̽��ֱ�� of Cambridge - Nesta

Cambridge in the 2019 New Year honours list

plc32 — Fri, 28 Dec 2018 22:31:00 +0000

Professor David Klenerman, FRS was knighted for Services to Science and for the Development of High Speed DNA Sequencing Technology.

Professor Klenerman said: “I feel very humbled to be recognised in this way.”

Sir David is a professor of biophysical chemistry at the Department of Chemistry at the ̽��ֱ�� of Cambridge and a Fellow of Christ's College. He is best known for his contribution in the field of next-generation sequencing of DNA, which subsequently resulted in Solexa, a high-speed DNA sequencing company that he co-founded.

“I also want to acknowledge and sincerely thank the highly talented people who have worked with me over the years and without whom my research would simply not have been possible. In particular the development of Solexa sequencing was the result of a massive team effort.”

Klenerman was educated at the ̽��ֱ�� of Cambridge where he was an undergraduate student of Christ's College and received his Bachelor of Arts degree in 1982. He earned his Doctor of Philosophy degree in chemistry in 1986 as a postgraduate student of Churchill College.

Sir David has received a string of honours for his work, including a 2018 Royal Medal from the Royal Society for his outstanding contribution to applied sciences. He was elected as a Fellow of the Academy of Medical Sciences in 2015 and Fellow of the Royal Society in 2012.

Professor Madeleine Julia Atkins, who was first honoured as a CBE in 2011, has been promoted DBE for her Services to Higher Education.

Dame Madeleine, lately Chief Executive of the Higher Education Funding Council for England, has had a long and distinguished career in higher education, most recently providing outstanding leadership in ensuring a smooth transition between HEFCE and the new Office for Students and Research England. She has also been a Trustee and Board member for Nesta, and was until recently a Deputy Lieutenant in the West Midlands. She has been a Pro-Vice-Chancellor at Newcastle ̽��ֱ��, is a former Vice-Chancellor of Coventry ̽��ֱ��, and is now President of Lucy Cavendish College here at Cambridge ̽��ֱ��. She studied for a degree in law and history at Girton College and has a PhD from the ̽��ֱ�� of Nottingham.

Dame Madeleine said: “I am honoured to receive this award, which recognises the contribution of my former colleagues at HEFCE who worked so hard to make the transition to OfS and Research England both smooth and successful. I am delighted now to be bringing some of my experience in the higher education sector to support the students and Fellowship of Lucy Cavendish College”.

Professor John Frederick William Birney, FRS, the joint director, European Bioinformatics Institute was awarded a CBE For Services to Computational Genomics and to Leadership across the Life Sciences.

Professor Birney is Director of EMBL-EBI, Europe's flagship laboratory for the life sciences, and runs a small research group. He played a vital role in annotating the genome sequences of human, mouse, chicken and several other organisms. He led the analysis group for the ENCODE project, which is defining functional elements in the human genome. Birney’s main areas of research include functional genomics, assembly algorithms, statistical methods to analyse genomic information (in particular information associated with individual differences) and compression of sequence information.

Professor Birney, known as Ewan to his friends, family and colleagues, was educated at Eton, Oxford and St John’s College, Cambridge.

Dr Jennifer Mary Schooling, Director of the Centre for Smart Infrastructure and Construction (CSIC), ̽��ֱ�� of Cambridge was awarded an OBE For Services to Engineering and to Digital Construction.

Dr Schooling is a Fellow of Darwin College and has been the Director of CSIC since April 2013. CSIC focuses on how better data and information from a wide range of sensing systems can be used to improve our understanding of our infrastructure, leading to better design, construction and management practices. CSIC has strong collaborations with industry, developing and demonstrating innovations on real construction and infrastructure projects, and developing standards and guidance to enable implementation. Dr Schooling is also Chair of the Research Strategy Steering Group for the newly formed Centre for Digital Built Britain. Dr Schooling is founding Co-Editor-in-Chief of the Smart Infrastructure and Construction Proceedings journal (ICE). She recently served as a member of PAS185 smart cities security standard steering group and of ICE’s State of the Nation 2017 ‘Digital Transformation’ Steering Group. Prior to joining CSIC, Dr Schooling worked for Arup, leading the firm’s Research Business, and before that for Edwards Vacuum (then BOC Edwards) as a manager for New Product Introductions. She has a PhD from the ̽��ֱ�� of Cambridge.

Andrew Nairne, Director of Kettle’s Yard, was awarded an OBE for Services to Museums and the Arts. Kettle’s Yard is the ̽��ֱ�� of Cambridge’s modern and contemporary art gallery.

Andrew Nairne said: “I am delighted to receive this recognition following the hugely successful reopening of Kettle’s Yard in 2018: a magnificent team effort.”

