New research reveals that Cambridge’s tech industry is valued at $191 billion (£150.2 billion), accounting for 18% of the UK’s overall tech sector.
An analysis conducted by Dealroom in partnership with the Founders at the University of Cambridge accelerator indicates that the tech industry in Cambridge has surpassed the combined value of the tech sectors in Spain and Italy.
In the first half of the year, Cambridge-based tech companies secured a record $1.6 billion in funding. Notable contributions to this sum include a $1.05 billion round for Wayve, an autonomous vehicle firm founded in Cambridge and headquartered in London, and a $300 million round for quantum computing company Quantinuum.
Much of Cambridge’s tech success is attributed to the University of Cambridge, recognized as the second-largest producer of spinout companies in the UK, following the University of Oxford, according to Beauhurst’s Spotlight on Spinouts report. Prominent tech firms originating from 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,” stated 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 the investor demo day for the Founders at the University of Cambridge accelerator.
This initiative, launched this year, is led by Gerard Grech, the founding CEO of Tech Nation before its acquisition by Founders Forum.
These insights underscore Cambridge’s significant impact on the UK tech sector and highlight the city’s role in driving innovation and growth in the industry.