Search

Abcam invests £1m to support Future Business

07:00 26 July 2011

A computer-generated image of the Future Business Centre planned for King

A computer-generated image of the Future Business Centre planned for King's Hedges Road.

Archant

The creation of the Future Business Centre in Cambridge has come one step closer – with a £1 million investment by Abcam in a charitable bond.

By placing £1 million of its cash reserves in a charitable bond, the antibodies supplier will release £150,000 of funding towards the development of the centre.

The company’s £1 million will be returned – along with a further £150,000 of interest – when the bond matures in five years’ time.

“One of the reasons for the success of technology companies in Cambridge is the unique clustering of businesses in the area,” said Jonathan Milner, chief executive of Abcam, which has 204 employees at the Cambridge Science Park.

“We hope the Future Business Centre will replicate this success by creating sustainable businesses in the social and environmental sectors.”

Abcam’s support follows previous charitable bond investments by TTP Group and ARM.

“We’re delighted to receive the support of Abcam and a growing number of individuals who are entrusting their money to a charitable bond for the good of Cambridge,” said Future Business chief executive Tim Jones.

“There are many positive discussions going on with local companies and we’re confident that we can reach our target.”

While further funding still needs to be raised, finance arrangements will allow construction of the new centre in King’s Hedges Road to begin in September – with completion a year later.

Future Business provides advice, affordable workspace and social impact measurement for companies with a social or environmental mission.

For more information, go to www.allia.org.uk/future-business-centre

Search hundreds of local jobs at Jobs24

0 comments

HOT JOBS

Show Job Lists

Insight

People playing Pokemon Go on St George's Street, Norwich.
Picture: ANTONY KELLY

The breakthrough of Pokémon Go marks the coming-of-age of augmented reality you can carry in your pocket. But what opportunities does it offer for business - and how can they capitalise?

J&S Jewellery was launched three years ago by sisters Jenny and Sophie Laslett and is now turning over £1M a year. Photo : Steve Adams

When launching a jewellery business in late 2012, sisters Jenny and Sophie Laslett used some borrowed money and a spare room. After ordering a small batch from a manufacturer in the Far East, their only customers the first Christmas were friends and family.

Green 100

cover

Enjoy the Green 100
digital edition

Read

Mustard TV

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Shaun Lowthorpe

Business Publishing Editor

|

Sabah Meddings

Business Writer

|

Duncan Abel

Business Development Manager

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100

Business Most Commented

Newsletter Sign Up