The Cambridge cluster

The modern Cambridge cluster began in 1960 with the foundation of Cambridge Consultants, which was formed to "put the brains of Cambridge University at the disposal of industry." While Cambridge was already home to several well-established engineering firms, such as the Cambridge Scientific Instrument Company, the Pye Group, and Marshall of Cambridge, it was still viewed by many as a "small country town in the centre of a very large natural green belt." However, with the establishment of Cambridge Science Park by Trinity College in 1970, the cluster began to grow rapidly. 39 new companies were formed between 1960 and 1969. In the 1970s, 137 were formed. By 1990, company formations had reached an average of two per week. Today, Cambridge is Europe's largest technology cluster. Around 54,000 people are employed by the more than 1,500 technology-based firms in the area, which have combined annual revenue of over £12 billion.