Cambridge start-up secures £23m for its software-based approach to GPS
A Cambridge start-up has secured up to £23m of investment for its software-based approach to GPS positioning following a multi-round Series C funding round.
Two significant Cambridge science park developments could provide much-needed extra laboratory space and jobs, if they both go ahead as planned.
First, a new Cambridge Science Park north of the A14 could be created to provide midtech employment.
Cambridge Science Park North, as it would be known, could create up to 3,000 jobs through apprenticeships in partnership with Cambridge Regional College and Anglia Ruskin University.
Trinity College, which owns the existing Cambridge Science Park, has an option to purchase the land and is reportedly exploring the concept. The constituent college of the University of Cambridge has submitted proposals for consideration.
Jane Hutchins, director of Cambridge Science Park, told the Cambridge Independent: “The idea behind Cambridge Science Park North is not to expand the existing Science Park but to create something different to complement it. It’s on the other side of the A14 – you can walk there from here.
“There is an acknowledged shortage in Cambridge of ‘midtech’ employment, not the post-doctoral, highly specialised R&D jobs that you get here, but what comes next, when a company has done the innovation and the research and wants to develop it into a product and needs a prototyping facility, or something of that nature.”
Meanwhile, Sheppard Robson has unveiled plans for a £250m re-development of Melbourn Science Park. Under the plans, which are backed by Bruntwood SciTech, the science park will get six new buildings and three of its existing structures will be refurbished. The resulting 36,000m² of office and lab space will be able to accommodate around 75 life sciences and tech businesses south of Cambridge.
There will also be a co-working space that start-ups can take advantage of, as well as a ‘village green’, a gastropub and an 18-bedroom hotel. Cycle and car parking facilities with electric charging points will also be available.
Sheppard Robson says a number of green initiatives, including an advanced heating and cooling system and 600m² of rooftop solar panels will help offset carbon emissions associated with the science park’s construction.
Jamie Clyde, director for the southern region and innovation services at Bruntwood SciTech, said: ‘Our major investment into Melbourn Science Park reaffirms our long-term commitment to support the growth of Cambridgeshire’s life science and tech cluster, connecting businesses to our UK network of more than 500 existing sector specialist companies of all sizes.
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An artist's impression of Melbourn Science Park Masterplan. Image credit: Virtual Planit
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