The University of Cambridge is one of the world’s leading universities, with a rich history of radical thinking dating back to 1209. Its mission is to contribute to society through the pursuit of education, learning and research at the highest international levels of excellence.
The University reports annually on the ways in which it has delivered charitable purposes for the public benefit. Here are some of this year's highlights.
Financial highlights
Group income
The Group’s income has increased by £112m (up 4%) compared to the prior year, due primarily to a continued strong performance from Cambridge University Press & Assessment, and increased tuition fees and education contracts, donations and endowments, and investment income.
Group net assets
The Group’s net assets totalled £7,991m at 31 July 2024 (2023: £7,168m). The increase in net assets substantially reflects non-cash credit adjustments of £344m relating to the USS pension scheme deficit recovery provision, £346m of net investment gains, and £13m relating to the fair value revaluation of the Group’s CPI-linked bond, combined with actuarial gains of £99m on the Group’s defined benefit pension schemes.
Group surplus for the year
The Group generated a reported surplus for the year of £726m (2023: £199m). After adjusting for the fair value revaluation, the CPI index-linked Bond, change in USS pension deficit recovery provision, donations, endowments and capital grant income, and the CUEF income on a distribution basis, the underlying ‘adjusted operating deficit’ was £16m (2023: £10m). The University considers this to be a meaningful, consistent measure of underlying recurrent operating performance.
Cambridge is changing the story of cancer
Work will begin soon on a new hospital that will transform how we diagnose and treat cancer. It’s the culmination of decades of excellence in cancer research and care at Cambridge.
Planning permission has been granted for a new Cambridge Cancer Research Hospital. The hospital will treat patients across the East of England, but the research that takes place there promises to change the lives of cancer patients across the UK and beyond.
Cambridge is one of the world’s leading centres for cancer research and cancer care. It has long been a recipient of major funding from Cancer Research UK. Together with our partners at Cambridge University Hospitals NHS Foundation Trust, we have transformed how we understand and treat cancer.
This year, our Early Cancer Institute received an £11 million donation in honour of Hong Kong-based philanthropist Sir Ka-shing Li and the enduring partnership between his charitable foundation and our University. The Institute is dedicated to finding radical new ways to detect cancer early so that it can be treated more easily. Its Director, Professor Rebecca Fitzgerald, has already pioneered a capsule sponge being trialled across the NHS to detect Barrett's oesophagus, a precursor to oesophageal cancer.
Our researchers are developing kinder, more effective treatments. A chance discovery in 2005 by Professor Sir Steve Jackson led to the development of so-called PARP inhibitor drugs. One of these, Olaparib, has been used to treat over 140,000 patients globally, changing the outlook for people with breast, ovarian, prostate and pancreatic cancers.
Professor Jean Abraham leads the Precision Breast Cancer Institute, which will be housed in the new Hospital. It will use cutting-edge genome technology to examine tumour DNA faster than ever and tailor treatments to the patient as well as to their cancer. None of our work would be possible without the involvement of patients. They are vital to every single step of the process, helping from planning research priorities, to developing clinical trials, to designing the new Hospital.
Using artificial intelligence to tackle society’s biggest challenges
ai@cam – the University’s flagship mission to drive AI innovation that benefits science, citizens and society – has launched 5 ‘AI-deas’ challenges.
The challenges will apply AI to major societal issues, including fertility, climate change, language and communication barriers, mental health, and how local authorities deploy AI.
Each project exemplifies the public value ai@cam champions in AI research, by being interdisciplinary, grounded in real world need, and involving external stakeholders such as affected communities, public sector, industry and NGOs.
Neil Lawrence, chair of ai@cam, said: “There’s a vibrant community of researchers across all career levels who are passionate about connecting AI to public interest. AI has the potential to drive progress on the things that actually matter to people.”
One project, led by Professor Zoe Kourtzi, will use AI to better understand brain health and disease. This year, she showed that AI is better than clinical tests at predicting whether people with early signs of dementia will remain stable or develop Alzheimer’s disease.
