Are you looking to change careers but have no idea where to start?

Have you taken a career break and are looking for advice and support on how to re-enter the workforce?

Have you relocated because of your significant other and now find yourself unemployed?

We have a special event just for. On November 4th 2017, at the British Antarctic Survey’s Aurora Center, we will be hosting ‘Relaunch Your Career’.

We aim to give you the tools, confidence and support system to take that first step. A full day of training for women with a background in Science, Technology, IT, Engineering, Maths, and Medicine, it will include expert speakers, workshops and plenty of networking opportunities.

We invite all women, regardless of your career stage, to take advantage of this incredible event.

Cambridge-based Featurespace, the leading machine learning for fraud prevention, has raised $21.6 million (£16.5m) in a funding round led by Highland Europe.

The cash will support Featurespace’s international expansion and continued upgrades of its software capabilities.

The round includes follow-on funding from existing investors including Touchstone Innovations plc, NESTA, TTV Capital and Cambridge angel, Robert Sansom. Touchstone committed £1.4 million to the round and now holds a 27.9 per cent stake in the business.

Worldpay Group plc, a leading global payment processing company, and Mike Lynch’s Cambridge-based investment vehicle, Invoke Capital, also participated as new investors.

Alongside its investment, Worldpay has formed a commercial partnership with Featurespace. The alliance will help further accelerate the development of fraud prevention services for Worldpay’s own merchant customers. 

As part of the agreement, Worldpay will licence Featurespace’s advanced behavioural analytics technology for a number of key use cases, including risk management and fraud prevention for merchants.

Featurespace was created out of Cambridge University’s Engineering Department, co-founded by world-renowned experts in applied statistics, the late Professor Bill Fitzgerald and Dave Excell, Featurespace CTO.

The company’s real-time, ARIC™ platform uses Adaptive Behavioural Analytics to detect anomalies in individual behaviour for fraud and risk management. The fast-growing fraud detection and prevention market was worth $14.23bn in September 2017 and is growing at 20 per cent per annum, according to MarketsandMarkets. 

Martina King, Featurespace CEO, said: “This funding round will enable us to continue to protect our expanding client base and their customers from real time fraud attacks. These additional funds will also help support our continued international growth following the successful launch of our US offices earlier this year.”

Laurence Garrett, partner at Highland Europe and formerly head of 3i in Cambridge, commented: “Featurespace is one of the most exciting artificial intelligence companies we have seen, with huge potential for international expansion, since it offers one of the most advanced technologies in this area on the market. 

“The demand for Featurespace’s products is great and I am delighted that this funding will help support its rapid growth in the US and other international markets. Martina King is an exceptional leader and we are truly looking forward to working with her and the team.”

Mike Lynch added: “At Invoke, we aim to identify companies that can commercialise technologies with a demonstrative advantage over the competition. Featurespace is one such company. Its machine learning capabilities are hugely impressive, while it operates in a market that is potentially massive given the ubiquity of online fraud. We look forward to supporting the company’s further growth and technology development.”

Worldpay says it is looking to grow with Featurespace internationally. Chief information officer Mark Kimber said: “We are always looking to work with innovative companies and are confident that this partnership will deliver superior outcomes for our customers by preventing more fraudulent transactions whilst reducing the number of genuine transactions that are declined. 

“We’ve been incredibly impressed by the evolution of this business and believe it has the potential to grow significantly. With our investment in the company, we are looking forward to supporting the Featurespace team as they expand their business and capabilities.”

• PHOTOGRAPH SHOWS: Featurespace CEO, Martina King

Anti-soiling and anti-icing IP based on patented technology from TWI in Cambridge is being targeted at global customers in a move that could save lives as well as billions of dollars for airlines and industrial giants.

Opus Materials Technologies is commercialising the nano-coating technology and is in dialogue with major players across a range of industries worldwide. They include Boeing and Airbus and leading organisations in Dubai.

Iced up planes not only put passengers lives at risk in flight but cost airlines an estimated $3 billion a year in keeping jets on the ground while problems are treated. It is a near-constant issue in territories such as Russia and Canada.

Opus, based at St John’s Innovation Centre in Cambridge, is also talking to AeroMobil about using the technology for its pioneering flying car.

In desert territories where solar power is king, clogging caused by sand is the enemy – but these are just two of scores of potential applications for the nano-coating solution, says Opus.

A self-cleaning property in the coating could also prove a boon for keeping glass towers such as The Shard in pristine condition in cities around the globe.

Opus was founded in 2014 to explore multi-billion market opportunities for the TWI IP and has just secured over £3.5 million funding in the EU and UK to develop anti-soiling and anti-icing coatings for use in the renewable energy and aerospace markets. Key funding bodies include Innovate UK and Horizon 2020 but Opus has injected substantial amounts of its own cash in the early commercialisation process.

