Formula for the success of silicon fen
When most of us think of Cambridge, the first things that spring to mind are generally its imposing colleges and ancient traditions.
The city is famous for its centuries-old university, while its period properties, and pretty streets have been attracting and delighting visitors for generations. However, over the past few years, the city has begun earning a reputation for something completely different: tech.
Attracting start-ups and entrepreneurs from across the UK, Cambridge, and the area that surrounds it, is now one of the most exciting centres for tech in the country.
So what’s bringing these innovative companies to the city and what does it mean for the local jobs market? We decided to find out.
A reputation for innovation
Thanks to its world famous university, Cambridge has always had a reputation for innovation. The city has long attracted talented inventors and thinkers from around the world – producing a melting pot of ideas in the process.
As well as creating a fertile environment for start-ups and forward-thinking companies, the city’s university also provides the raw talent required by tech companies to thrive.
Graduates form a large proportion of the employees at local tech companies, with many businesses moving to the area specifically to target the brightest minds in the country.
Start-ups and internationals living side by side
Although many of the companies that occupy ‘Silicon Fen’ are small start-ups and new, exciting science and tech companies, there are also some big names moving into the Cambridge area.
Some of the biggest are Microsoft, Amazon, Samsung and ARM which all have research teams based in the city. Having these large, internationally renowned companies sitting side by side with smaller businesses helps to attract investment to the area and ensures there is an excellent choice of job opportunities available to talented people living in the local area.
Economic impact
The economic impact of Silicon Fen has been enormous. As @OxfordRoyale says, “Cambridge is one of the fastest-growing cities in the world; its economic growth resembles that of a new Chinese city rather than an established European university town.”
This growth is being driven by tech companies investing in the city as well as by people moving to the area to take up jobs in the industry. This has helped to invigorate other industries in the city.
Restaurants, bars, and shops have all seen a boost in revenue thanks to the presence of Silicon Fen, while the Cambridge housing market has experienced significant growth due to talented workers being drawn to the area.
With so much on offer, it’s no surprise that Cambridge is fast becoming the tech capital of the UK.
If you’re moving to the area to take up a job in tech, we can help you find the perfect property. Get in touch today to find out more.