Venture capital firm Cambridge Innovation Capital (CIC) is committing at least £100m to invest in spinouts from the University of Cambridge.
The funding from the investor, which targets the UK’s highest-potential deep tech and life sciences companies, will seek to take advantage of the commercial potential in science and technology innovation developed by Cambridge researchers.
This announcement follows a series of initiatives from the university designed to support entrepreneurial academics, including plans for a new innovation hub in central Cambridge and a Technology Investment Fund known as TIF.
To coincide with the funding commitment, CIC is launching an Entrepreneur in Residence (EIR) programme in partnership with the university to support academic founders as they begin to build a company.
“This expansion of CIC’s long-standing partnership with the University of Cambridge […] will help support the UK’s economic growth by developing the next generation of world-class companies,” said CIC’s managing partner Andrew Williamson (pictured).
The EIR programme aims to increase the number of quality spinouts and accelerate the path towards viable commercialisation of the technology.
CIC is committing at least £100m as part of the launch of Fund III, its latest £250m early-stage venture fund focused on the Cambridge ecosystem.
Companies created within the EIR programme can access the new funding to support development from inception through proof-of-concept to early-stage growth.
Dr Diarmuid O’Brien, pro-vice-chancellor for innovation at the University of Cambridge, said: “In 2024, the University of Cambridge created more spinout companies than any other university.
“We are determined to do even more, and faster, through initiatives such as the new EIR programme and by attracting investment into our spinout companies working with partners like Cambridge Innovation Capital.”
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