04/07/2023
Cambridge has been synonymous with tradition and academia for centuries, so the emergence of science and tech is shocking but not surprising given its roots in discovery and entrepreneurism.
Its world-class endeavours in science and innovation across the years – both at their public institutions, as well as in the private business sector – has made Cambridge a flourishing tech hub.
An optimal combination of a high number of unicorns, a high average salary for tech jobs, and better venture capital rounds in the region, makes Cambridge the best place in the UK to be a person in tech today.
What is a 'unicorn'?
A ‘unicorn’ is a term coined in the USA for a private company that is valued at $1billion.
Companies such as Revolut, Gousto and Gymshark are some of the 49 unicorns based in the UK. Although most unicorns are based within the financial sector, the UK boasts successes in gaming, food and drink, and property.
High risk, high reward: it is often believed that investing in unicorns is a big risk due to their infancy. However, doing so has often proven to be very profitable for those who dare to buy in.
The city has drawn record-breaking amounts of investment over past few years with over half of that money coming from the US. This international draw gives Cambridge prosperity for future plans. And with London having the highest amount of business failures in the UK, Cambridge is the best bet for your money.
If you haven’t heard of the Cambridge’s burgeoning industry, you’re not alone. The marketing of the so-called ‘Silicon Fen’ is poor, by the admission of its business owners, but the foundations of those businesses are strong. With its connections to Cambridge University and its high amount of angel investors, Cambridge is the perfect place to start a business.
You’ll have to act quick too. Office space in Cambridge generated over £1bn for the city in 2021, putting them in competition with Birmingham, Edinburgh and Manchester for office space demand.
