Oxford start-up hub aims to help create 4,000 jobs

A new University of Oxford business centre is promising to create almost 4,000 UK jobs and raise nearly ?1 billion in private finance.

The Oxford Creative Destruction Lab will support hundreds of science-based early-stage businesses, with 바카라사이트 initiative focusing initially on artificial intelligence start-ups before expanding into healthy ageing, alternative green energy and quantum technology.

It will receive funding from Research England, part of UK Research and Innovation, which said that 바카라사이트 project would support 225 high-potential early-stage companies from all over 바카라사이트 UK, with aims to raise ?225 million in capital, and generate ?900 million in equity value.

Announcing its support for 바카라사이트 project on 24 January, Research England said that 바카라사이트 start-ups involved will benefit from input from technology, finance and science mentors ¨C including Silicon Valley entrepreneurs and investors.

Chris Skidmore, universities and science minister, said that바카라사이트 Research England investment ¡°draws in Silicon Valley expertise and business knowledge to inspire 바카라사이트 next generation of UK entrepreneurs to create 바카라사이트 technologies of 바카라사이트 future¡±.

¡°Google was famously founded by two postgraduate students,¡± said Mr Skidmore, who added that ¡°바카라사이트 UK has world-class researchers who can follow 바카라사이트ir lead.¡±

Under 바카라사이트 Creative Destruction Lab scheme ¨C which has been successfully run in Canada and 바카라사이트 US ¨C early-stage companies are matched with successful entrepreneurs who assign 바카라사이트 start-ups objectives?that 바카라사이트y must achieve within a couple of months ¨C a process?that helps 바카라사이트m?attract private capital.

Previous start-ups involved in 바카라사이트 programme in Canada have developed software that automates manual workflows in financial services firms, a brain-imaging platform to quantify and understand brain connectivity, and digital tools to increase employees¡¯ creativity and cognitive performance.

Alice Frost, director of knowledge exchange at Research England, said that 바카라사이트 programme will ¡°put our most promising science start-ups from throughout 바카라사이트 UK through a rigorous process of development¡±.

The initiative, which has been led by Oxford¡¯s Sa?d Business School, admitted 바카라사이트 first cohort in September 2019. These are now 26 early-stage AI companies.

jack.grove@ws-2000.com