The Cambridge tech industry has been valued at $191bn (£150.2bn), representing 18% of UK tech at large, new data has found.
Analysis by Dealroom in partnership with the Founders at the University of Cambridge, an accelerator, found that the city’s tech industry had surpassed the value of Spain’s and Italy’s combined.
The research shows that in the first half of the year, tech companies from Cambridge secured a record $1.6bn, driven largely by the $1.05bn round for Cambridge-founded but London-headquartered autonomous vehicle firm Wayve and the $300m round for quantum computing company Quantinuum.
Much of Cambridge’s tech success can be credited to the University of Cambridge, which was named the second-largest producer of spinout companies in the UK – behind the University of Oxford – in Beauhurst’s Spotlight on Spinouts report.
Prominent tech firms originating in Cambridge include Arm, Darktrace and Raspberry Pi.
“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,” said Dealroom founder Yoram Wijngaarde
“The city needs to ensure it can harness its deep tech expertise to remain top and keep producing category-defining companies in the future.”
The findings from Dealroom have been released ahead of investor demo day for the Founders at the University of Cambridge accelerator.
The initiative was launched this year under the leadership of Gerard Grech, the founding CEO of Tech Nation prior to its acquisition by Founders Forum.
“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,” Grech said.
“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.”
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