Innovate Cambridge Launches Strategy to Accelerate Innovation

There have been 62 venture capital rounds in 2024 so far, and nearly half (29) of all rounds were raised by founders who studied at the University of Cambridge.

Cambridge Filmworks have worked with Innovate Cambridge, Cambridge Innovation Capital and Johnson Banks on a stunning new campaign aimed at accelerating innovation through increased startup investment. Filming across the region to capture the stunning architecture, vistas and big skies that epitomise the city of innovation.

Cambridge, UK has unveiled a plan to supercharge the impact of the Greater Cambridge area by doubling the rate at which it builds unicorns, doubling the venture capital investment the city’s startups receive, and creating twice as many science and innovation companies – all within a 10-year timetable.

The transformative plan is designed to cement Cambridge as a national asset, capable of accelerating the growth of the entire UK economy and is led by Innovate Cambridge, the body overseeing the UK city’s innovation impact.

Cambridge’s 10-year vision is designed to accelerate the region’s world-class science and innovation while maximising social returns.

Cambridge boasts over 5,000 innovation-driven companies, 36 research parks, five hospital trusts, two universities, and a thriving startup and investor community.

The city’s tech and life sciences companies have raised over $892 million in venture capital funding this year alone, up 38% compared to 2023, according to Dealroom. Quantum company Riverlane’s $75 million round in August significantly contributed to this growth. This means Cambridge could be on track for its best year for VC since 2021, overtaking 2023’s $1.1 billion.

Leading companies to be founded in Cambridge in the last 25 years include Arm Holdings, Bicycle Therapeutics, CMR Surgical, Darktrace, Healx and Raspberry Pi, delivering the same amount of economic growth in the next 10 years as achieved in the last 25.

There have been 62 venture capital rounds in 2024 so far, and nearly half (29) of all rounds were raised by founders who studied at the University of Cambridge, ahead of ETH Zurich and the University of Oxford.

This week’s Innovate Cambridge Summit also announced the Cambridge Pledge which encourages founders to pledge a meaningful percentage of future wealth, and companies and anchor institutions to make charitable donations to tackle inequality in the region.

To find out more about Innovate Cambridge, please visit: https://innovatecambridge.com/strategy/

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