Regional Innovation, Incubation and the University

Regional Innovation, Incubation and The University

Entrepreneurial Leadership and The Cambridge Model

“The Cambridge Phenomenon”

Professor Alan Barrell

Hosei University, Tokyo February 26th 2009 Context and Agenda

▪ A General Context – A Changing World – A Financial Crisis ▪ Region and sub-region – where did the action really originate Question - Is there optimal size / scale for optimal Innovative Development ? ▪ Entrepreneurship as the driving force and Leader of much more than business success ▪ Entrepreneurial mindsets and support structures ▪ Technology Transfer – The University did not lead ▪ A Family of Incubators under other names ▪ A Cluster of Creativity ▪ Characteristics of Successful Cambridge Incubators ▪ Recognising and building on serendipity ▪ Funding and Investment Readiness Preparation ▪ People, Diversity, Culture, Communities, Networking and Society Casting an Eye on the World’s Financial Crisis – What’s changed ? Who said these words and When

“I believe the banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake up homeless on the continent their fathers conquered” Who said these words and When

“The budget should be balanced, the Treasury should be replenished, Public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed, lest our Nation become bankrupt. People must again learn to work, instead of living on public assistance” And what about these…

“I started the Cobra Beer Company in a deep Recession – and it proved to be the best time for me….introducing something innovative and exciting changed the way people thought about Indian Food and Beer”

Lord Karan Bilimoria Founder – Cobra Beer But the eye on the World shows lots of changes….its not just the finances….and some changes are permanent The Changing Horizon

Organisations Environment Issues

Technology The death of deference

Globalisation New employment patterns Sources of Competitiveness

Learning Information

Creativity Risk

Speed Reputation

Cost Values Changes in Industrial Structure - UK % of Total Employment - UK Government Foresight Report 2001

100 90 80 70 Manufacturing 60

50 All Services 40 30 20 10 0 1971 1981 1991 2001 2011 Global Dynamics – Manufacturing has Migrated

▪ Two fifths of the Worlds people live in the two fastest growing large economies – China and India ▪ Education, Wealth Creation and New Knowledge are at the heart of Economic Planning in Asia ▪ Growth in Asia is far ahead of Europe. ▪ Dynamic Growth in Manufacturing Base ▪ CASH is in place in the Asian economies – as well as brainpower- China has US$ 2 Trillions of reserves ▪ Labour and Material cost advantages +++++

Cambridge and the Eastern Region

Traditional Industries •Agriculture and Food •Fishing •Leather goods - Footwear •Wool and Textiles •7.5 million people •One of UKs fastest growing •Region governed by EEDA – East of England Development Agency

Trinity College’s History and Scientific Development – Cambridge – Science, Innovation and Invention

▪ Trinity always had a strong scientific tradition* ▪ First use of the word “scientist” 1835 (Whewell) ▪ First European Science Park – 1970 – Dr Sir John Bradfield

*Alumni include Newton, Clerk-Maxwell, Rayleigh, Thomson, Walton, Rutherford, Aston, Lyle, both Braggs, Bohr, Hopkins, Klug, Kendrew Greater Cambridge Partnership Area ( GCP) – one of nine “Sub-regional Development Partnerships” in the EEDA – East of England Development Agency Region 2002 GC Estimates Population: 750,000

FENLAND Jobs: 359,000 A1(M) (PART) GVA: £12.2bn

A10 Chatteris Littleport Ramsey

FOREST HEATHA11 HUNTINGDONSHIRE EAST CAMBRIDGESHIRE (PART) Mildenhall Huntingdon A10 A14 A14

A1 Bury St Edmunds St Neots CAMBRIDGE A14 ST EDMUNDSBURY (PART) A11 SOUTH CAMBRIDGESHIRE Haverhill

A10 UTTLESFORD (PART)

Royston M11 Saffron Walden NORTH HERTFORDSHIRE (PART) Building an Enterprise Society. Power of Entrepreneurship, Innovation and Networking

National economy

Regional economic development

Sub-regional development

Building communities of enterprise,social inclusion and common purpose Cambridge in 1960 ▪ Medieval City ▪ Great University and Seat of Learning ▪ Farmers ▪ Not much Industry ▪ Lots of Bicycles ▪ Entrepreneurs? Entrepreneurship? – “Town and Gown” – and Agriculture…. ▪ But things were changing….