“As Director of one of the eight ̽��ֱ�� of Cambridge Museums, I believe museums have a vital role to play in the life of both the ̽��ֱ�� and the community.”

̽��ֱ��Honours list, which dates back to around 1890, recognises notable services and contributions to Britain.

Members of collegiate Cambridge recognised for outstanding contributions to society in science, education, engineering and art

“I feel very humbled to be recognised in this way.”

Professor Sir David Klenerman

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UK online alternative finance market grows to £3.2 billion in 2015

sc604 — Wed, 17 Feb 2016 11:01:36 +0000

This is a significant increase in volume, but growth of the online alternative finance market is slowing down, with the annual growth in 2014/2015 being nearly half the 161% growth from 2013/14. Although the absolute year-on-year growth rate is slowing down, the report said, the alternative finance industry still recorded substantive expansion across almost all models.

̽��ֱ��report also highlights the rapid expansion of donations-based crowdfunding, the perceived risk of fraud and malpractice by the industry, and increasing institutionalisation – as around a quarter of P2P (peer-to-peer) loans are now funded by institutional investors, including traditional banks and government through organisations such as the British Business Bank.

Pushing Boundaries - 2015 UK Alternative Finance is jointly published by the Cambridge Centre for Alternative Finance at the ̽��ֱ�� of Cambridge and UK innovation foundation Nesta, in partnership with KPMG and with the support of CME Group Foundation. It is the latest in an annual series of reports from the ̽��ֱ�� of Cambridge Judge Business School and Nesta, which track the size and development of online alternative finance, such as P2P lending and crowdfunding, in the UK.

Key findings of the report, a survey of 94 crowdfunding and P2P lending platforms, include:

Increased share of the market for business finance: in 2015 it is estimated that online alternative finance platforms provided the equivalent of over 3% of all lending to SMEs (small and medium-sized enterprises) in the UK. For small businesses - those with a turnover of less than £1 million a year - P2P platforms provided an amount lending equivalent of 13% of all new bank loans.
Institutionalisation is taking off: 2015 saw increased involvement from institutional investors in the online alternative finance market. ̽��ֱ��report shows that 32% of loans in P2P consumer lending and 26% of P2P business lending were funded by institutional investors.
Donation-based crowdfunding is the fastest growing model: although starting from a relatively small base (£2 million), donation-based crowdfunding is the fastest growing model in the 2015 study, up by 500% to £12 million.
Real estate is the single most popular sector: in 2014/2015 the most popular sector for online alternative finance investments and loans was real estate, with the combined debt and equity-based funding for this sector reaching £700m in 2015.
̽��ֱ��equity market is growing fast: the second fastest growing area of the alternative finance market is equity-based crowdfunding, up by 295% - from £84 million raised in 2014, to £332m in 2015. Excluding real estate crowdfunding, in 2014/2015 the equity-based crowdfunding sector contributed to £245 million worth of venture financing in 2015 – equivalent to over 15% of total UK seed and venture equity investment.
̽��ֱ��industry is generally satisfied with current regulation: when asked what they thought of existing regulation, more than 90% of P2P lending and equity-based crowdfunding platforms stated that they thought the current level was appropriate.
̽��ֱ��biggest risk to market growth is fraud or malpractice: when asked what they saw as the biggest risk to the future growth of the market, 57% of P2P lending and equity-based crowdfunding platforms cited the potential collapse of one or more of the well-known industry player due to fraud or malpractice.

“ ̽��ֱ��substantive growth of alternative finance in the UK last year is not surprising, given that these new channels of finance are increasingly moving mainstream,” said Robert Wardrop, Executive Director of Cambridge Centre for Alternative Finance. “One of the key drivers underpinning this development is the growing institutionalisation of the sector. ̽��ֱ��Cambridge Centre for Alternative Finance is proud to shed light on this fascinating and dynamic industry, to help inform policymakers, regulators and the general public about how these areas of finance are increasingly becoming part of our everyday economic life.”

“2015 has seen another year of remarkable growth for Alternative Finance in the UK,” said Stian Westlake, Nesta’s Executive Director of Policy & Research. “Little more than a collection of plucky startups just six years ago, the sector now does £3.2 billion of business a year. As the sector grows and matures it is sure to face challenges - investors will be keen to see returns, and another financial crisis would certainly test the robustness of P2P lending.”

Warren Mead, Global co-lead of Fintech at KPMG, said: “After years of pushing boundaries, 2016 will be the year where ‘alternative’ financial options finally join the ranks of the mainstream. But while this evolution gives the industry the platform to grow, it also brings its own set of challenges. Being part of the financial establishment doesn’t sit well with its original social purpose. Incumbents are also playing catch up with their own digital investment, and are closing in on the disrupters’ lead. Meanwhile, platform failures within these growing networks are inevitable. So the question is, will the hard won enthusiasm for these platforms start to wane?”

