Cambridge Cluster dominates UK Venture market

Library House and Grant Thornton have announced the publication of the 2004 Cambridge Cluster report. In its second year of publication, the report confirms that Cambridge-based technology companies, as a cluster, have attracted more investment than any other technology centre in the UK and Europe over the last 18 months. Furthermore, the study confirms that overall the Cambridge Cluster - a group of leading technology and innovation companies - has rebounded from the downturn in investment earlier and more strongly than the UK in general and the rest of Europe. The Cambridge Cluster report is the only study on the development and significance of Europe's leading technology cluster of its kind - no technology cluster, not even Silicon Valley, has ever been researched in this detail. Previous reports on the Cambridge Cluster have been based on statistical extrapolation or anecdotes and speculation. In the first half of 2004, the Cambridge Cluster secured more than 25% of the UK's venture capital investments and more than 8% of the European total by value. Average investment levels by round are between 57% and 100% higher in the Cambridge Cluster than in the rest of the UK and Europe. Moreover, the report concludes that whereas investment levels remained constant in the Cambridge Cluster (with the exception of the dip in 2003), total European investment decreased by approximately 80% over the last four years. The confidence of investors in the area has been underpinned by a number of strong exits, totalling more than $500m in the first 8 months of 2004 and by the return of the IPO, including Amino Communications and Cambridge Silicon Radio.

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