Thinking About Entrepreneurship….

And about Creativity, Innovation, Discovery Culture, and Mindset – Historical Perspectives…and Timing

Jules Verne – “There is nothing more powerful than an idea whose time has come”….

And - With this background….Let’s IMAGINE Einstein on IMAGINATION….

“Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world”

Albert Einstein 1879 - 1955 So - thinking of Imagination….What’s different about Entrepreneurs ? “You look at things and ask - why? but I dream of things that never were and ask - why not?”

George Bernard Shaw Europe’s Entrepreneurial Imperitive – Josef Schumpeter - 1911

“Entrepreneurs blow gales of creative destruction.”

Role of the entrepreneur in transforming economies by developing: • New products • New methods of production • New ways of organizing • Untapped raw materials • Enhanced competitive performance Is The Cambridge Phenomenon an Example of a “Mini-Schumpeter Gale of Creative Destruction?” Entrepreneurship – The bigger picture….Leading Social Change (Prof Shai Vyakarnam – Cambridge 2008)

India Migrations Single Within and into Economic system Berlin Wall Europe Hasselhof China

Is there a shift in Completely new markets economic centre of gravity? Add the Impact and Timing of the Continuous Technology Revolution…. Compared to an average DAY in 2003….

1971 All international phone calls

1975 All airline passengers

1984 All mobile phones

1992 All emails

1998 All SMS

Source: Analysys, World Bank and ITU Three Converging Revolutions Three Pervasive Technology Platforms

BIO TECH Pharmaceuticals Genomics INFO TECH Diagnostics Bioinformatics Hardware Research/Info Proteomics Software Tools Communications Industrial Biosensors Biochips Bioelectronics Nanodevices Microfluidics Nanosensors Nanobiotechnology Nanoelectronics Drug Delivery NANO TECH Electrical Structural Biomedical Energy & Environment

1960 – The “Columbus Spirit” hits Cambridge – and a Cluster emerges

Cambridge University

Cambridge Consultants Ltd (1960)

P.A. Technology

The Technology Scientific Generics Symbionics Team Consulting Plextek Partnership

• Combined headcount of technology providers currently exceeds 2,500 in UK • PA Technology employs up to 2,500 Worldwide • Combined direct and indirect revenues estimated at $1,5 billions – ? more • PA technology – Revenues $750millions+ • Some players have seed funds • 70 identified spin-outs - highly successful incubator models From 1960 – Birth of the Worlds largest Industrial Ink Jet Cluster

Cambridge University

Cambridge Consultants Ltd spin-out 1960

Domino Willett Elmjet Ltd Linx Support to Xaar Printing International Printing Imaje Printing 1986 INCA Ltd Sciences Ltd Technologies (France) Technologies 1978 1983 1986 formed 1979 1990 2000

