Start-ups and other emerging companies in Oxford's growing tech cluster are in line to receive up to 1 billion in funding, it has been revealed.
The cash injection will help support the city's growth in the sector, with the cluster consisting of entrepeneurs, technology firms and researchers operating in the area surrounding Oxford's science parks and universities.
Various companies initially based in the city have been acquired or floated in London and New York, including Circassia, Oxford Immunotec, Natural Motion and Arieso
David Mott, Oxford Capital managing partner, said: "Increasingly, companies in the Oxford Cluster are attracting international capital from the US, Europe or Asia. Green Biologics, a speciality chemicals business is backed by the Swire Group, an Asian conglomerate, as well as venture capital investors Sofinnova Ventures and Oxford Capital."
Investors are very interested in the companies of Oxford, reports Growth Business, and this benefits both the start-ups hoping for investment, university graduates and entrepeneurs based out of the city.
Over the last 12 months, 1.4 billion in funding has been raised, and this will be channelled back into businesses across growing sectors such as energy, software and advanced engineering. This "wall of new investment capital" will be great for Oxford, Mott added.
"A virtuous circle is developing as successful companies attract both talent and funding. As these companies grow in size and value, they foster new generations of ambitious entrepeneurs and innovators who in turn will launch the next generation of businesses.
"Companies such as Oxford Nanopore, Oxitec, Oxford Pharmascience and Oxford PV have already received significant funding and are emerging as leaders in their markets."
