Copy of i consumed around Cambridge University (7)
I believe the answer is:
imitate
'copy' is the definition.
(synonyms)
'i consumed around cambridge university' is the wordplay.
'consumed' becomes 'ate' (to eat is to consume food).
'around' is an insertion indicator.
'cambridge university' becomes 'MIT' (Massachusetts Institute of Technology in Cambridge).
'i'+'ate'='iate'
'iate' placed around 'mit' is 'IMITATE'.
'of' acts as a link.
(Other definitions for imitate that I've seen before include "I ate Tim! (anag.)" , "Copy, simulate" , "Follow suit" , "Mock" , "Parrot" .)