The Rise of Cambridge Tech

Produced in association with Founders at the University of Cambridge, this report dives into the numbers of one of the most important ecosystems for deep tech.

Key findings

• Cambridge's funded startups are worth $222 billion combined, 18% of the value of UK tech and second only to London.
• Cambridge counts 82.2 unicorns and $1B exits per million inhabitants, second among the global hubs ranked, behind the Bay Area's 84.7.
• Cambridge startups raised $2.3B in VC in 2024, almost double 2023 and the second-highest year on record after 2021's $2.5B.
• Cambridge ranks third in Europe for deep tech VC since 2024, behind London's $3.8B and Paris's $2.6B, and first among European hubs per capita.
• Cambridge alumni have founded 2,600 VC-backed startups, more than any other European university and ahead of Oxford's 2,100.