Dawn: a new supercomputer
Cambridge has become host to the UK’s fastest AI supercomputer, Dawn, which will vastly increase the country’s AI and simulation compute capacity for both fundamental research and industrial use.
Dawn will harness the power of both AI and high-performance computing to tackle some of the world’s most challenging and pressing problems, including healthcare, green fusion energy development and climate modelling.
The supercomputer has been co-designed by the University of Cambridge Research Computing Services together with the UK Atomic Energy Authority and global tech leaders Intel and Dell Technologies, supported by UK Research and Innovation.
Recreating the face of a 75,000-year-old Neanderthal
A major new Netflix documentary revealed the face of a 75,000-year-old female Neanderthal whose flattened skull was discovered and rebuilt from hundreds of bone fragments by a team led by Cambridge archaeologists and conservators.
The team excavated the Neanderthal, known as Shanidar Z, in 2018 from inside a cave in Iraqi Kurdistan, where the species had repeatedly returned to lay their dead to rest. New analysis strongly suggests that this individual was an older female, perhaps in her mid-forties – a significant age to reach so deep in prehistory.
Lead conservator Dr Lucía López-Polín pieced over 200 bits of skull together freehand to return it to its original shape, including upper and lower jaws. The rebuilt skull was surface scanned and 3D-printed, forming the basis of a reconstructed head created by world-leading palaeoartists and identical twins Adrie and Alfons Kennis, who built up layers of fabricated muscle and skin to reveal a face.
‘Secrets of the Neanderthals’, produced for Netflix by BBC Studios Science Unit, followed the Cambridge team as they returned to Shanidar Cave to continue excavations.
Why 7 in 10 women experience pregnancy sickness
A Cambridge-led study has shown why many women experience nausea and vomiting during pregnancy – and why some women become so sick they need to be admitted to hospital.
Until recently, the cause of pregnancy sickness – known as hyperemesis gravidarum – was entirely unknown. The culprit, it turns out, is a hormone produced by the fetus: a protein known as GDF15.
Professor Sir Stephen O’Rahilly and colleagues showed that how sick the mother feels depends on a combination of how much of the hormone is produced by the fetus and how much exposure the mother had to this hormone before becoming pregnant.
Mice exposed to acute, high levels of GDF15 showed signs of loss of appetite, suggesting that they were experiencing nausea – but mice treated with a long-acting form of GDF15 did not show similar behaviour when exposed to acute levels of the hormone.
The discovery points to a potential way to prevent pregnancy sickness by exposing mothers to GDF15 ahead of pregnancy to build up their resilience.
Artificial pancreas approved for use in UK and USA
An artificial pancreas that enables people living with type 1 diabetes to manage their condition has been approved by the National Institute for Health and Care Excellence (NICE).
CamAPS FX app, which was developed by Cambridge researchers and controls the artificial pancreas, has been described as “a godsend” by Ian Haigh, father of nine-year-old Eddie, who has type 1 diabetes. It has meant an end to the relentless cycle of finger-pricking, injections and sleepless nights, meaning Eddie can now learn without interruption, spend time with his friends and play sport.
The device has also been granted approval by the USA’s Food and Drug Administration (FDA) for use by individuals with type 1 diabetes aged two and older, including during pregnancy.
Looking for habitable planets outside our Solar System
Cambridge astronomers have used data from the James Webb Space Telescope to discover methane and carbon dioxide in the atmosphere of K2-18 b, an exoplanet in the habitable ‘Goldilocks zone’.
This is the first time that carbon-based molecules have been discovered in the atmosphere of an exoplanet in this zone. The results could be signs of an ocean-covered surface underneath a hydrogen-rich atmosphere, providing a glimpse into a planet unlike anything else in our Solar System.
Intriguingly, the researchers also identified another, weaker signal that could be signs of dimethyl sulphide. On Earth, this molecule is only produced by life, primarily microbial life such as marine phytoplankton. Could this mean there is biological activity on K2-18 b?
