Brain gain milestone as Cambridge Enterprise drives 41 University investments in a year
The barnstorming performance is recorded in The Cambridge Enterprise Annual Review 2024 just published.
It underlines how Cambridge Enterprise’s suite of innovation activities is accelerating the translation of University of Cambridge research into societal benefits and empowering researchers to achieve global impact.
The organisation distributed £12.6 million of returns to the University, its departments and Principal Investigators that will be reinvested into its ecosystem.
In the year, Cambridge Enterprise supported:-
- 2,580 researchers
- 474 academic consultancy agreements
- 469 patent applications
- Approval of 778 commercial and research licences
- The formation of 25 new companies
2024 marked a milestone with 41 approved Cambridge Enterprise Ventures investments, representing a substantial breakthrough. The Technology Investment Fund committed over £2m investment across 20 projects covering the breadth of disciplines in the University during its first nine months, de-risking and adding value to technologies and supporting the accelerated translation of university research in preparation for future licensing or spinout.
The report in which the successes are revealed highlights the launch of START 1.0 a pre-seed accelerator programme organised and hosted by Founders at the University of Cambridge.
The first cohort of the initiative included 11 companies, each working to address global challenges ranging from climate change to healthcare with seven securing further funding within six months.
Building on this momentum, Founders has introduced SYNC, a new co-founder matching programme that will support, accelerate and scale new founders and companies from the University.
IE Cambridge continued to establish itself as a central hub for all the University’s innovation and entrepreneurship activities, delivering and signposting a range of events, activities and resources to connect, guide and inspire.
The first Innovation and Entrepreneurship at the University of Cambridge report was published, showcasing the University as a powerhouse of entrepreneurship.
In partnership with Cambridge Innovation Capital and the University of Cambridge, Cambridge Enterprise continued to lead an inclusive, ambitious innovation roadmap for Cambridge, and to encourage collaboration and action to help Cambridge realise its potential as a globally leading cluster.
In October 2024, a transformative 10-year plan to supercharge impact was unveiled at the Innovate Cambridge Summit, attended by over 400 leaders.
To back the very best early-stage start-ups from the Cambridge ecosystem, the University of Cambridge Enterprise Fund X was launched. It is managed by Parkwalk Advisors in conjunction with Cambridge Enterprise.
Almost £27m has been raised across Funds I–IX, which have invested in 60 spinout companies that have collectively raised over £550 million of syndicated capital and are valued at more than £1 billion.
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.”
Ajay Chowdhury, Chair of Cambridge Enterprise 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.”
Dr Diarmuid O’Brien, the University’s Pro-Vice-Chancellor for Innovation, adds: “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.”
Impact stories from University of Cambridge
From revolutionary medical devices to sustainable technologies, the impact stories from the spinouts companies supported exemplify the power of collaboration and innovation at the University of Cambridge, showcasing how their work addresses global challenges and drives positive change.
BioTryp Therapeutics has developed a class of small molecules which inhibit biofilm formation, nipping an infection in the bud. By targeting bacteria’s key defence mechanism, BioTryp’s technology has the potential to revolutionise how we treat infection, providing a much needed alternative to traditional antibiotic treatments.
Ultra-Fast Current Shunt (UFCS), a device that helps increase accuracy, efficiency, and sustainability in current measurement devices over ultra-fast switching times allows users to see signals that were previously undetectable. The UFCS technology can improve the performance of many devices we rely on in our daily lives, from cars to induction cookers.
52North develops cutting-edge medical devices to enhance patient care, particularly for those living with cancer. One such device is Neutrocheck®, a low-cost, finger-prick test which gives quick, reliable results at home, enabling cancer patients to check their risk of neutropenic sepsis – a dangerous side effect of chemotherapy – without going to hospital.
Cambridge Electric Cement has developed a technology for recycling cement from demolition waste, making zero-carbon cement a possibility. This cement can match the performance of Portland cement (the cement most commonly used to make concrete) without the environmental impact.
RoboK is enhancing efficiency with AI-driven vision technology. Among the innovations that their technology will bring, there is constant incident monitoring and identification of potential safety breaches by using AI-driven operational insights and integration with other operational data which will make industrial workplaces safer and high-performing.
VOI Global is based on the VOI Methodology, a practical tool for resolving real-world conflicts in fragile communities, which promotes social cohesion and local development, leading to significant improvements in well-being among participants, and has positively affected over 10,000 people worldwide.