Cambridge Enterprise, the innovation arm of the University of Cambridge, is opening a starting home for new University of Cambridge companies with the recent refurbishment of ideaSpace West. The co-working space and founder community, co-located with Cambridge Enterprise at the Entrepreneurship Centre in West Cambridge, will remain focused on creating a community where founders can work to grow their venture and be supported in their development as entrepreneurs and leaders.
The ideal community and co-working space for early-stage ventures
ideaSpace West, one of three ideaSpace sites across Cambridge, aims to create the ideal community for early-stage ventures emerging from the University alongside start-ups from the wider ecosystem. The space is designed to cater to a diverse range of startup needs, providing an effective and supportive community, and enabling the free flow of ideas and innovation. It is fitted out to respond to new hybrid working requirements with different working areas, collaboration spaces, digitally equipped meeting rooms, and a social and event space to promote connectivity.
ideaSpace became part of Cambridge Enterprise family in 2023 – a natural evolution for both organisations which allows each to harness the strengths of the other. ideaSpace and its companies can now leverage Cambridge Enterprise’s commercialisation expertise, knowledge and networks. In return, ideaSpace West provides Cambridge Enterprise with the ideal starting point for new University of Cambridge companies. The union brings both communities together and paves the way to ever greater collaborations between the University and its portfolio companies.
Beyond the physical transformation, ideaSpace West is a symbol of Cambridge Enterprise’s ongoing commitment to fostering innovation, collaboration, and entrepreneurial spirit at Cambridge West. Joining current and new members, ideaSpace West will also be the home to the recently launched Founders at the University of Cambridge initiative, which is announcing the first cohort for its accelerator programme in the coming weeks. This first programme will support ten companies from the University community to take forward their ideas via early-stage investment and extensive support leveraging a global alumni network.
ideaSpace welcomed its first member in back in 2010 and has since been home to over 1100 members, including Chris Mitchell of Audio Analytic, Scott White and Richard Pane of Pragmatic, Alex, Toby, Tristram and Dan from SimPrints, Joe Parry from Cambridge Intelligence and Mark Kotter, founder of bit.bio. Steve Brierley joined ideaSpace in 2018, after he founded Riverlane. Since then, he has successfully grown the company to 100 people, raised over £38m in funding, and has recently been awarded an OBE for his services to Quantum Computing. He said that ideaSpace was a fantastic place to start the company, adding: “You get an almost instant network of people willing to share their experiences of doing the same and I’m still in close contact with many of the people I met there. I would often ask a fellow founder over coffee about the problems I was trying to solve or ideas I had for business development. That could be from grand plans to things as simple as recommendations for a good accountant – it all helps and adds up to a significant advantage.”
Current member, Umaima Ahmad, Co-founder of 52North, joined ideaSpace West in 2022 and is looking forward to using the new office which is now a welcoming and calm space and creates a real sense of belonging for ideaSpace members. She said, “ideaSpace has been absolutely central in terms of enabling us to engage with the stakeholders you need to start and grow a business. Everything you need is right here on your doorstep.”
Ben Hartley, Head of ideaSpace, said: “ideaSpace has built a reputation of helping founders and entrepreneurs to grow their businesses by providing both a unique community to connect to and a great space to work - the perfect environment for emerging and ambitious ventures. The union between ideaSpace and Cambridge Enterprise joins together two pivotal segments of the Cambridge innovation ecosystem. Both organisations are fostering a more collaborative and self-sustaining environment for founders, and entrepreneurs in Cambridge. Our new home on the West site embodies this shared vision, and we can’t wait to see what the innovators passing through our doors will do next.”
Diarmuid O’Brien, Chief Executive Officer at Cambridge Enterprise, added: “The investment in the refurbishment of ideaSpace West encapsulates our vision for the West Cambridge site, transforming it into a more collaborative and dynamic co-working space. This transformation is the first stage in our reimagination of how the Hauser Forum will be utilised, focusing on building a community and expanding an already thriving hub for innovation. This aligns seamlessly with our ambition to make ideaSpace the go-to starting home for all University of Cambridge businesses, while remaining open to all.”
Main image: Dr Diarmuid O'Brien - Chief Executive of Cambridge Enterprise, Caroline Hyde - Head of Ecosystem Initiatives and Partnerships, Ben Hartley - Head of ideaSpace.
