Cambridge receives £15 million government funding to support Innovation Hub and Oxford-Cambridge growth
The Cambridge Innovation Hub will receive at least £15 million in government funding to support the city’s position as a global leader in innovation.
The Hub will support entrepreneurs, investors, corporates and researchers at a central Cambridge site, aiming to provide the UK’s answer to Boston’s Lab Central.
The new facility will support science start-ups, enabling them to compete on a world stage.
“Cambridge is one of the world's most fertile grounds for innovation to take root, and blossom into opportunities for investment, job creation, and progress in fields ranging from life sciences to deep tech,” comments Science Minister and Oxford-Cambridge Innovation Champion, Lord Vallance.
“As impressive as these figures are, there is still more potential here for us to unleash. This is precisely why we are backing the Cambridge Innovation Hub, as part of our programme of work across Government to boost the entire Oxford to Cambridge Growth Corridor, and fulfil its promise as an economic engine the whole nation benefits from.”
Cambridge University has seen almost 80 percent growth in innovation over the past ten years, growing from 473 active companies in 2015 to 848 in 2025. Investment in Cambridge University spinouts has increased from £46 million in 2015 to £879 million in 2024.
Professor Andy Neely OBE, Chair of Innovate Cambridge, adds: “Cambridge’s science and innovation ecosystem is one of the UK’s greatest economic assets. The data shows that the world is increasingly looking to Cambridge to find the breakthrough ideas that can change lives and drive global progress.”