• Total current revenues $1.5 billion + • Total headcount 4,000+ • Major market share participation worldwide • Diaspora populates Ink Jet Industries in international locations • Ink Jet Cluster is enabling “Plastronics” Cluster. Revolution – Plastic Logic – “E-Reader” – already raised $250 millions! Steve Barlow Caroline Robert Swann Garey Phil O’ Donovan Aphamosaic Smartbead James Collier Andrew Dames Technologies Acquired by Synaptics Glenn Collinson Polatis Cambridge Silicon Mark Howard Acquired by Elumin Holotag Radio Richard Doyle founded by Dr. Hans Chris Andrew Dames Sensopad Wagner Davies Cyan Sentec Technologies Stuart Hendry Pelikon Andrew Dames Chris Fryer Technology Absolute Gavin Troughton Chris Sensors Adrian Lucas Sphere Medical Mike Willis Roger Pivotal Imerge Barnardo David Paton David Bending Roundpoint Millar Resources 3D Molecular Mike Willis Cambridge Physical Sciences Steve Temple INCA Digital Sciences Gordon Edge, Elizabeth Hill Xaar Printers Bob Pettigrew Mark Tracy Scientific Nigel Playford Bill Baxter Prelude QuantumBEAM Generics Ionica Will Eve Robert Hook Gordon Edge, Bob Graham Martin Paul Gordon Pettigrew, Alan Green Colin Gray Anson Tim Eiloart Edge Adaptive Screening ELMJET Diomed Tony Raven Mike Will Eve CCL Flying Null PA Mike Crossfield Payne Acquired by Graeme MintoDomino 1960 1970 TTP Videojet David Paton Ross Green, Mike Kellaway Robin Wavedriver Technologies Gerald Avison Smith-Saville Acquired by DCS Cambridge Signal PowerGen Mike Storey Mass Process Ltd Automation Richard Archer Symbionics Partnership Xennia Spectrometry Until 1985 Collin Demerged from Technologies Dennis Smithers TTP Group Alan Hudd Plextek TTPCom Fielder Myriad 1986-1990 Tony Milbourn Transversal John Cassells Barrie Griffiths David Yip Steve Mullock Kore ip.access David McKay Technology Acquired by 1991-1995 Acquired by Mettler-Toledo Cadence Ubinetics Ali TTP Acumen Pourtaheri Tality Ventures Bioscience 1996-2000 David Cornell TTP Richard Philpott Yuno Ltd Radiant Vivid Creativity LabTech John Cassells Networks Stephen Eason Partnership Fen Anne Miller Acquired by 2001-2002 Technology Vetura Tin Bustin, Ciaran McAleer Figure 2 – The hi-tech start-ups spawned from the Cambridge Consultants The emergence of high-technology clusters in Greater Cambridge

50,000 Cambridge University MRC Sinclair Laboratory Radionics Cambridge of Molecular 1960 Interactive Biology CCL System CAD Sinclair Centre Barclays Bank Research Ltd 1970 Glaxo Cambridge PA Eicon Nickerson Science Park Analysys Technology Research Biotech Ltd Laboratory Acorn Hitachi Olivetti Research Cambridge 1980 BP Laboratory Institute of Laboratory Seiko Epson (acquired by Biotechnolog AT&T in 1999) Judge Institute of St. John Research Scientific y Management Innovation TTP Ventures Lab Generics Studies Centre Cantab Toshiba Pharmaceuticals Glaxo Institute Cambridge The Technology Cambridge Research and of Applied Research Partnership Innovation Ltd (CRIL) Pharmacology Laboratory TTP

1990 Amadeus Capital Unilever Cambridge Partners Centre for Molecular Institute of Informatics Entropic Research Manufacturing Cambridge Laboratory (acquired Network by Microsoft in 1999) 2000 Characteristics for High Technology Regions

▪ Universities and centres of academic excellence ▪ Entrepreneurs with marketable ideas and products ▪ Business angels and established seed funds ▪ Sources of early stage venture capital ▪ Core of successful large companies ▪ Quality management teams and talent ▪ Supportive infrastructure ▪ Affordable space for growing businesses ▪ Access to capital markets ▪ Attractive living environment and accommodation ▪ Social and Business Networks

source :- Gibbons - Stanford University 1998 As we get momentum - Overlapping Technologies support Overlapping Business Clusters

HEALTH INFORMATION and COMMUNICATIONS TECHNOLOGY Medical Bio-informatics Telecoms services Medical devices and Networking scientific instruments Computing Bio-pharmaceuticals University/ Research Institutes Wireless

