Regional Innovation Incubation and The University Entrepreneurial Leadership

Regional Innovation, Incubation and The University Entrepreneurial Leadership and The Cambridge Model “The Cambridge Phenomenon” Professor Alan Barrell Hosei University, Tokyo February 26 th 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 “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” Thomas Jefferson 1778

And what about these… “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… “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” Marcus Cicero 55 BC

But - think Boom …. not Gloom…. many successful businesses started in recessions…. “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 Technology Environment Issues The death of deference Globalisation New employment patterns

Sources of Competitiveness Learning Creativity Speed Cost Information Risk Reputation Values

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

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 Jobs: 359, 000 GVA: £ 12. 2 bn

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 Berlin Wall Hasselhof China Completely new markets Migrations Within and into Europe Is there a shift in economic centre of gravity? Single Economic system

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 Source: Analysys, World Bank and ITU All SMS

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

1960 – The “Columbus Spirit” hits Cambridge – and a Cluster emerges • 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 $750 millions+ • 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 Printing Sciences 1978 Willett International Ltd 1983 • • • Elmjet Ltd 1986 Linx Printing Technologies 1986 Support to Imaje (France) formed 1979 Xaar Printing Technologies 1990 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! INCA Ltd 2000

Steve Barlow Robert Swann Aphamosaic Caroline Garey Phil O’ Donovan Smartbead Andrew Dames James Collier 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 Stuart Hendry Technologies Pelikon Andrew Dames Chris Fryer Absolute Technology Gavin Troughton Adrian Lucas Sphere Medical Chris Sensors Mike Willis Roger Pivotal Imerge Barnardo David Paton David Bending Roundpoint 3 D Molecular Millar Resources Mike Willis Cambridge Physical Sciences Steve Temple INCA Digital Gordon Edge, Elizabeth Hill Sciences Xaar Printers Bob Pettigrew Mark Tracy Scientific Nigel Playford Bill Baxter Prelude Quantum. BEAM Ionica Generics Will Eve Robert Hook Gordon Edge, Bob Graham Martin Paul Pettigrew, Alan Green Gordon Colin Gray Anson Tim Eiloart Adaptive Screening Edge Diomed Tony Raven Will Eve ELMJET Mike Payne CCL Flying Null PA Mike Crossfield Acquired by Graeme Minto Domino TTP 1960 1970 Videojet Ross Green, Mike Kellaway David Paton Robin Wavedriver Technologies Gerald Avison Acquired by Smith-Saville DCS Cambridge Signal Power. Gen Mike Storey Automation Mass Process Ltd Richard Archer Symbionics Partnership Spectrometry Until 1985 Xennia Demerged from Collin Dennis Technologies TTP Group Smithers Plextek Alan Hudd TTPCom Fielder Myriad 1986 -1990 Tony Milbourn Transversal John Cassells Barrie Griffiths David Yip ip. access Steve Mullock Kore David Mc. Kay Technology 1991 -1995 Yuno Ltd 1996 -2000 Vivid Stephen Eason Acquired by Vetura Ubinetics Ali Pourtaheri Tality Radiant Networks 2001 -2002 Acquired by Mettler-Toledo Acquired by Cadence TTP Ventures Acumen Bioscience TTP Richard Philpott Lab. Tech John Cassells David Cornell Creativity Partnership Fen Anne Miller Technology Tin Bustin, Ciaran Mc. Aleer Figure 2 – The hi-tech start-ups spawned from the Cambridge Consultants

The emergence of high-technology clusters in Greater Cambridge 50, 000

Cambridge Interactive System University MRC Laboratory of Molecular Biology Sinclair Radionics 1960 CCL CAD Centre Sinclair Research Ltd Barclays Bank 1970 Cambridge Science Park Analysys Glaxo PA Technology Acorn Seiko Epson Research Lab Olivetti Research Laboratory (acquired by AT&T in 1999) Toshiba Cambridge Research Laboratory 1980 Judge Institute of Management Studies St. John Innovation Centre Cambridge Research and Innovation Ltd (CRIL) Scientific Generics The Technology Partnership TTP 1990 Unilever Cambridge Centre for Molecular Informatics Cambridge Network Nickerson Biotech Laboratory Eicon Research Ltd Institute of Biotechnolog y Hitachi Cambridge Laboratory Cantab Pharmaceuticals Amadeus Capital Partners Institute of Manufacturing 2000 Entropic Research Laboratory (acquired by Microsoft in 1999) BP TTP Ventures Glaxo Institute of Applied Pharmacology

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 Medical services Bio-informatics Telecoms Medical devices and scientific instruments INFORMATION and COMMUNICATIONS TECHNOLOGY Networking Computing Bio-pharmaceuticals University/ Research Institutes Wireless Inkjet printing Medical research Technology Consulting Publishing Basic Research KNOWLEDGE CREATION Education Sound & vision

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 need Technology Innovative service company

Completing the Jigsaw – Service Delivery Innovation Technology Innovative service company Customer need

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 A Family and Friends and Fools N K Risk Business Angels Seed Funds Early Stage VC Expansion Capital Pre-IPO Maturity F I N A N C E ? ?

