In its 2024 Annual Review, Cambridge Enterprise, the University’s innovation arm, reports significant growth across a wide range of activities supporting the translation of University research into societal benefit and helping Cambridge realise its potential as a globally leading cluster.
In its 2024 Annual Review, Cambridge Enterprise, the University’s innovation arm, reports significant growth across a wide range of activities supporting the translation of University research into societal benefit and helping Cambridge realise its potential as a globally leading cluster.
Cambridge Enterprise is crucial in translating the University’s research into positive social and economic change.
Dr Diarmuid O’Brien, Pro-Vice-Chancellor for Innovation, University of Cambridge
25 new spinouts were formed in 2023-24, taking Cambridge Enterprise’s total portfolio to 174 companies. In the same period, it has helped with the submission of more than 450 patent applications and more than 750 approvals for commercial and research licences.
New initiatives designed to further boost the number of high-potential spinouts emerging from the University, include the Technology Investment Fund (TIF) which during its first 9 months has invested more than £2 million across 20 projects.
Founders at the University of Cambridge, a Cambridge Enterprise initiative to support University entrepreneurs, launched 2 new programmes, START 1.0 and SYNC in 2023-24. START 1.0 is an accelerator programme for very early-stage founders. Its first cohort included 11 companies, working to address global challenges ranging from climate change to healthcare with 7 securing further funding within 6 months. SYNC is a new co-founder matching programme that will support, accelerate and scale new founders and companies from the University.
Dr Jim Glasheen, Chief Executive, Cambridge Enterprise, said: “Cambridge Enterprise remains committed to ensuring the innovations that spring from the University achieve their broader positive impact on society, and to our vital role in activating and enhancing the globally recognised Cambridge innovation ecosystem.”
Dr Diarmuid O’Brien, the University’s Pro-Vice-Chancellor for Innovation, added: “Cambridge Enterprise is crucial in translating the University’s research into positive social and economic change. From the full spectrum of innovation services that it provides for the University to its critical role in enabling transformational impact from University research, Cambridge Enterprise sets the standard for university innovation.”
Reflecting on the success of Cambridge Enterprise's innovation activities, its Chair, Ajay Chowdhury, said: “Cambridge Enterprise is in an incredibly strong position, with consultancy and research tools revenues at an all-time high, new initiatives to accelerate innovation and spinout formation, record levels of venture investment and great achievements for our portfolio companies.”
In partnership with the University and Cambridge Innovation Capital, Cambridge Enterprise leads Innovate Cambridge, an inclusive, ambitious innovation roadmap for Cambridge to encourage collaboration and action to help Cambridge realise its potential as a globally leading cluster. In October 2024, a ten-year plan for the city and region was unveiled at the Innovate Cambridge Summit, attended by over 400 leaders.
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