Inkjet printing

Sound & Medical Technology Consulting vision research

Publishing

Basic Research

KNOWLEDGE CREATION Education Charles Darwin – “Natural Selection Adaptability and Survival” Darwin’s Bicentenary this year Natural Selection, Adaptation, Symbiosis Synergy Incubation and Cluster Development

And….We can apply the principle to companies…

Proximity of Learning, Research and Practical Application “The Innovation Campus”

R&D Education

Applications

Where open innovation, symbiosis, synergy and new companies can thrive Completing the Jigsaw – putting technology to work

Customer Technology need

Innovative service company Completing the Jigsaw – Service Delivery Innovation

Innovative Customer Technology service need company

Characteristics of Cambridge Incubators – IT, Bio. and Generalist types all exist – in a Science Park, Innovation Centre and Incubator base ▪ Research and Development and broad Technology skills base ▪ Commercial orientation and focus ▪ Marketing, Finance and Management capabilities in house ▪ Mentors and Advisors integrated ▪ Excellent Networking and Connectivity ▪ Flexible space availability and access Funding Innovative Companies – “Show me the Money $$$$!”- The Funding Challenge

“Our Money” B Family and Friends and Fools A Business Angels N K Seed Funds F I Risk Early Stage VC N A Expansion Capital N C E Pre-IPO ?? Maturity Thinking Of Angels! – How did Business Angels get that name ? “Syndication Nodes” and Business Angels – Connecting in and from Cambridge

▪ Cambridge has four active Angel Groups – Cambridge Angels, Cambridge Capital Group, Equus, G.Eastern Investment Forum ▪ MOUs and Syndication with- Other UK Angels, Sophia Angels ( France) Luxembourg BAN, B.A.of Slovenia,US Angels Networked with all known, useful VCs and Grant bodies ▪ Joint events, Deal and Portfolio Sharing ▪ Common Network and Portfolio Management - Angelsoft ▪ Keeping well informed – eg. French Wealth Tax changes – Transformational impact. ▪ Strong International VC connections Show me the MONEY! – So maybe we can we find investors hanging out here?.... “How do we get to the money ? Where is the $$$$ trail ?” Connecting and Information Points and Principles

▪ Networks and Networking – importance +++++ ▪ Business Schools and Entrepreneurship Centres Region wide and cross border ▪ Other Entrepreneurs / Support and Mentoring Structures ▪ Online Channels – numerous eg…. www.funded.com ▪ “Network Nodes” – Individual referrals ▪ Cross Border contacts ▪ Attitudes and Culture ▪ France and it’s Wealth Tax….Thank you M. Sarkosy ! The Early Stage Business Balance – what do investors look for? In ANY innovative company ?

Inspired

Leadership Management Creativity Enthusiasm Research & Process Bullshit Analysis Market Courage Caution Knowledge Vision Optimism Financial Control

And they like to see experienced Chairman and Directors - Mentors for Innovative young Companies Today – “The Cambridge Phenomenon” – The University Embraces the Modern World – Entrepreneurship in action ▪ More spin offs from University research groups ▪ University people and ideas are now at the core of many of the new technology ventures ▪ University organisations have helped develop the infrastructure of the ‘cluster’ (eg, Trinity College and the Science Park; St John’s College and the Innovation Centre) ▪ Cambridge has become a magnet for hi-tech and biotech companies – Silicon Fen ▪ Academia, Business, Professional Services, Public Policy – working together ▪ Business – University exchanges ++++ Entrepreneur Support and TheCentre for Entrepreneurial Learning (CfEL) History:

▪ 1999 - Cambridge Entrepreneurship Centre (CEC)

▪ 2003 – Centre for Entrepreneurial Learning (CfEL) ▪ Run 40+ courses a year

CfEL Core Design Principles ▪ The best teachers are entrepreneurs ▪ Real-life businesses and problem solving ▪ Focus on the practical ▪ Action learning ▪ Development of own ideas ▪ Building confidence ▪ The power of communication and networking ▪ Explore synergies and make practical connections ▪ Access to network Judge Business School …at the heart of Cambridge University with global reach

