Cambridge tech ecosystem valued at more than £150bn

King's College Chapel, University of Cambridge. The university is at the heart of Cambridge’s science and technology cluster. Image courtesy of Wikimedia Commons, licensed under the Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0) license

The thriving Cambridge tech ecosystem is worth more than £150bn and represents 18% of the entire UK’s tech ecosystem, new data has revealed.

According to the analysis by Dealroom for Founders at the University of Cambridge, the Cambridge tech ecosystem is worth more than Spain’s and Italy’s combined.

The data cements Cambridge’s standing as one of the UK’s, indeed Europe’s, deep tech leaders, home to innovative companies such as chip maker Arm and cybersecurity company Darktrace.

The report outlined that, ‘in the first half of 2024 alone, Cambridge tech companies have raised a record-breaking $1.6bn driven by mega rounds for autonomous vehicle company Wayve ($1.05bn) and quantum computing company Quantinuum ($300m).’

Much of Cambridge’s success as a tech hub stems from the city’s university, which is the number one science hub in Europe. Indeed, numerous University of Cambridge alumni have founded notable start-ups, including Hermann Hauser (Arm), Alex Kendall (Wayve), Stewart Butterfield (Slack), Demis Hassabis (DeepMind) and Tessa Clarke (Olio).

Gerard Grech, Managing Director at Founders at the University of Cambridge, said: “Cambridge is a powerhouse of innovation thanks to its combination of groundbreaking entrepreneurs, forward-thinking scientists, research institutions and investors and this data proves that. But we can’t rest on our laurels, we have to ensure that the next generation of venture scientists have the support, mentorship and funding to build the next Wayve or Arm and that is what we are hoping to achieve with Founders at the University of Cambridge.”

Yoram Wijngaarde, founder of Dealroom, said: “Cambridge is a force in the scientific and technology world and for good reason, with the university producing more valuable spinouts than any other in Europe and more successful alumni founders. It’s particularly strong in technologies such as quantum computing, AI drug discovery and semiconductors, as well as life sciences, which are some of the most in-demand sectors for funding and development at the moment. The city needs to ensure it can harness its deep tech expertise to remain top and keep producing category-defining companies in the future.”

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