You'd expect the UK's top universities to be trail blazing when it comes to tech innovation. We're a nation of innovators after all. London's TechCity has certainly raised the bar, but the US West Coast, not to mention Princeton & Harvard are seemingly still leading the way.
So, it's good to hear a new UK venture capital fund Cambridge Innovation Capital, unveiling its plans to change that. The fund which has raised £50m to invest in Cambridge companies is announcing details of the first three companies it is backing. And that's just the start.
There's no doubt that tech firms are big business, but innovation needs funding. This announcement can only be positive news for the UK, positioning us as contenders for the leaders in global innovation.
With a world-class university, a clutch of billion pound businesses, and a constant stream of young graduates with bright ideas, Cambridge should be unchallenged as the UK's top technology cluster. But in recent years it's struggled to make its voice heard above the hubbub from London's TechCity, which has had the backing of the government and plenty of its marketing muscle.