Ethos and Values Collegiate structure and learning approach

Cambridge Judge Distinction Multi-disciplinary collaboration

Silicon Fen Proximity to London, Europe’s corporate centre

Page 3 Who’s Who - CfEL Team

Dr. Shai Vyakarnam CfEL Director Katharine Price

Dr. Jo Mills How Do We Work? ▪ Curriculum development by CfEL ▪ Leverage external expertise to deliver – over 200 entrepreneurs and practitioners ▪ Highly customer focus ▪ Constant assessment on quality of programmes Stew McTavish Frances Bycroft ▪ Build on reputation for excellence to create further growth and expansion

Peter Hiscocks Arun Muthirulan (ACHIEVE)

Yupar Myint Orsi Ihasz CfEL’s Entrepreneurs in Residence

Alan Barrell Alex van Walter de Library House Someren Brouwer nCipher Founder of Starlab

Jack Lang Serial Entrepreneur

Dan Roach Avlar Bioventures

Richard Green Ann Cotton John Snyder Phil O’ Donovan Ubisense Camfed Grapeshot Camrivox International CfEL’s Programmes What Some new How to get my How to How to develop How to teach I want to entrepreneurship is all knowledge and idea started survive and and grow entrepreneurshi learn... about skills in business grow in the companies p planning early stages

I’m a CU student and want Undergraduate and Entrepreneurship Postgraduate Assessed as part of my degree Programmes I’m a student or member of staff Enterprise Enterprise Tuesday or local Tuesday (Term 2) entrepreneurial individual (Term 1) I’m a student Enterprisers Ignite: ‘Fast Tracking Innovation’ I’m a Solo Entrepreneur with a technology idea

I’m a Corporate Intrapreneur or Senior Entrepreneurial Managers’ Manager Programm e

I’m an entrepreneur or Summer an Forum entrepreneurial academic Entrepreneurship Courses within the University of Cambridge Undergraduate Graduate Programmes Programmes

▪ Physics ▪ MBA ▪ Chemical Engineering ▪ Chemistry ▪ Materials Science ▪ Earth Science ▪ Computer Science ▪ Graduate School of Biological, Clinical, Medical ▪ Biochemistry and Veterinary Sciences ▪ Architecture

Emerging Technologies Entrepreneurship Taking the journey – Amex, Microsoft, University Faculty • Intensive one-week course for students, solo entrepreneurs and corporate innovators with technology/ knowledge ideas

• Focuses on developing a strategy for each participant’s new venture

• Tailored support to individual project needs through investment readiness, technical and market due diligence, mentoring and expert clinics

• Access to a network of valuable contacts and sources of investment - 100 contributors involved in delivering each programme

• Opportunity to pitch idea to a panel of 8th -14 July 2007 investors, entrepreneurs and corporate Cambridge venture heads • Successful nine year track record! Timetable 8th to 14th July 2007 Research Projects at CfEL

Collaborative Research Projects: •Role of Individuals •Social networks Enterprisers •Entrepreneurial process • • Analysis on Indivers’ entrepreneurial Webcast of • •Development Centres companies and resources (EFER, innovation and venturing Netherlands)

What to • Centrality of Firm: Quantitative How to teach each Analysis (JBS) Entrepreneuria l Skills and Knowledge •Open Innovation with Unilever & Institute of Manufacturing

Born or made • Comparative analysis between Cambridge and Arezzo •Project with neuroscience entrepreneurial clusters (University of •Intuition Siena and University of Florence, •Included in sample at ARC Italy)

• Entrepreneurs - Born or Made (Prof Barbara Sahakian ) Research into importance of Entrepreneur Social Networks – and how they build them – Myint and Vyakarnam

A significant feature of Cambridge cluster: Highly Developed Social Networks of Entrepreneurs

