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UK chip designer Arm has co-founded a new start-up accelerator in Cambridge, the aim of which is to help fledgling “deep tech” firms grow into the tech giants of tomorrow.
A joint venture between Arm, the University of Cambridge, private equity investor Cambridge Innovation Capital and venture firm Martlet Capital, the accelerator, known as Deeptech Labs, has already invested in five Machine Learning and Data Science companies: AutoFill, BKwai, Circuit Mind, Contilio, and Mindtech.
These five start-ups will receive financing, as well as a structured three-month development programme. They will also gain access to a unique community comprising more than 50 deep technology leaders from Cambridge and around the world, who will act as advisers and mentors to them. This community so far includes: the Founders/Chief Executives of Arm, CSR, Imagination Technologies, Analysis, Active Hotels, Arieso, Blinkx, Cloudamize, Focal Point, Riverlane, Ubisense and many more.
Deeptech Labs will be led by Miles Kirby, who brings over 20 years of global deeptech venture capital experience to the role. The start-up accelerator will help to harness the potential of the next generation of technology talent.
Cambridge has developed many leading companies in the technology space for many years, giving rise to companies such as Arm, CSR, and Darktrace.
Adam Bastin, VP of corporate development at Arm, said in a statement that Cambridge has “remained a critical hub of talent, creativity and innovation” from Arm’s earliest days in a barn just outside the city back in the early 1980s.
“In co-founding Deeptech Labs, we’re pleased to support the next generation of game-changing technology companies by helping them to access the world-class Cambridge technology ecosystem,” he said.
In exchange for a percentage of equity — typically 5% to 20% — Deeptech Labs offers start-ups £350,000, access to its three-month development programme and an invitation to participate in the Deeptech Labs Demo Day, where they are introduced to the world’s leading deeptech investors.
Deeptech Labs Cohort 1 has already finished. Its second cohort will start in September 2021. Check out the Deeptech Labs website for more info - https://dtl.vc/