Entrepreneurial regions: Evidence from Oxfordshire and Cambridgeshire

Abstract

Understanding the growth of entrepreneurial regions and the extent to which the actors in the triple helix model are dominant at particular stages in development is the theme of this article. Both Oxfordshire and the Cambridge sub-region are important high-tech economies dominated by historic universities, Oxford and Cambridge (often referred to collectively as Oxbridge), two of the world’s leading research universities. As entrepreneurial regions, however, they differ in a number of respects. In the article different dynamics leading to the inception, implementation, consolidation and renewal of regions characterized by very high levels of technology-based entrepreneurship are explored. It is argued that, although they are leading locations of multiple clusters of high-tech firms, they could have been more successful in creating more and bigger firms. It is proposed that part of the explanation lies in the relative lack of engagement of their major assets (the universities) in leading local economic development.