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Online Learning News and Research
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Tuesday, July 13, 2004
On-line Scots university weaves worldwide web - WILLIAM LYONS Scotsman
Scotland's Interactive University, created to market and sell Scottish degrees on line across the world, has exceeded all targets for its first full year of trading. The IU, headed by the technology entrepreneur and investor David Farquhar, has reported a profit and established itself as a global leader in e-learning. The IU is a spin-off from Heriot-Watt University and is funded by Scottish Enterprise. After just 18 months it has more than 60,000 on-line students and provides 4.5 million-plus learning hours a year. The Edinburgh-based firm had projected a loss for its first year, but in the first published accounts since its creation in October 2002, sales have reached £1.4 million, giving it a modest operational profit.
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