“The majority of high technology companies that have shaped the success of Cambridge cluster are connected to a handful of serial entrepreneurs, business angels and venture capitalists” RealVNC Virtual Network Andy Hopper Merged with Level5Network Computing Andy Hopper Steve Pope Globespan Ubisense Andy Hopper Peter Warton Andy Hopper Cambridge Andy Hopper Andy Ward Broadband IPV (Telemedia Hermann Hauser Acquired by Pete Acquired by American Acquired by AT &T Systems) Andy Hopper Western Virata(ATML) Microwave Steggles Adaptive Multiplex Simon Elliott Broadband Hermann Hauser Corp David Cleevely TerraPrise Amadeus Capital Partners VBN Olivetti Hermann Hauser online Tensails nCipher Research Lab Mike Muller Splashpower Richard Green Alex van Someren Andy Hopper Tudor Brown Acquired by Acquired by Nicko van Someren ARM Broadcom Lily Chang Jamie Urquhart GE ANT Element 14 Icera James Hay Richard Green Small Acquired by Alex van Someren Authur Chance World Olivetti Nicko van Someren Stan Boland Stan Boland Simon Knowles Simon Knowles Dick NewellCambridge Interactive Systems Part of DAKO John Snyder DakoCytomation - Dick Newell, Tom Sancha Diagnostics Webtop Acorn Merged with Charles Lang Hermann Hauser, Chris Keightley Shape Data Hermann IQ Bio Cytomation Inc Peter Duffett-Smith Smartlogik CAD Hauser Netchannel CPS Hermann Hauser Acquired by Acquired by Dialog Hermann Hauser Top Jack Lang NTL Cambridge Jack Lang Electronic Share Jack Lang express University Information Acquired by Muscat Laser-Scan Analysys CDT E* Trade John Snyder R. O. Frisch Enterprise David Cleevely Richard Friend Martin Porter Until 1985 Accelerator John Snyder Cambridge Richard Friend Adam Twiss 1986-1990 Semiconductor Zeus Plastic Logic David Reeves Technology Gehan Amaratunga Florin Udrea Pilgrim Beart David Cleevely ActiveRF ART 1991-1995 Cambridge Hermann Hauser Network Daniel Hall Collin Ager Alec Broers Antenova Garraint Davies Saviso Group Innovia Pilgrim Beart Polight Cambridge Adam Twiss Technologies 1996-2000 3G Bryan Amesbury Stephen Elliott David Cleevely Pavel Krecmer M-Spatial 2001-2002 Adrian Cuthbert Figure 1 - The hi-tech start-ups associated with the Cambridge UniversityJon Billing Acquired by Becker Underwood Merlin Biosciences William Bains Chris Arakis John Caldwell Iain Cubitt Greg Winter Evans Pestex Changed its name Diversys Merged with Andy Amedis to MicroBio Group Xenova Cyclacel Richards pharmaceutic RiboTargets Group Ltd Microscience Vernalis Merlin Venturesal Simon Sturge Ark Therapeutics Chris Evans Chris Evans Iain Cubitt Martin Davies Acquired by Vectura Celsis Axis Genetcs Toad Greg Winter Chris Lowe Prometic ReNeuron Chris Evans Cerebrus BioRobotics Daivd Chiswell J. McCann Biovex Biosciences ChiroTech Chris Evans CAT Chris Evans Cambridge Inc Chris Evans Rapigene Celltech Alan Munro Sensors Chris Lowe Enviros Smart Enzymatix Cantab Merged by Chris Evans Chris Lowe Holograms Pharmaceuticals Celltech Chris Lowe Ken Jones Group Chiroscience MRC LMB Affinity chromatography Chris Evans Genzyme 1960s Chris Lowe Purely Daniel Roach Alan Goodman (UK) - AGC David Bailey LiDCO Proteins Alan Goodman 1984 1985 Philip Dean Terry O’Brien Alan De Novo CeNes Cambridge David Bailey Alan Goodman Goodman University AdproTech Alan Peter Lachmann CORE ATM Biotica Technology Goodman Alan Until 1985 Peter Leadlay Goodman Kudos Jim Staunton Daniel Roach Oxford Pharmaceuticals Alan Goodman Alan Bimedica . Mark Bodmer Stephen Jackson 1986-1990 Hexagen Goodman Peptide Acquired by Incyte Avlar Therapeutics BioVentures Metris Lorantis Alan Goodman Now Acambis Mark Bodmer 1991-1995 Therapeutics Daniel Roach Amura Paradigm Stephen Smith Salix Alan Therapeutics Steve Charnock-Jones pharmaceutical Goodman Holometrica Mark Carlton Astex Abcam Roger Millington Solexa Alan Sense Technology Jonathan Milner 1996-2000 Shankar Goodman Proteomics David Cleevely Tom Blundell Balasubramanian Jonathan Blackburn Jonathan Milner Chris Abell David Klenerman David Cleevely Harren Jhoti Cambridge Theranostics Paul Goldsmith Akubio MC Ivan Petyaev Daniolabs David Klenerman, Tony Minson 2001-2002 Figure 3 – The biotech start-ups from Cambridge University and other individuals

