Cambridge, Europe’s largest tech cluster, has announced a new initiative with £50m ($80m) backing to support the development of the University’s startup and spin-out companies.

Cambridge Innovation Capital (CIC) will invest long-term equity finance in the institution’s many technology firms with a keen eye to assist companies across the funding pitfall after research opts to go down the commercialisation route known as the ‘valley of death’.

CIC plans to invest across a broad spectrum of technology firms at all stages…

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