̽��ֱ��report was led by Bryan Zhang, a Director of the Cambridge Centre for Alternative Finance, and Peter Baeck, Principal Researcher at Nesta. It has been supported in part by funding from audit, tax and advisory service KPMG and CME Group Foundation, the foundation affiliated with CME Group.

Originally published on the Cambridge Judge Business School website.

̽��ֱ��UK online alternative finance sector grew 84% in 2015, facilitating £3.2 billion in investments, loans and donations, according to a new report published today.

These areas of finance are increasingly becoming part of our everyday economic life.

Robert Wardrop

̽��ֱ��text in this work is licensed under a Creative Commons Attribution 4.0 International License. For image use please see separate credits above.

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Alternative finance market set to double in 2015

sc604 — Fri, 07 Nov 2014 09:10:33 +0000

A total of £1.74 billion will have been raised through alternative finance intermediaries – including crowdfunding, peer-to-peer lending and invoice trading – by the end of 2014, according to new research published today by the ̽��ֱ�� of Cambridge and Nesta, the UK’s innovation foundation.

Alternative finance covers a variety of new financing models which connect people seeking funds directly with funders, often through online platforms. ̽��ֱ��majority of these providers have been founded in the last five years. Regulation of parts of the industry was introduced by the Financial Conduct Authority (FCA) in April this year, and in October the Treasury launched a consultation on a proposal for an ISA for peer-to-peer lending.

In the first three quarters of 2014, alternative finance platforms facilitated loans, investments and donations worth £1.2 billion, with the amount predicted to reach £1.74 billion by the end of the year. ̽��ֱ��researchers predict the amount will reach £4.4 billion in 2015.

̽��ֱ��report shows:

Peer-to-peer business and consumer lending continued to dominate the market with £749 million and £547 million being lent through the models respectively in 2014.
Equity-based crowdfunding reached £84 million, up 201 per cent year on year.
̽��ֱ��alternative finance market has more than doubled in size year on year from £267 million in 2012 and £666 million in 2013, to £1.74 billion in 2014.

By the end of the year it is expected that the UK alternative finance market will have provided more than £1 billion in business finance to over 7,000 small and medium enterprises in the UK, the equivalent to 2.4 per cent of all bank lending to SMEs. In the last quarter, bank lending to small and medium-sized enterprises was down by £400 million, according to the Bank of England’s latest Trends in Lending report.

44 per cent of SMEs surveyed were familiar with at least one type of alternative finance, but just nine per cent had approached an alternative platform for finance.

Over half (58 per cent) of UK consumers surveyed were aware of a type of alternative finance, with more than one in seven (14 per cent) saying they had used an alternative finance platform to seek, lend or donate funds.

“2014 has been a phenomenal year for the industry and this record-breaking growth is set to continue into the next year and beyond,” said Bryan Zhang of the Department of Geography, one of the report’s co-authors. “By connecting people directly and offering more efficient, diverse and transparent ways to invest or raise funds, alternative finance is increasingly becoming a viable source of capital for individuals and businesses alike. Although there are challenges ahead, the future looks very promising for alternative finance.”

Liam Collins, another co-author on the report, said: “These findings shed light on a growing movement that is revolutionising banking, investing and giving by using technology to simplify the links between those who want to invest money and those who need it. With bank lending to SMEs down again this quarter, it’s no wonder that alternative finance is fast becoming an important source of funding for individuals, businesses and organisations who struggle to access finance elsewhere.

“ ̽��ֱ��UK is leading the way globally, and with significant potential for the market to expand it won’t be long before we see alternative finance moving into the mainstream.”

“ ̽��ֱ��UK alternative finance market is burgeoning and we need to develop a more nuanced understanding of its structural drivers, intrinsic characteristics, dynamics and diversity, challenges and opportunities,” said Dr Mia Gray of the Department of Geography. “This report is an important first step to promote empirical research in this increasingly significant area of our economy.”

̽��ֱ��report is the result of a collaboration between Nesta and the ̽��ֱ�� of Cambridge, with support from PwC and ACCA.

̽��ֱ��UK’s alternative finance market – which includes crowdfunding, peer-to-peer lending and invoice trading – is set to reach nearly £2 billion by the end of the year, and is expected to double in 2015, as businesses increasingly seek more efficient ways to raise funding.

By connecting people directly and offering more efficient, diverse and transparent ways to invest or raise funds, alternative finance is increasingly becoming a viable source of capital for individuals and businesses alike

Bryan Zhang

Rocío Lara via flickr

Crowdfunding

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