Growing and diversifying the supply of equity investment into Oxfordshire-based science companies
Advanced Oxford has now published its Green Paper, setting out data, analysis and a draft set of recommendations, the results of a project to explore ways in which the private capital investment landscape could be strengthened for Oxfordshire-based science and technology companies (details of which, please find below).
The Green Paper contains a set of recommendations, in draft. These will be used as a basis for discussion, with the intention to develop a deliverable action plan, which will be published in follow up. The recommendations fall into 4 key themes:
- National policy recommendations
- Angel investment
- Broadening the pool of investors that are engaging in the region
- Building a better environment for everyone to flourish
We intend to consult widely on the recommendations and encourage all stakeholders, and those with an active interest in supporting the private capital investment environment in Oxfordshire, to engage with us.
We are particularly keen to collect responses to the following questions:
- Do you agree with the recommendations?
- Are there any that you do not agree with? It would be helpful if you could say why not.
- Are there any recommendations that are missing or issues that you think should be considered?
- What are the top 5 priority areas?
- Who needs to be involved in discussion and consideration of these recommendations? We are particularly interested in hearing views from individuals/organisations with levers, the ability to support change, resourcing support, influence, willingness to contribute to the development of actions, as well as help in identifying key stakeholders.
If you would like to contribute, please contact Advanced Oxford: [email protected]
Click here to open the green paper
Click here to access a copy of the recommendations and call to action
Project background
Oxfordshire’s Innovation Engine 2023 (OIE), published by Advanced Oxford in June 2023, examined developments that have taken place in the equity/investment landscape in Oxfordshire over the last decade. Some significant developments were noted, such as the creation of Oxford Science Enterprise (previously known as Oxford Sciences Innovation) and developments within angel investment systems However, the report also noted weaknesses.
Access to finance – particularly risk capital – continues to be a critical issue in ensuring the success of Oxfordshire’s innovation ecosystem. Early-stage funding is likely to need particular attention particularly as we appear to be in a period of resetting, and many young companies are on a continuous treadmill of fund raising. Most government intervention has been to support venture capital, but series B and later stage fundraising is still challenging in the UK – the £40+ million raises – and if companies are to be retained in the region, and indeed the UK, there is still a need to create the conditions that encourage UK institutional investors to back science and technology-based companies.
There is a need to see a growth in, and diversification of, finance options within the region, including attracting new players and funders into the ecosystem. There is still a need to see recycling of money made from exits and to encourage new, active angel investors to work in the region. Inward investment activities should also focus on encouraging investors to ‘put boots on the ground’ with long-term commitment to the ecosystem.
OIE 2023 made a specific recommendation relating to the investment environment within Oxfordshire: Grow and diversify the number of risk capital investors operating within the region.
The project is a response to this recommendation.
Advisory Board
Advanced Oxford has assembled an expert Advisory Board to support this work. The role of this group is to guide the work; assist in defining the scope of the work; to advise on research activities, including access to data; to provide knowledge and connections/introductions to support qualitative data collection and analysis.
- Jens Tholstrup, Executive Chair, Oxford Innovation Finance; Advanced Oxford board member; Trustee International Institute for Strategic Studies (IISS); Chair of Governors, St Clare’s, Oxford; Visiting Fellow at Kellogg College, Oxford
- David Ford, active angel investor with over 25 years of global asset management experience, across both public and private markets
- Andre Wierzbicki, corporate lawyer, asset management and private markets
- Susannah de Jager, public markets investment management background, advisor to
BOOST (Best Out Of Science and Technology) project and Founder of Oxford + podcast - Ceri Morgan, Leading advisor in public market Life science industry, portfolio NED and head of growth strategy for US, Canadian and UK companies
- Peter Crane, former Venture Capital and CEO of a University of Oxford spin-out company (Caeruleus Therapeutics)
- Nicki Campling, Director of Innovation and Operations, The Oxford Trust, formerly Barclays Corporate Banking and Ecosystem Manager, Barclays Oxford Eagle Lab
- Nicola McConville, Partner, Mishcon de Reya, advisor to start-ups, spin-outs and companies raising investment; angel investor.
- Jim Wilkinson – CFO, Oxford Science Enterprises
- Sarah Haywood, Managing Director, Advanced Oxford
Data collection – see below for privacy notice
The project has used a mix of qualitative and quantitative data.
Qualitative data collection has used a mix of questionnaires and interviews and has explored issues such: perceptions of the Oxfordshire ecosystem; sourcing deal flow; ease of doing business; signposting and landing points; exploring any barriers within the Oxfordshire system. Qualitative data has drawn on the experiences of both companies operating within the region, company founders, and investors from different investor groups (angels, family, venture, corporate venture etc).
The project has built a long-term picture, looking across all companies, not just University of Oxford spin-outs, to create a set of recommendations. The results of the project have now been published as a Green Paper, and Advanced Oxford will now work with key stakeholders to develop a set of actions for the ecosystem.
This project is subject to our privacy notice review our privacy notice relating to our research and data collection
If you would like further information about this project, or are interested in participating in next steps, please contact Sarah Haywood ([email protected]).
