In the last two British Government Research Assessment Exercise in 2001 and 2008 respectively,[110] Cambridge was ranked first in the country. In 2005, it was reported that Cambridge produces more PhDs per year than any other British university (over 30% more than second placed Oxford).[111] In 2006, a Thomson Scientific study showed that Cambridge has the highest research paper output of any British university, and is also the top research producer (as assessed by total paper citation count) in 10 out of 21 major British research fields analysed.[112] Another study published the same year by Evidence showed that Cambridge won a larger proportion (6.6%) of total British research grants and contracts than any other university (coming first in three out of four broad discipline fields).[113]
The university is also closely linked with the development of the high-tech business cluster in and around Cambridge, which forms the area known as Silicon Fen or sometimes the "Cambridge Phenomenon". In 2004, it was reported that Silicon Fen was the second largest venture capital market in the world, after Silicon Valley. Estimates reported in February 2006 suggest that there were about 250 active startup companies directly linked with the university, worth around US$6 billion.[114]
Cambridge has been highly ranked by most international and UK league tables. In particular, it had topped the QS World University Rankings from 2010/11 to 2011/12.[115][116] A 2006 Newsweek overall ranking, which combined elements of the THES-QS and ARWU rankings with other factors that purportedly evaluated an institution's global "openness and diversity", suggested Cambridge was sixth around the globe.[117] In The Guardian newspaper's 2012 rankings, Cambridge had overtaken Oxford in philosophy, law, politics, theology, maths, classics, anthropology and modern languages.[118] In the 2009 Times Good University Guide Subject Rankings, it was ranked top (or joint top) in 34 out of the 42 subjects which it offers.[119] In 2010, according to University Ranking by Academic Performance (URAP),[120] it is the 2nd university in UK and 11th university in the world.