LAUNCH.ed is a free support service that helps University of Edinburgh students start businesses.

At LAUNCH.ed, students—from undergraduates, to PhDs and recent alumni—can access one-to-one help from a business advisor on all aspects of setting up a business.
They also run workshops, clinics and competitions and provide mentoring, hot desks and a library of resources and online tools.

LAUNCH.ed supports students with technical, early stage ideas as well as non-technical, near-to-market business ideas.
During the last four years, LAUNCH.ed has helped more than 50 students form their own companies, many of which have grown into successful, profitable enterprises.

If you're a student at the university of Edinburgh, you should definitely get involved in this.

They have a competition running at the moment called New Ideas Competition -If you’re a student or a recent graduate of the university with a business idea and looking for the possibility of turning into a business, this is your chance, get involved in this. The deadline is 6 December 2010.