AN Edinburgh-based data analytics firm has collapsed in administration, leading to 25 jobs being lost.
The not-for-profit Smart Data Foundry Limited has entered administration after the firm faced a shortfall in funding and ongoing cash flow constraints.
Established in 2022, Smart Data Foundry, which is a wholly-owned subsidiary of the University of Edinburgh but operates as a separate legal entity, used private-sector financial data for public benefit through secure data sharing, research and analytics services.
Michelle Elliot and Callum Carmichael of specialist business advisory firm FRP Advisory were appointed joint administrators.
They confirmed that 25 employees at the firm were made redundant and that five workers have been retained for a short period to help preserve and safeguard Smart Data Foundry’s assets.
Administrators confirmed they are now trying to sell off the company's assets and intellectual property in a bid to recover as much money as possible to pay back the firm's debts.
In a statement, Elliot, partner at FRP and joint administrator, reportedly said: “The directors and management team worked hard over an extended period to secure a sustainable solution for the business, exploring a range of options before the Company entered administration.
“Smart Data Foundry has made significant efforts to demonstrate how financial data can be used to support economic wellbeing objectives, including helping to address poverty and inequality.
“Our immediate focus is on supporting affected employees and preserving the value of the Company’s intellectual property.
“We are now exploring opportunities to realise value from the assets for the benefit of creditors and encourage any interested parties to contact us.”
The company ceased trading following FRP’s appointment on August 28.
Smart Data Foundry received a £22.5 million grant from UK Research and Innovation’s Strength in Places Fund.
The firm received a further £3m in 2025 from Smart Data Research UK to operate the Financial Data Service, which helped give researchers access to financial data in areas including household financial health, economic resilience and regional economic activity.
A spokesperson for the University of Edinburgh told to DIGIT: “The university understands that Smart Data Foundry Limited has appointed an administrator, and we acknowledge the associated significant impact on its employees and stakeholders.
“While this is a regrettable situation, as Smart Data Foundry Limited is a separate legal entity, it is not for the university to comment on decisions that the company directors have taken while acting in the best interests of the company and its stakeholders.
“The university will continue to adopt a collaborative approach to working with all relevant parties as next steps are determined.”
