Oxfordshire's innovation partnership Equinox has set a target of 20 billion-dollar companies, more than £1bn a year in venture and growth investment and 30,000 net new jobs by 2035. It also wants backing from 10 leading US venture firms and 10 UK pension funds.
The Equinox 2035 Strategy was launched at the House of Commons on 19 October, hosted by Anneliese Dodds, MP for Oxford East. Equinox is a county-wide partnership of businesses, universities, investors and public bodies. The University of Oxford runs its secretariat, and Vice-Chancellor Professor Irene Tracey chairs the Equinox Council.
The targets
The 10-year plan sets measurable goals for capital, companies and jobs:
- 20 unicorns by 2035
- more than £1bn of venture and growth investment a year
- 30,000 net new innovation jobs
- investment from 10 tier-one US VC funds and 10 UK pension funds
- six global corporates with a permanent base in the county
- a place among the world's top three innovation-intensive clusters per capita
Where it starts from
Oxfordshire has about 3,000 high-tech businesses that together employ around 30,000 people. That means the jobs target would roughly double the current workforce. Oxford University Innovation has supported more than 350 companies since 2011, and together they have raised more than £8bn.
Oxford spinouts raised €908m in the first half of 2026, more than the €864m raised by university spinouts across all of Germany. That gives Oxford about a fifth of all European spinout investment. Oxford Science Enterprises (OSE), the university-linked investor, has had three unicorn outcomes in the past 12 months.
The capital question
The plan's main focus is on how companies are funded. Equinox will set up a regional Inward Investment Unit to act as a single point of contact for international investors, corporates and developers. It will also offer investment-readiness support to high-growth companies and introduce them to institutional and overseas investors.
The pension fund target ties in with national policy, which aims to steer more UK retirement savings into domestic private markets. If 10 UK pension funds came on board, more British institutional money would be invested in Oxford companies alongside US venture capital.
Ed Bussey, chief executive of OSE, said 20 unicorns by 2035 was "absolutely achievable". He warned, though, that companies must be able to raise growth capital at home rather than look abroad. Peter Leek, chief scientific officer of Oxford Quantum Circuits, said deep-tech businesses need patient capital, specialist talent, infrastructure and customers.
What's next
Equinox says it is now moving from consultation to delivery. More than 100 organisations have signed the Equinox Charter, and over 200 people took part in workshops over the past two years. A shared regional data platform will track investment, company growth and skills.
The real test will be follow-on funding. A UKRI review in February found that Oxford, Cambridge and London together took about two-thirds of the venture capital invested in UK spinouts founded between 2013 and 2024. Oxford's spinout pipeline is already strong. The harder task is keeping those companies, and their cap tables, in the UK as they reach Series B and beyond.
Original source: UKTN — https://www.uktech.news/news/oxfordshire-20-unicorns-30000-tech-jobs-2035-20261020
