Work starts on new Cambridge science and innovation park
Development work is underway on the new Cambridge Discovery Campus, a 50 acre – 343,000 sq ft science and innovation campus two miles south of the city. Demolition and remediation work has started on the site ahead of the construction of six laboratory-enabled buildings around a 30-acre country park. The scheme, being developed by Bridgemere Land with Foundation Capital Ventures, is close to the growing Cambridge Biomedical Campus; which includes the university, Papworth Hospital and Cancer Research UK. It is also close to the new Cambridge South railway station – due to open later this year – and is designed for SME ventures or ‘whole campus’ organisations. It includes a bespoke amenity building, with a café, fully equipped gym and meeting facilities. Will Heath, CEO,Bridgemere, said: “The Cambridge Discovery Campus vision is to make its own significant contribution to the continued future success of the innovation sectors via the provision of super-connected, state of the art research and development buildings set within an environment that prioritises occupier well-being, whilst enhancing the immediate environment for the surrounding community to enjoy.”
Firms’ confidence in their own prospects helps shake off January blues
Optimism on the economy amongst businsses in the region plunged in January although firms are increasingly positive on their own trading prospects and more are planning to recruit in the year ahead. Overall optimism on the economy as the new year started fell by 16 points to 6 per cent in the East of England, according to a business barometer survey from Lloyds. But firms’ confidence in their own business prospects month-on-month, actually jumped by 32 points at 49 per cent. Taken together, it gave a ‘headline confidence’ reading of 27 per cent, up from 20 per cent in December but still below the national level. Meanwhile, a net balance of 20 per cent of businesses across the region expect to increase staff levels over the next year, up by 13 points on the previous month. New products or services were cited by around half of firms as their top area for growth. Kirsty Sadler, regional director for the East of England at Lloyds, said: “It’s great to see local businesses starting the new year with stronger confidence, and with more firms planning to hire.”
Venture capital investment ends the year with a flourish
Businesses in the East of England raised £480.5 million of venture capital investment in the fourth quarter of last year, a sharp rise on the £300 million raised in the third quarter according to KPMG’s Venture Pulse report. Forty-eight deals were completed across the region, up from 33 in the previous quarter. Life sciences was a major driver of activity in the East with almost £150 million invested into 18 healthcare, pharma and biotech companies in the final quarter. Investment into business products and services and IT sectors also stayed strong in the region, with VC backing of £60.3 million and almost £40 million respectively. A separate recent KPMG survey found that more than a fifth of the the region’s private business owners see venture capital as a way to finance diversification this year. Joe Faulkner, East Anglia senior partner at KPMG UK, said: “It’s great to see venture capital investments are up on the already high levels of the previous quarter. Norfolk and Suffolk continue to gain global recognition for their agri-tech, bio-tech and fintech clusters, playing an important role in a thriving VC ecosystem.” Nationally, the UK raised a total of £15.5 billion in VC investment last year after funding in the fourth quarter jumped by more than a third from £3.1 billion to £4.4 billion.
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Offshore wind cluster seeks to raise its voice
EastWind, which represents firms in the region’s offshore wind cluster, is launching a new lobbying group to raise its voice at the national level. It aims to address what it sees as a lack of recognition in recent government announcements. New chair Denise Hone and vice-chair Esmee Thornton called for increased government support and recognition of the region’s critical role in the renewable energy transition. The cluster’s membership has grown to 232 members and it has expanded its events presence. Priorities for 2025 include enhancing the regional supply chain through a matrix, increasing visibility and connecting SMEs with developers and tier one suppliers.
Photo: Chair Denise Hone and vice-chair Esmee Thornton
Energy and comms business opens office in innovation centre
EDR Technology Group, an energy and communications solutions business, has set up a new office at The EpiCentre innovation centre in Haverhill. Managing director Ed Aspeling said: “We chose The EpiCentre for its seamless move-in process, efficient setup, and fully equipped facilities that allow us to be operational immediately. Our sales team particularly wanted to move away from working at home and The EpiCentre enabled them to setup quickly and with ease.”
EpiCentre manager Helen Earl said: “The arrival of EDR Technology at The EpiCentre underscores the tailored, flexible workspace solutions we provide to support dynamic, fast-growing businesses.”
Photo: The EDR technology team with managing director, Ed Aspeling centre.
Law firm promotes four team members amid growing client demand
Law firm Fisher Jones Greenwood has promoted four team members amid growing client demand. Joe Sandercock (right) has been made partner within the civil litigation team in the Billericay office. Since joining FJG in November 2020, he has advanced through the ranks, having previously served as an associate solicitor since April 2022. Billy Smith, who works in the firm’s Chelmsford-based dispute resolution team, has also been promoted to partner. Joining the firm as a solicitor in 2020, his career advancement has also been rapid. FJG has also promoted solicitors Matthew Desborough and Joel Vika-Tyson to the role of associate solicitor. Paula Fowler, CEO of Fisher Jones Greenwood, said: “At FJG, we are committed to recognising, nurturing, and rewarding talent. These promotions reflect our ongoing investment in our people, who are the cornerstone of our success.”
Photo: Joe Sandercock
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