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September 2024
UKTN surveyed Oxford and Cambridge tech ecosystem stakeholders to explore their views on strengths, challenges, and opportunities.
Life sciences is considered the strongest sector in the region, underpinned by its world-class universities which support groundbreaking research and a culture of entrepreneurship.
Oxford and Cambridge’s life sciences ecosystem, driven by a deep pool of academic talent and a history of success in biotech, is exemplified by firms such as AstraZeneca, CMR Surgical and Oxford Nanopore Technologies.
The cities are also centres of excellence in AI and quantum technologies, benefiting from strong foundational quality in computer science and mathematics, as seen in companies like Oxa, Mind Foundry, Quantinuum and Oxford Ionics.
Semiconductors and climate tech were also cited as strong regional sectors.
Plans to position Cambridge and Oxford as UK centers for growth and innovation are at risk of stalling due to inadequate infrastructure, warned a group of leading academics, developers, and tech business leaders earlier this year.
Infrastructure also emerged as a key theme in the survey, with tech leaders and workers highlighting the need for significant investment in transport and housing to make Cambridge more accessible and to support both established and scaling businesses.
One respondent noted: “Infrastructure should be developed to enhance operational efficiency and cost competitiveness. We need a more comprehensive ecosystem—while we have strengths in academia and various tech sectors, there’s a gap in manufacturing, materials, and channel companies.”
Another commented: “Public transport in Cambridge is inadequate, impacting office location decisions. Additionally, there’s a shortage of next-generation talent within the ecosystem.”
The previous government announced plans last year to build a new science quarter in Cambridge, including 150,000 new houses. However, it has been acknowledged that infrastructure constraints, such as a lack of water supply, must be addressed before construction can proceed.
A growing concern for tech businesses in the region is the availability of lab and office space, the most common challenge cited in the survey. As a global hub for biotech research, the demand for advanced workspaces is high and in recent years has been outpacing the supply. Commercial property company Bidwells noted this shortage in 2022 when it published research that found the availability at the time was close to zero despite surging demand1. Further research in 2024 found an 850,000 sq ft shortfall of lab space in Cambridge.
Hiring was another commonly cited challenge. Though the world-class research institutions in the region support a strong talent pool, they also create a fiercely competitive hiring environment and provide no guarantees that graduates in the area will continue to live and work in the cities. Other challenges mentioned include networking, securing funding and digital connectivity.
Keith Breavington,
Oxford & Reading Tech Sector Relationship Manager, Lloyds Bank
Anything that brings people together is key to future growth in Oxford, or anywhere for that matter. I am always impressed by how people in one specialism can complement, improve or unlock the potential of others. This is something I see all the time across Oxford.
In a survey of 42 tech stakeholders, 95.2% said they would recommend Cambridge as a location for new tech businesses. Most respondents (85%) have experienced business advantages in Cambridge, though 57% also face challenges. About 73% believe Cambridge has become more attractive for tech startups over the past five years. While 88% anticipate rapid growth in Cambridge’s tech sector, only 50% feel the ecosystem receives adequate international recognition. Local government support is viewed as insufficient by 84% of respondents, and 81% believe the UK government does not provide enough support for Cambridge tech businesses.
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