The Growing Together Alliance (GTA) has published its first data report, Accelerating the UK-Wide Benefits of Ox-Cam, supported by the Oxford to Cambridge Growth Unit in the UK Government. Advanced Oxford Managing Director Sarah Haywood contributed to the report as a member of the GTA Research Reference Group, alongside colleagues from Cambridge Ahead, Business West, BusinessLDN, Business South, Northern Powerhouse Partnership, and North West Business Leadership Team.
The research presents new evidence of how the Oxford-Cambridge Growth Corridor generates economic benefits far beyond its boundaries, examining three dimensions of outward growth: venture capital flows from Oxford, Cambridge, and Milton Keynes into firms across the wider UK; the movement of knowledge-economy firms relocating out of Ox-Cam to scale elsewhere; and R&D collaborations through Innovate UK projects involving Ox-Cam partners.
Headline Findings
- Ox-Cam-based venture capital organisations have invested at least £154 million in UK businesses outside of the Corridor since 2016, leveraging over £1 billion in total co-investment.
- Around 3,800 Cambridge-based companies employing 14,000 people relocated their headquarters out of the area in the past decade, with 75% going to locations outside London.
- Since 2017, around 50% of Innovate UK projects involving an Ox-Cam partner were collaborations with companies outside of the Corridor, engaging 2,552 distinct companies.
The strongest capital connections identified include Cambridge to Bristol, Oxford to Newcastle, and Cambridge to Manchester, with investment reaching 117 locations across the UK. The report also highlights a proximity benefit, with neighbouring counties such as Hertfordshire, Bedfordshire, and Northamptonshire functioning as part of Ox-Cam’s extended economic ecosystem.
Policy Recommendations
The report sets out eight recommendations across three pillars: supporting place-based investment networks across the country, building on Ox-Cam expertise; strengthening connectivity between the Ox-Cam and Northern Growth Corridors; and improving physical and planning infrastructure to unlock opportunities in areas surrounding the Corridor.
The report concludes that Ox-Cam can be utilised as a catalyst for connected growth rather than a competitor to other regions. We are proud to have contributed to this important body of evidence and look forward to the next phase of GTA research ahead of a final policy paper in Q3 2026.
