Cambridge, Europe’s Most Successful Tech Cluster
A recent study by Silicon Valley Comes to the UK (SVC2UK) has revealed that Cambridge is Europe’s most successful technology cluster, having produced ten companies valued at more than $1 billion, and two valued at more than $10 billion. In total, Cambridge has over 1,525 high-tech companies, employing more than 53,000 people. In 2011, these companies had a combined turnover of over £11.8bn.
With SCV2UK research revealing that only half the number of companies scale-up in the UK compared to the US, Cambridge has led the way in creating and scaling high-tech companies. Two companies with market capitalisation of over $10bn, Arm and Autonomy, have been built in Cambridge, along with a further ten with market cap of over $1bn – Abcam, AVEVA, CAT, Chiroscience, CSR, Domino, Ionica, Marshall, Solexa, and Virata. In total at least £50bn of market capitalisation has been generated by the Cambridge cluster.
Despite continuing economic uncertainty in the UK, the top 50 companies in Cambridge have hired 5,901 people in the past year, an increase of 23.2% year-on-year, and have grown their revenues by £1.3bn, an increase of 17.6%. Gross Valued Added to the economy per job is £45k, compared to London’s £34.2k (2009). The unemployment rate in Cambridge is 2.1%; in contrast, the unemployment rate for the UK is 7.8%.
Data for the study was provided by organisations including Duedil, Linkedin, the University of Cambridge, and leading Cambridge trade bodies. As well as being the official data providers for the Cambridge Cluster Map, we created an infographic using data collected on the Cambridge technology cluster.
- Cambridge has over 1,525 high-tech companies, employing more than 53,000 people.
- That’s enough people to stretch hand-in-hand from Silicon Roundabout to Cambridge.
- In 2011, these companies had a combined turnover of over £11.8bn.
- 12 billion dollar companies have been created in the past 15 years in Cambridge.
- In total, at least £50bn of market capitalisation has been generated by the Cambridge cluster.
- The top 50 companies have hired 5901 people in the past year, an increase of 23.2%, and have grown their revenues by £ 1.3bn, and increase of 17.6%.
- Gross Valued Added to the economy per job is £45k, compared to London’s £34.2k (2009).
- Unemployment in Cambridge is 2.1%, compared to UK average of 7.8%.
Silicon Valley comes to the UK is a not-for profit series of industry supported events led by business leaders, investors and serial entrepreneurs and run by students. It’s designed to improve the ecosystem for entrepreneurship in the UK, Europe and beyond and drive sustainable growth.
To see the Cambridge cluster mapped out, head to the Cambridge Cluster Map, created by Trampoline Systems.
For more information, or if you would like to republish this infographic, please contact andrew[at]duedil.com.