Enterprise capital agency Cambridge Innovation Capital (CIC) is committing at the least £100m to spend money on spinouts from the College of Cambridge.
The funding from the investor, which targets the UK’s highest-potential deep tech and life sciences corporations, will search to benefit from the industrial potential in science and expertise innovation developed by Cambridge researchers.
This announcement follows a collection of initiatives from the college designed to assist entrepreneurial teachers, together with plans for a brand new innovation hub in central Cambridge and a Expertise Funding Fund referred to as TIF.
To coincide with the funding dedication, CIC is launching an Entrepreneur in Residence (EIR) programme in partnership with the college to assist tutorial founders as they start to construct an organization.
“This enlargement of CIC’s long-standing partnership with the College of Cambridge […] will assist assist the UK’s financial progress by creating the subsequent technology of world-class corporations,” stated CIC’s managing companion Andrew Williamson (pictured).
The EIR programme goals to extend the variety of high quality spinouts and speed up the trail in direction of viable commercialisation of the expertise.
CIC is committing at the least £100m as a part of the launch of Fund III, its newest £250m early-stage enterprise fund targeted on the Cambridge ecosystem.
Firms created inside the EIR programme can entry the brand new funding to assist growth from inception by means of proof-of-concept to early-stage progress.
Dr Diarmuid O’Brien, pro-vice-chancellor for innovation on the College of Cambridge, stated: “In 2024, the College of Cambridge created extra spinout corporations than another college.
“We’re decided to do much more, and sooner, by means of initiatives equivalent to the brand new EIR programme and by attracting funding into our spinout corporations working with companions like Cambridge Innovation Capital.”
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