The funding is being used to develop a comprehensive portfolio of market-ready industrial coatings and to oversee their deployment across real-world projects in key vertical markets over the next two years.

Opus plans to have first product to market in the anti-soiling arena by 2019 with the anti-icing solution as soon as possible after that.

The anti-soiling coating is being developed to eliminate the need to manually remove dirt build-up on solar modules, thus optimising their performance and energy generation efficiency.

The anti-icing coating is being developed to prevent ice from forming on aircraft improving industrial O&M and reducing the risk of fatal accidents caused by ice shedding. It is also envisaged that the technology will have cross-sector applications for wind turbines, maritime vessels and the auto industry.

Marshall Aerospace and Defence Group in Cambridge has begun a major restructuring of the business that could lead to up to 300 job losses.

Consultations with staff continued today as the company seeks to take as much pain as possible out of the significant restructuring process. Management say they have to refine the business model to ensure sustainable success over the long haul in the face of intense global competition.

One of the world’s most successful innovators in aerospace and defence, Marshall ADG has enjoyed decades of success in both civil and military spheres.
 
A Queen’s Award winner, it was awarded a £13.5 million contract to support MBDA missile systems earlier this month and in August received a special accolade for excellence from global giant Boeing.

A statement from the company today revealed: “Marshall Aerospace and Defence Group has announced the beginning of the process to build a more agile, competitive and sustainable company which will ensure that Marshall ADG becomes a stronger competitor and partner in the UK and overseas.

“Our underlying core business is strong and we are continuing to support our many customers and invest heavily in the business; including the recent £20m upgrade of the Cambridge Airport’s runway and infrastructure.

“We are building a new, simpler business operating model, which is modern, flexible and affordable. 

“This is a significant change to the business which will, regrettably, impact on the number of people within the company and we have begun consultation on a proposed reduction of up to 300 positions throughout the organisation, at all levels.

“Our priority through this transformation is to maintain our focus on delivering for our customers whilst strongly supporting all of our employees who may be affected by this.”

How is the Cambridge market faring mid-year? Well, it is certainly living up to its name as one of the fastest growing economic regions and commercial hubs in the UK. But, on review of commercial real estate activity in 2017 so far has Brexit put the kibosh on the speed in which this industry will develop?

As we predicted at the beginning the year, the office market has remained resilient during the first half with take up totalling 398,832 sq ft, double the same period in 2016. 

The city centre is also still proving popular; however there has been a further five per cent reduction in supply in the last six months, which is pushing occupiers to alternative locations on the periphery of the city, such as Cambridge Research Park and Cambourne Business Park, where there is some availability. 

In the city centre, new records have been set outside of the successful CB1 area, which we ourselves are now enjoying! 11,067 sq ft of recently refurbished office space at Quayside was leased at £36.36 psf which, for a non-established office location, was a bit of an achievement! 

That being said, the area has excellent amenities including an abundance of restaurants, bars and shops along the river. It goes to show how important these facilities have become to employers who will pay, not only for good quality office space, but for local amenities that will retain and attract talent. 

Looking ahead to the remainder of the year, we predict that prime office rents will increase to £38 psf on average, which is the current quoting rent on a pre-let basis by Brookgate for 50-60 Station Road. 

Unfortunately, the industrial market is not seeing as much success. Despite an increase in speculative development, the availability of good quality affordable space in Cambridge remains limited. 

Lease terms on existing and secondary stock have remained stable with landlords still considering five-year terms. Headline rents are now peaking at £11 psf for quality and location, assets like these are let relatively quickly, disappearing from the market almost as soon as they are listed. 
Supply constraints are also pushing occupiers to agree to poorer quality second hand stock further afield. 

Similarly, retail rents have remained stable at ZA £280 psf, as at June 2017, for units in the Grand Arcade shopping mall. This is rapidly approaching its pre-recession peak of ZA £290 psf, a rate that can already be found on the High Street.

Reflecting on the predictions we made earlier this year, there was hope that we would have a clearer idea of the impact Brexit would have on the commercial market in Cambridge. 

So far it has just been business as usual. Many clients were initially nervous and, of course, there was a quieter period over the summer while most of the industry disappeared to the Med to try and find some sun! But no drastic changes to cause any concern so far, even though the market has slowed.

Ultimately, across all commercial real estate asset classes in Cambridge, demand is dramatically outweighing supply. This is causing an increase in rents in the most desirable areas and pushing out many occupiers to the edge of the city where there are more affordable and available sites. 

Research, science and technology sectors are still the growth areas to watch because of further development of the London-Stansted-Cambridge corridor and Enterprise Zone.

