University of Cambridge spinoffs receive £100M investment from Cambridge Innovation Capital
The University of Cambridge and Cambridge Innovation Capital (CIC) have joined forces to launch a new Entrepreneur in Residence (EIR) program. This initiative aims to identify intellectual property (IP) with commercial potential and support academic founders in building companies from that IP [1][4][5].
The EIR program is part of CIC's long-standing partnership with the University of Cambridge and is designed to increase the number of quality spinouts from the university and accelerate the path to viable commercialization of university-developed deep tech and life sciences innovations [3].
The program matches experienced industry executives with academics and high-potential IP. By maintaining a rolling cohort of up to six EIRs, the program supports company creation and growth from inception through proof-of-concept to early-stage development [1][4][5].
The scope of the program includes enabling access to at least £100 million in funding committed by CIC to invest in spinouts, alongside other university initiatives such as the Founders program and the Technology Investment Fund (TIF) [1][2][4][5]. The TIF, a new proof of concept fund launched by the University of Cambridge, aims to de-risk world-class research and enable faster commercialisation.
The University of Cambridge generates £23 billion in economic interest linked to research and commercialisation each year [6]. With the new EIR program, the university is determined to do more and faster, supporting the UK's economic growth.
The University of Cambridge has plans for four million sq. ft of high-tech development at Cambridge West and a new Innovation Hub in central Cambridge to support spinouts, startups, and entrepreneurs [7].
CIC's commitment of at least £100 million is part of the launch of Fund III, its latest £250 million early-stage venture fund focused on the Cambridge ecosystem. Companies created within the EIR programme can access this new funding for support from inception through proof-of-concept to early-stage growth [1][4][5].
The University of Cambridge has also allocated an additional £30 million capital to the £100 million AUM Cambridge Enterprise Ventures (CEV) fund to support increasing university investment in spinouts [2].
Notably, the University of Cambridge has produced the most unicorns of any European ecosystem [6]. The new EIR program is a strategic move to help develop the next generation of world-class companies and maintain Cambridge's position as a global hub for innovation and entrepreneurship.
[1] - Cambridge Innovation Capital [2] - University of Cambridge [3] - Cambridge News [4] - Business Wire [5] - TechCrunch [6] - Tech Nation [7] - Cambridge Independent
- The EIR program, supported by Cambridge Innovation Capital (CIC) and the University of Cambridge, is specifically focused on identifying and accelerating the commercialization of deep tech and life sciences innovations, aiming to build companies from university-developed intellectual property (IP).
- As part of the new Entrepreneur in Residence (EIR) program, experienced industry executives will work with academics and high-potential IP to assist in the growth of company creation and development, with access to at least £100 million in funding from CIC for spinouts, as well as other university initiatives like the TIF, which aims to de-risk research and enable faster commercialization.
