Cambridge 探花直播’s economic impact
探花直播 探花直播 contributes nearly £30 billion to the UK economy and supports more than 86,000 jobs across the UK.
A by London Economics has measured the 探花直播 of Cambridge’s impact on the UK economy in 2020-21.
London Economics, one of Europe’s leading specialist economics and policy consultancies, was commissioned to assess the 探花直播’s economic impact through a range of activities.
探花直播total impact, estimated at £29.8 billion, includes:
- £23.1 billion – from the 探花直播’s research and knowledge exchange activities (including commercial companies spun out from, or closely associated with, the 探花直播 and other commercial activity carried out at the 探花直播)
- £4.69 billion – from the impact generated by the spending of the 探花直播 and its colleges
- £716 million – from the 探花直播’s educational exports
- £693 million – from the 探花直播’s teaching and learning activities
- £587 million – from the impact of tourism associated with the 探花直播
探花直播report estimated that the 探花直播 supports more than 86,000 jobs across the UK, including 52,000 in the East of England, and contributes over £13 billion in gross value added (GVA).
For every £1 the 探花直播 spends, it creates £11.70 of economic impact.
For every £1 million of publicly funded research income the 探花直播 receives, it generates £12.65 million in economic impact across the UK.
London Economics also carried out a comparison of the costs and benefits associated with almost 600 government regulatory impact assessments and found that very few government interventions bring higher economic benefits than investment in the 探花直播 of Cambridge.
Total economic impact of the 探花直播 of Cambridge’s activities in 2020-21 by region (where possible)
Note: Economic impact from knowledge exchange, educational exports, operating and capital expenditure, and tourism activities disaggregated by region, and presented in terms of GVA and FTE employment. These strands make up approximately £24,108 million (81%) of the 探花直播 of Cambridge’s total impact of £29,801 million. Monetary estimates are presented in 2020-21 prices, discounted to reflect net present values (where applicable), rounded to the nearest £1 million, and may not add up precisely to the totals indicated. Employment estimates are rounded to the nearest 5, and again may not add up precisely to the totals indicated.
Source: London Economics’ analysis.
“This report demonstrates how international excellence coupled with a deliberate strategy of investing in innovation creates jobs and significant growth for the UK economy.
An early commitment to Horizon Europe, the EU research funding body which provides billions of pounds in research support for academics across Europe, is essential to underpinning future success.
Horizon Europe provides not only the stability of funding required to make long-term research plans but also access to vital international networks and collaborations.”
Dr Anthony Freeling, Acting Vice-Chancellor
Dr Anthony Freeling reflects on the 探花直播’s impact and contributions to economic growth:
探花直播mission of the 探花直播 of Cambridge is to contribute to society through the pursuit of education, learning and research at the highest international levels of excellence.
In pursuing this mission, the 探花直播 rightly focuses on academic excellence. We educate some of the brightest minds from the United Kingdom and from around the world. Cambridge has been the birthplace of many of the world’s greatest intellectual achievements, and has nurtured many of the world’s leading scientists and scholars – from Isaac Newton to Charles Darwin to Jocelyn Bell Burnell; and from Bertrand Russell to John Maynard Keynes to Mary Beard. Our 121 Nobel Prize Winners attest to this record.
There is an aspect of the 探花直播’s contribution to society that remains to be fully told – the story of Cambridge’s economic contribution to the UK.
Alongside their social and cultural impact, Cambridge graduates and academics make a significant contribution to the British economy through research breakthroughs and entrepreneurial activities, as well as through the enhanced value and the skills they bring to their employment.
This report by London Economics is a comprehensive attempt to estimate the economic value that the 探花直播 of Cambridge brings to the UK.
Dr Anthony Freeling, Acting Vice-Chancellor
Dr Anthony Freeling, Acting Vice-Chancellor
探花直播 探花直播 of Cambridge’s activities have changed people’s lives for the better because we have been successful at getting research to market, and in doing so helped create significant economic growth both around Cambridge and across the UK. Some of the depth and breadth of this influence is illustrated on the 探花直播’s and [see below], which contain examples of economic, health, social, environmental and other research impact mapped to regions of the UK and around the world.
contributed to the UK economy, of which £23bn comes from research-related activities
full-time jobs supported across the UK, including 52,000 in the East of England
benefit-to-cost ratio of Cambridge’s economic impact compared with operational costs
Economic growth
Cambridge is the most successful cluster and local ecosystem in the UK. Just over £23 billion (78%) of our economic impact is generated by the companies spun out from – or closely associated with – the 探花直播, as well as research and commercial activities carried out at the 探花直播.
This includes the impact of 178 spinouts and 213 start-up companies that have connections to the 探花直播. It is the biggest impact of any university in the UK. Success is the result of long-term, strategic decisions that have established the 探花直播 at the heart of one of the world’s most successful innovation and technology clusters.
Growing the Cambridge ecosystem into one of the world’s leading innovation clusters did not happen by accident. It is the result of a culture of excellence, underpinned by a depth and breadth of teaching, research and innovation that connects the discovery of new knowledge with the expertise to turn these ideas into companies and organisations that change people’s lives.
探花直播 探花直播 has helped harness a winning combination of venture capital, government-supported capital investment and infrastructure funding (e.g. the 2016 Cambridge City Deal) through a very deliberate strategy of investing in innovation and commercialisation over past decades that includes:
- Trinity College establishing the UK’s first science park in 1970;
- An enlightened IP policy that encourages further investment;
- A culture that encourages innovation and entrepreneurship;
- 探花直播establishment of both a knowledge transfer and early investment arm, , and a follow-on investment arm, , which makes capital available at all stages of the investment journey from pre-seed to early scaling.
To build on this success, – founded by Cambridge Enterprise, Cambridge Innovation Capital and the 探花直播 – is joining with more than 100 partners, including AstraZeneca, Microsoft and Arm, to develop an ambitious and broad-ranging vision of innovation for the Greater Cambridge area. 探花直播goal is to accelerate progress, and for the Greater Cambridge ecosystem to accomplish in the next 10 years the same success as in the past 25 years.
Achieving this ambition requires action in three areas of policy: better infrastructure in the city and region including laboratory space, affordable housing and transport; better access to talented, skilled individuals from across the world; and better investment and access to capital. 探花直播 探花直播 and our partners across the UK will continue to work with the government to develop solutions in these areas and grow the economic impact of the 探花直播 alongside academic excellence.
Dr Anthony Freeling
Acting Vice-Chancellor
Explore Cambridge's impact using our interactive maps
Discover some of the ways that our research benefits the UK – locally, regionally and nationally
... and has a positive impact in all seven continents, covering more than 100 countries.
Published 20 March 2023
Infographics and imagery: Alison Fair
Animation: Jonathan Settle
Design: Louise Walsh
探花直播text in this work is licensed under a