We haven’t seen any dramatic surprises over the last six-months and expect the market to continue the same trajectory until the constraints and opportunities brought on by Brexit become clear. Until then, we’ll keep advising our clients with the most up to date information we have and in the best way we know how.

carterjonas.co.uk

We are told that a key benefit of leaving the EU is that the Government will regain control of our borders and will finally be able to decide who is and is not allowed to come to the UK., writes Clare Hedges, senior associate, Birketts LLP.

So how will Theresa May, Amber Rudd et al, exploit these new found freedoms? And what can employers do to ensure their interests are protected?

The Tories want to “reduce net migration from hundreds of thousands to tens of thousands.” So we can safely assume that it will get harder for migrants to come to the UK.

Although we have not yet left the EU, employers are already seeing the effects of Brexit. International competitors are exploiting the current uncertainty to lure away top talent. 

Workers who feel unwelcome or fear that their future has become precarious are choosing to leave. Others are finding that the weaker pound coupled with improved prospects elsewhere in Europe mean there is little benefit in working in the UK.

Furthermore some employers are moving operations abroad, to comply with EU regulations, or maintain access to EU funding. Therefore we are already starting to see a reduction in the net migration figures.

Whilst EEA nationals already in the UK are repeatedly being told they have no cause for concern, the Government has made it clear that it wants to end the free movement of people. Its proposal for EU nationals published in August may say that those who entered the UK before the referendum will be allowed to stay, but it also suggests that the Government will stop recognising permanent residence status and those who wish to stay indefinitely will need to apply for “a new settled status”. 

Worries about rules and timescales for this have led to an increase in EEA nationals seeking to naturalise as British citizens before March 2019. The recently leaked document with more detail on the Government’s proposals reveals that post-Brexit they intend to apply similar rules to EEA nationals as currently operate for non-EU immigration.

There is acknowledgement that employers will also need some limited ability to recruit ‘low-skilled’ workers (that term itself has become contentious), but their rights will be more limited.

It is not just EEA nationals who are in the Government’s sights. The Tory manifesto also included increasing the Immigration Skills Charge, making it harder for international students to stay and work in the UK post-study and reviewing the minimum income requirement for spouse visas.

The Government has asked the Migration Advisory Committee (MAC) to report on the economic and social impacts of Brexit and how the UK’s immigration system should be aligned with “a modern industrial strategy”. The MAC is calling for evidence to inform this report. It is essential that anyone with an interest in future immigration policy responds. In particular those who wish to challenge the government’s current thinking!

There are lots of different consultations and surveys taking place at the moment, but as the MAC report has been commissioned by the government itself, it is likely to be the most influential. 

If you want to have a post-Brexit immigration system that takes your needs into account, then it is vital that you make your case to the MAC. Evidence must be submitted by October 27, 2017.

You can choose to respond to all, or just some, of the MAC’s questions, which can be found at www.gov.uk

The MAC says it is seeking “views and evidence”, but in practice we know the MAC’s focus is on evidence rather than opinion. To be effective, you should try to provide data and examples to support what you are saying. These could be quantitative or qualitative. 

The data we expect the MAC to find useful includes:-

• What types of role are currently filled by migrant workers and why.
• What you would do if you were not allowed to recruit EEA nationals.
• How you recruit and what the impact would be if you had to wait for someone to get a work permit.
• What level of cost and bureaucracy you would be willing to bear to recruit an EEA national.
• Any experiences of using the current visa system.
• Business planning cycles and any effects of Brexit that are already being seen/anticipated.
• Details of how EEA nationals are working not just as employees, but as consultants, agency workers and on a self-employed basis.

We know these issues are of concern to employers of all sizes around the region. To help you share evidence with the MAC we are hosting a roundtable event with them on October 6, 2017. 

Places are strictly limited, but if you are interested in attending please contact me. Call 01223 326605 or email me – clare-hedges [at] birketts.co.uk 

We understand that Cambridge Network is also supporting its members with responses to the MAC.

Brexit affects British workers, as well as migrants. On a bigger scale, the theme of our annual employment law conference on October 12, 2017 is Recruitment, Retention and Engagement in Changing Times. This includes a breakout session on Brexit-proofing your workforce. For further details and to book your place see: http://ift.tt/2yFUDwi

Microsoft has chosen its Cambridge UK research lab – in its 20th anniversary year – to pioneer digital healthcare breakthroughs leveraging its bleeding edge AI, machine learning and cloud computing capabilities.

The Seattle technology giant has set up a new healthcare department at its city nervecentre in CB1 designed to engineer digital solutions that will take massive financial and physical strain off the NHS.

Trained doctor and data scientist Iain Buchan has been taken on to spearhead the venture, according to international media sources.