Love lost and found
Over 100 letters sent to French sailors by their fiancées, wives, parents and siblings – but never delivered – have been opened and studied for the first time since they were written in 1757–8.
The messages were seized by Britain’s Royal Navy during the Seven Years’ War, taken to the Admiralty in London, but never opened.
The letters, now held at the National Archives in Kew, were finally opened and read by Professor Renaud Morieux from Cambridge’s History Faculty. They offer extremely rare and moving insights into the loves, lives and family quarrels of everyone from elderly peasants to wealthy officers’ wives.
Spitting Image at the University Library
First broadcast in 1984, Spitting Image changed the cultural landscape of the UK and beyond forever. Almost 40 years later, Cambridge University Library – home to the programme’s archive – presented a full retrospective exhibition of the TV phenomenon.
Spitting Image: A Controversial History explored the history and legacy of the satirical puppet show and its impact on British politics, culture and celebrity, for good and ill.
On display were puppets including Princess Diana, Margaret Thatcher and the Queen Mother, as well as never-before-seen sketches, caricatures and other memorabilia – even letters of complaint and Mrs Thatcher’s handbag – drawn from the archive.
Sandi Toksvig takes up inaugural Q+ Fellowship
Sandi Toksvig, award-winning author, broadcaster, entertainer and founder of the Women’s Equality Party, was awarded the inaugural Qantabrigian Fellowship by the LGBTQ+ research programme.
The Q+ Fellowship is dedicated to recognising the many extraordinary achievements of Cambridge’s LGBTQ+ alumni over many centuries and across the globe. It enables distinguished LGBTQ+ alumni to spend time at the University to conduct a research project or incubate a new idea.
As part of her Fellowship, Sandi worked on a new Mappa Mundi project, with the aim of creating a three-dimensional, interactive view of the globe from a female perspective. The resource will document women’s positions, achievements and struggles across the globe.
King’s College Chapel unveils rooftop solar panels
King's College, an independent College and associated body of the University, completed work on a year-long conservation of its Chapel roof and began installation of 438 new solar panels.
Restoration of the Chapel roof had become increasingly urgent once its lead roof covering exceeded its natural lifespan, meaning it was no longer watertight. The College recognised a once-in-a-generation opportunity to both completely restore the roof and install photovoltaic panels.
Panels have been installed on each of the north and south slopes of the Chapel roof, generating an anticipated 123,000 kilowatt hours per year to feed into the College’s electricity supply. They will reduce the College’s carbon emissions by more than 23 tonnes each year, the equivalent of planting 1090 trees.
Boat Race double for Cambridge's rowers
Cambridge rowers achieved double success in the 2024 Boat Race, winning both the Men’s and Women’s races in a thrilling day of action on the Thames.
In the 78th Women’s Race, Oxford took an early lead, but Cambridge caught up and overtook Oxford. In the 169th Men’s Race, Cambridge took an early lead but slowed towards the end, managing to hold on for what was in the end a comfortable victory.
Vice-Chancellor Professor Deborah Prentice, who was watching her first Boat Race after joining in July 2023, described it as “utterly brilliant – everything I expected and more.”
First Foundation Year students begin degrees
The first students from the University’s pre-degree foundation year began their degrees after successfully completing the one-year programme.
The Cambridge Foundation Year is aimed at talented students who have experienced disadvantage in their education and have not had the opportunity to realise their potential – including students who have experienced the care system, estrangement from parents and low levels of household income.
The programme offers a fully funded route to undergraduate study at Cambridge for eligible students who demonstrate the academic potential to succeed in a degree in the arts, humanities, or social sciences. Forty-seven students joined the first cohort, of whom 39 successfully completed the course and 31 are now Cambridge undergraduates.
Cambridge Maths School welcomes first students
Teenagers from across the East of England began their A-level studies at the new Cambridge Maths School, a specialist sixth form created by the Eastern Learning Alliance, in collaboration with the University of Cambridge.
