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 10 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 £45,000, 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.
Official data providers for the Cambridge Cluster Map, Duedil, created an infographic (above) 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 £45,000, compared to London’s £34.2k (2009).
- Unemployment in Cambridge is 2.1%, compared to UK average of 7.8%.
About SVC2UK
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.
About Duedil
Launched in April 2011, Duedil is the largest source of free private company information in the UK and Ireland. Duedil was founded by entrepreneur Damian Kimmelman in order to increase trust and transparency in business by harnessing the power of company information. Duedil is headquartered in London, UK, and is backed by Passion Capital, Jonty Hurwitz, Federico Pirzio-Biroli, Sherry Coutu and Tom Hulme.
*******
For more information, contact:
Damian Kimmelman, CEO, Duedil
+447712778887
Andrew Connolly, Press Officer, Duedil
+447747425001
http://www.duedil.com/
http://www.svc2uk.com/
http://www.camclustermap.com/
___________________________________