Entrepreneurial Overlap – “Joined Up Thinking and Actions” – Coherence and Common Purpose

EDUCATION & INDUSTRY RESEARCH & including Universities BUSINESS

GOVERNMENT National & Local Building an Enterprise Society. Power of Entrepreneurship, Innovation and Networking- Building “bottom up”

National economy

Regional economic development

Sub-regional development

Building communities of enterprise,social inclusion and common purpose The Cambridge Phenomenon – Fulfilling the Potential – 2004 Report to Government “Greater Cambridge is one of the most dynamic sub- regions within the UK Economy”

➢ GDP growth 6.5% p.a. ( UK 3.4%, USA 3.8%) ➢ Employment Growth 5,000 p.a.(160,000 1971 – 2001) ➢ 3,500 High Technology businesses ➢ 50,000 High Technology jobs ➢ 80% Job Growth ( UK 16 % ) ➢ 360,000 jobs in total ➢ UK Exchequer tax take £5.5 billion ➢ Export value - £2.8 billion ➢ Gross Value Added - £12.2 billion ( 2001 ) The Greater Cambridge Partnership - GCP Super Sub-region

One of Europe’s Innovation Capitals

• University of Cambridge ranked No. 1 in Europe, No.4 in the world • International hub linked to finance and global markets • £12 billion+ economy; 750,000 people • 1,500+ hi-tech companies; 250 biotech companies • 30% of workforce employed in knowledge-based industries • European Union certified centre of excellence for innovation and hi-tech business • Where Entrepreneurship has driven positive development The East of England Region Map of Silicon Valley inset

Cambridge

source: Cambridge 2020 report - 1998 Sources of Competitive Advantage for Greater Cambridge – Entrepreneurial Leadership – brought Positive Innovative Change ▪ Capacity for innovation ▪ Diverse science base and research infrastructure ▪ Capability to diffuse knowledge and experience through collective learning and networking systems ▪ Leading to a functioning knowledge-based cluster ▪ Entrepreneurial business community – enthusiastic to participate in local, regional, national and international programmes of innovation, change and new business creation ▪ Centre for Entrepreneurial Learning in Judge Business School ▪ Open Culture – Community Spirit +++++ ▪ An Enterprise Society of Common Purpose and Social Inclusion – Entrepreneurial Integration and Leadership But for the Future – Beware Arrogance – “Today’s Peacock is Tomorrow’s Feather Duster” In Pursuit of Excellence !

“Excellence can be achieved, if we: Care more than others think is wise, Risk more than others think is safe, Dream more than others think is practical, Expect more than others think is possible.”

Deborah Johnson-Ross

Maybe Entrepreneurs think this way?.... If Academics and Public Policy makers do too….we have a powerful combination….which impacts upon Society and the whole Economy. Thank you for your attention….