The Cambridge Innovation Hub is set to receive at least £15 million in government funding to support the city’s position in global innovation. The Hub will assist entrepreneurs, investors, corporations, and researchers at a central Cambridge location, aiming to be the United Kingdom’s equivalent to Boston’s Lab Central.
The new facility will support science start-ups, allowing them to compete internationally.
Science Minister and Oxford-Cambridge Innovation Champion, Lord Vallance, commented: “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.
“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 experienced nearly 80 per cent growth in innovation over the past ten years, increasing from 473 active companies in 2015 to 848 in 2025. Investment in Cambridge University spinouts has risen from £46 million in 2015 to £879 million in 2024.
Professor Andy Neely OBE, Chair of Innovate Cambridge, added: “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.”
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