The state-funded School focuses on pioneering learning and increasing diversity in the field of mathematics. It joins a nationwide network of maths schools, one for every region of England, announced by the UK Government.
The School offers 16 to 19-year-olds with an exceptional aptitude and passion for maths-related subjects a unique environment in which to learn, and an innovative curriculum that will include talks from Cambridge lecturers.
Cambridge Enterprise's year
Cambridge Enterprise Limited (Cambridge Enterprise) is the University’s innovation arm, providing the resources, expertise and networks needed to translate Cambridge research into life-changing outcomes with world-changing impact. It plays a vital role in activating and enhancing the globally-recognised Cambridge innovation ecosystem.
Last year was another successful year for Cambridge Enterprise, supporting over 1,000 academics, researchers, staff and students in the development and licensing of technologies, academic consultancy services and venture creation. Consultancy services supported over 400 University members, building strong relationships with industry and extending the reach of Cambridge expertise. The Cambridge Enterprise Ventures team invested £6.5m into 37 companies, including 25 new spinouts and start-ups.
Enabling and investing in companies that tackle the sustainability crisis is a core goal. Since 2020, £7m has been invested in such companies across 28 investments. This portfolio now includes 15 companies delivering a growing range of critical solutions, from battery technologies, carbon reduction, new materials, semiconductors and beyond.
Cambridge is recognised among UK universities for its culture of fostering and enabling university entrepreneurship. To further support this, Cambridge Enterprise has developed additional innovation services for the University, making it easier than ever to create new businesses. Founders at the University of Cambridge, an initiative to support new founders and to help new companies scale rapidly by connecting them to capital, mentoring and an acceleration programme, completed its inaugural START cohort, with further programmes planned. The Technology Investment Fund, established to de-risk and accelerate technologies to market, has committed to invest over £1.5m across 15 projects in its first 9 months, covering a range of areas including supercharged cancer immunotherapy, novel drug delivery devices and transformative plastic waste handling processes. On behalf of the University Enterprise Network, Cambridge Enterprise initiated and now delivers IE Cambridge, a gateway and easy navigation aid to the wealth of innovation and entrepreneurship support at Cambridge.
In partnership with the University and Cambridge Innovation Capital, Cambridge Enterprise is leading Innovate Cambridge, an ambitious initiative defining and delivering an inclusive innovation future for the Cambridge ecosystem. In October 2023, the Innovate Cambridge strategy was unveiled at an innovation summit with over 400 leaders in attendance.
Echion Technologies
Echion Technologies, the world’s leading supplier of niobium-based anode materials, has entered the market with its next-generation XNO® battery technology at scale.
Spinning-out from the University's Department of Engineering in 2017, Echion Technologies has devised, tested, and patented a product line of niobium-based anode materials, XNO®. XNO® enables lithium-ion batteries to fast charge safely in less than 10 minutes whilst maintaining high energy density and a cycle life of more than 10,000 cycles. This combination of performances is well suited to applications that demand the highest up-time, lowest total cost of ownership and highest safety. It uniquely positions XNO® as a key technology to achieve global decarbonisation through widespread electrification of commercial and industrial sectors.
Cambridge Enterprise has supported the company and its co-founders Jean de la Verpilliere and Dr Alex Groombridge since its earliest stages. As one of the first investments in our growing sustainability portfolio, Cambridge Enterprise Ventures has participated in all rounds from pre-seed to its most recent £29 million Series B round in June 2024.
Cambridge University Press & Assessment's year
- Cambridge University Press & Assessment serves over 100 million learners across 170 countries
- The Press & Assessment has 80 offices around the world
- 64% of Cambridge academic research journals are now published open access
- The Press & Assessment group awarded more than 11 million grades globally in exams such as GCSEs, IGCSEs, Cambridge Technicals, Cambridge Nationals, AS, A-levels, and the English language qualification, IELTS
- The Cambridge Dictionary is the number one dictionary website in the world
- The Cambridge IGCSE is the world’s most popular international qualification for 14 to 16-year-olds
Cambridge University Press & Assessment continued to grow its global impact across education, assessment and academic publishing, reaching more than 100 million learners worldwide.