Hi-tech monitoring of patients’ symptoms, astute data management and digital harvesting of key information about populations and disease trends will accelerate the drive towards genuinely personalised medicines.

It is yet another ‘first’ for Cambridge in the global growth story of Microsoft Research. Bill Gates decided on Cambridge for the corporation’s first research lab outside of the US back in 1997 – ahead of China which many followers of the company thought would be first choice.

Business Weekly was in on the opening under brilliant inaugural MD Roger Needham in 1997 when the lab started with only three staff. Now it has over 130 researchers and engineers and is currently hiring interns, researchers, postdocs and engineers to further grow headcount.

Its move from its original home at the university’s West Cambridge site to the showcase CB1 development has also spurred a steady flow of technology transfers into the Microsoft Corporation parent business.

The corporation has nursed a long-held ambition to use its advanced technology solutions to transform healthcare. And as Lab director Professor Chris Bishop has said: “We have just scratched the surface of what technology can do for us. We are continuing to push the boundaries of computing to create ubiquitous technologies with the potential to transform our lives.”

CyanConnode in Cambridge. which specialises in narrowband radio mesh networks, has received a $29 million order from its strategic partner NIK LLC for a smart metering contract in Ukraine.

The deal is significantly larger than any received to date by CyanConnode and takes the value of purchase orders received but not yet delivered to $100m.

This includes $33m of expected software licence and support revenue from a UK smart metering contract.

The Ukraine order is for a one million unit smart metering deployment to be delivered over the next three years.

CyanConnode will receive $13 million for the provision of hardware with the majority of deliveries expected to be weighted towards years two and three.
Once each meter has been installed and is operational, the Head End Server software licence payments (to be made on a per meter per year basis) will kick in. 

The HES payments will be made over the 10-year period post installation and will be worth $16m, providing the company with a recurring revenue stream. The deal is expected to open up huge swathes of eastern Europe for the company.

Market intel reveals that central and eastern European countries are forging ahead with investment in smart grid infrastructure with a reported $25.2 billion to be invested over the next 10 years. The overall number of electricity consumers in Ukraine is around 16.5 million, providing scope for further significant follow-on orders.

Executive chairman John Cronin said: “We are pleased to announce such a significant order from our partner, in a new geographic region. 

“This latest contract win further demonstrates the suitability of CyanConnode’s award-winning technology for smart metering implementations and the scalability of its collaborative business model.”

Cambridge Medical Robotics, which is developing a next-gen robotic arm for keyhole surgery, has closed a stunning Series A round at $46 million.

Business Weekly understands the startup, founded in 2014, is already plotting its Series B having had to turn investors away in the first round of financing.

CMR closed its Series A after raising a further $26m from existing investors Cambridge Innovation Capital, LGT Global Invest, Escala Capital and ABB Technology Ventures plus new investor Watrium – based in the Norwegian capital of Oslo. 

CMR raised the initial $20m first tranche in July 2016. It plans to use the Series A proceeds to progress its versatile surgical robotic system, Versius®, through ongoing validation studies and to start production of further systems. 

The Cambridge, UK company recently completed the latest set of cadaveric trials, demonstrating the ability of its Versius system to perform upper GI, gynaecological, colorectal and renal surgery.

Unique to the Versius system is a four-axis wrist joint incorporated within all the robotic arms. This compact joint mimics the dexterity of the human wrist and, unlike other robots, enables Versius to hold a surgical instrument in the same way as a surgeon. This means the system can be used across a wide range of minimal access procedures whilst retaining its remarkable compact and portable form.

The company will now progress further pre-clinical studies in support of anticipated regulatory approval and commercialisation.

CEO Martin Frost said: “Versius continues to demonstrate its leading position in this next generation of robotic surgery systems. I’m pleased to report this significant progress and thank our existing and new investors for their enthusiastic support and look forward to continuing our rapid development as we lay the foundations for producing and marketing this in-demand system.”

Global annual revenues for robot-assisted minimal access surgery are presently approximately $4 billion and anticipated to reach $20bn by 2025.

This one day interactive session uncovers the challenges faced by professionals working in our fast-paced world and how these impact on life in general. 

There will be discussions around how to become ‘stronger’ and tools to help modify your thinking and change certain behaviours that hold you back. You will leave with a personalised Action Plan of how to become increasingly more resilient in the face of on-going challenges and change.

• As you go about your day-to-day work do you feel like the goal posts are constantly moving?
• Are the demands on you just piling up?
• Does all of this spill into home and family life?

If so, then this workshop is for YOU.

For more details and to book one of the 6 available places visit the website – http://ift.tt/2yiXEm3

Or call Shari Khan if you have any questions on 07855 695049.