Cambridge Innovation Capital (CIC) is investing over £100 million in University of Cambridge spinouts. This funding aims to leverage the commercial potential in science and technology innovations from Cambridge researchers and aligns with recent university initiatives supporting entrepreneurial academics. These initiatives include a high-tech development at Cambridge West and a new Innovation Hub for spinouts and startups.
CIC is also introducing a new Entrepreneur in Residence (EIR) programme with the university to recognize IP potential for commercialization and support academic founders in company building. This programme will pair seasoned deep tech and life sciences executives with academics to enhance the number of quality spinouts and speed up technology commercialisation.
The EIR programme will maintain up to six ongoing EIRs to aid university spinouts. The University of Cambridge has also initiated the Founders programme for new company creation, the Technology Investment Fund for de-risking research, and added £30 million to the £100 million AUM Cambridge Enterprise Ventures fund to boost university investment in spinouts.
CIC’s commitment of £100 million is part of its latest Fund III, a £250 million early-stage venture fund centered on the Cambridge ecosystem, supporting early-stage growth from inception to proof-of-concept.
Andrew Williamson, CIC Managing Partner, highlighted the EIR programme’s role in providing £100 million access to Cambridge spinouts, aiming to foster UK’s economic growth through new companies.
Dr. Diarmuid O’Brien, Pro-Vice-Chancellor for Innovation at the University of Cambridge, emphasized the university’s leading position in creating spinouts and unicorns, expressing commitment to accelerating outcomes through initiatives like the EIR programme and partnering with Cambridge Innovation Capital.
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