Combining excellence in academic research and pedagogy, the Press & Assessment works to make high quality education, exams, and scholarly work available in more than 170 countries.
The Press & Assessment’s financial success – generating more than £1 billion in revenue this year – is reinvested into progressing the Cambridge mission: to contribute to society through the pursuit of education, learning and research at the highest international levels of excellence.
English
The Press & Assessment’s English group is a leading provider of English language education and assessment across schools, higher education, adult and migration contexts. This year, a total of 7 million assessments were taken and close to 28,000 organisations worldwide now recognise our English exams.
The group made particular progress in developing more flexible digital and blended-learning approaches, including through Cambridge English Qualifications Digital, which launched in March 2024.
International education
The International Education group delivers materials, resources and services to teachers and learners, and is the world’s largest provider of international education programmes and qualifications for 5- to 19-year-olds. The group reported significant growth this year, focusing on building the world’s most trusted teaching, learning and assessment community. The Cambridge IGCSE is the world’s most popular international qualification for 14 to 16-year-olds.
The 2024 June exam series was the largest ever run in terms of entries, enabling over one million students to progress. Cambridge successfully delivered assessments across 6 different time zones in 160 countries. The group’s community of more than 10,000 international schools continues to grow at pace.
Through the Partnership for Education, the Press & Assessment offers education reform across curriculum, assessment, learning and teacher materials. The Partnership for Education’s work supporting policymakers to lead impactful tech transformations in education systems across the world was a finalist in the Transformational Impact category of the 2024 Bett Awards.
UK education
The UK Education group operates OCR (Oxford, Cambridge, and RSA Examinations) – a leading UK awarding body which provides a wide range of general and vocational qualifications to help students achieve their full potential. It also incorporates the Centre for Evaluation and Monitoring, which offers formative assessments for children of all ages, from early years to post 16.
This year, OCR successfully delivered A levels, GCSEs, Cambridge Technicals and Cambridge Nationals for hundreds of thousands of students. The group advanced efforts to deliver outstanding customer service, innovating for students and teachers, and leading reform in the sector. Surveys show OCR is the highest rated exam board for customer support in England. Work to prepare exams for the future continued this year with further trials and analysis of digital assessment, in preparation for OCR’s development of a fully digitally assessed GCSE in Computer Science.
Academic
The Academic group creates university-level research and teaching materials, publishes more than 400 peer-reviewed academic journals, thousands of books, and monographs. Online growth continues apace, with 125 million downloads of scholarly research, including book chapters and research papers.
The innovative online Cambridge Elements programme, which combines the best features of academic books and journals, continues to grow. The 1,000th in the series, Great Gatsby and the Global South: Intergenerational Mobility, Income Inequality, and Development, was published in October 2023.
Cambridge University Press published over 1,500 new books last year on a wide range of topics, many garnering awards and critical acclaim, such as Byron: A Life in Ten Letters and Resilience: The Science of Mastering Life’s Greatest Challenges. The majority of papers in the 400 Cambridge-published research journals are now published open access. The group continues to explore the future of open access transformation, spotlighting equity issues and engaging closely with its communities.
People and planet
The Press & Assessment offers resources and expertise in teaching and learning for nature, the environment and climate in partnership with students, teachers, and education ministries. Climate education equips young people with the knowledge and skills to understand the complexities of climate change and encourages them to become active participants in tackling this global challenge.
The Press & Assessment’s sustainability framework is an integrated part of its overall organisational strategy, which aims to reduce carbon emissions, cut the use of resources, reduce waste, source sustainably and create a more sustainable supply chain. Since 2018–19 it has reduced its energy-related emissions by 35%.
The Press & Assessment is continually working to ensure it reflects the more than 100 million people it serves already around the world and the many more it wants to reach. In December 2023, the organisation set out its position on equality, diversity, inclusion and belonging, and will continue to assess its impact.
