor institutions across the country.
By working across multiple organisations, East Lothian Council aims to harness the collective power which exists in East Lothian to create more job opportunities, increase business growth, improve wellbeing and deliver substantial economic benefits.
QMU is already embedding the concept of CWB through a significant new partnership with Bright Red Triangle, the enterprise hub at Edinburgh Napier University, in a move which will improve and extend the level of entrepreneurial support available to university, college and wider communities.
The QMU Start Up Studio will accommodate both Bright Red Triangle and East Lothian Council’s Business Gateway services on its campus in Musselburgh, presenting a significant opportunity in raising the profile of East Lothian as a place which supports and accommodates start-ups businesses and spin-out companies.
The Council and Queen Margaret University believe that CWB principles can also positively shape and drive academic engagement with the Edinburgh Innovation Hub – a joint venture between East Lothian Council and QMU and funded by the Edinburgh and South East Scotland City Region Deal.
The new Hub, which is on track for completion in 2025, will be made up of flexible laboratory, office and fully equipped meeting and conference spaces for rent and will be a major asset to the local communities, as well as further afield.
The University has an important presence in the county through a combination of being a largescale employer, generator of entrepreneurial thinking and innovation, purchaser of goods and services, and controller of large areas of land and fixed assets in the locality.
Kim Stuart, Director of Research and Knowledge Exchange Development at QMU, said: “Queen Margaret University is totally committed to partnership working which delivers economic and societal benefits and the CWB approach aligns closely with many of QMU’s existing strategic objectives relating to social justice, wellbeing, sustainability, and more resilient local and regional economies.
“This new partnership presents a perfect opportunity for QMU to assist in enhancing the collective benefits which can be created within East Lothian. We hope that this relationship will help foster responsible entrepreneurship and develop solutions that have an impact on society, as a whole. We look forward to working with the Council and other organisations to create a strong and inclusive local economy.”
Councillor John McMillan, East Lothian Council’s Cabinet Spokesperson for Economic Development said: “We are delighted to be working with Queen Margaret University as a signatory of the East Lothian Community Wealth Building Charter.
“Their plans to embed it strategically within the university recognises the importance of this approach and offers a model for other organisations to follow to deliver maximum impact.
“Community Wealth Building aims to redirect wealth back into the local economy to benefit local people. As an authority we’re embracing the opportunities this offers to deliver a fairer and more prosperous East Lothian in line with our key council priorities.
“Our Charter brings together organisations who are committed to this approach and who will work together to create a strong and resilient local economy which benefits everyone.”
Councillor John McMillan concluded: “Community Wealth Building is a cornerstone of the East Lothian Local Economy Strategy.
“Its adoption by Queen Margaret University builds upon our strong partnership and, in particular, the links that exist with our Economic Development service to support entrepreneurial activity, business start-ups and growth.”