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 Creativity Vision Enthusiasm Bullshit Courage Optimism Management Research & Analysis Caution Process Market Knowledge 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 The. Centre for Entrepreneurial Learning (Cf. EL) History: § 1999 - Cambridge Entrepreneurship Centre (CEC) § 2003 – Centre for Entrepreneurial Learning (Cf. EL) § Run 40+ courses a year Cf. EL 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

Who’s Who - Cf. EL Team Dr. Shai Vyakarnam Cf. EL Director Dr. Jo Mills Katharine Price How Do We Work? § § Frances Bycroft § Curriculum development by Cf. EL Leverage external expertise to deliver – over 200 entrepreneurs and practitioners Highly customer focus Constant assessment on quality of programmes Stew Mc. Tavish Build on reputation for excellence to create further growth and expansion Arun Muthirulan Peter Hiscocks (ACHIEVE) Yupar Myint Orsi Ihasz

Cf. EL’s Entrepreneurs in Residence Alex van Someren Alan Barrell Library House n. Cipher Walter de Brouwer Founder of Starlab Jack Lang Serial Entrepreneur Dan Roach Avlar Bioventures Richard Green Ubisense Ann Cotton Camfed International John Snyder Grapeshot Phil O’ Donovan Camrivox

Cf. EL’s Programmes I want to learn. . . What entrepreneurship is all about Some new knowledge and skills in business planning I’m a CU student and want Entrepreneurship as part of my degree Undergraduate and Postgraduate Assessed Programmes I’m a student or member of staff or local entrepreneurial individual Enterprise Tuesday (Term 1) I’m a student Enterprisers How to get my idea started How to survive and grow in the early stages How to develop and grow companies How to teach entrepreneurshi p Enterprise Tuesday (Term 2) Ignite: ‘Fast Tracking Innovation’ I’m a Solo Entrepreneur with a technology idea I’m a Corporate Intrapreneur or Entrepreneurial Manager I’m an entrepreneur or an entrepreneurial academic Senior Managers’ Programm e Summer Forum

Entrepreneurship Courses within the University of Cambridge Undergraduate Programmes Graduate Programmes § § § § § Physics Chemical Engineering Materials Science Computer Science Biochemistry Architecture MBA Chemistry Earth Science Graduate School of Biological, Clinical, Medical and Veterinary Sciences 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 8 th -14 July 2007 Cambridge • Opportunity to pitch idea to a panel of investors, entrepreneurs and corporate venture heads • Successful nine year track record!

Timetable 8 th to 14 th July 2007

Research Projects at Cf. EL Collaborative Research Projects: • Role of Individuals • Social networks • Entrepreneurial process of innovation and venturing • Enterprisers • Webcast • Development Centres What to each How to teach Entrepreneuria l Skills and Knowledge Born or made • Project with neuroscience • Intuition • Included in sample at ARC • Analysis on Indivers’ entrepreneurial companies and resources (EFER, Netherlands) • Centrality of Firm: Quantitative Analysis (JBS) • Open Innovation with Unilever & Institute of Manufacturing • Comparative analysis between Cambridge and Arezzo entrepreneurial clusters (University of Siena and University of Florence, 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”

Real. VNC Virtual Network Merged with Andy Hopper Level 5 Network Computing Globespan Andy Hopper Steve Pope Andy Hopper Ubisense Peter Warton Andy Hopper Cambridge Andy Hopper Andy Ward Acquired by IPV (Telemedia Hermann Hauser Broadband American Acquired by Pete Western Acquired by AT &T Systems) Andy Hopper Microwave Virata(ATML) Steggles Multiplex Adaptive Simon Elliott Hermann Hauser Corp Broadband Terra. Prise David Cleevely Amadeus Capital Partners VBN Olivetti Hermann Hauser Tensails n. Cipher online Research Lab Alex van Someren Mike Muller Splashpower Richard Green Andy Hopper Acquired by Tudor Brown Acquired by Nicko van Someren Broadcom ARM Jamie Urquhart Lily Chang GE ANT Element 14 Icera Acquired by Richard Green Small Alex van Someren James Hay Olivetti Stan Boland Authur Chance World Nicko van Someren Simon Knowles Dick Newell Cambridge Interactive Systems Part of DAKO Dako. Cytomation John Snyder Dick Newell, Tom Sancha Diagnostics Merged with Webtop Acorn Charles Lang Hermann Hauser, Chris Keightley Cytomation Inc Hermann IQ Bio Shape Data Peter Duffett-Smith Smartlogik CAD Hauser Netchannel Acquired by CPS Hermann Hauser Acquired by Dialog Hermann Hauser NTL Top Jack Share Cambridge Jack Lang Electronic Lang Jack Lang express University Information Muscat John Snyder Martin Porter Laser-Scan Analysys R. O. Frisch David Cleevely Enterprise Accelerator John Snyder Cambridge Adam Twiss Zeus Semiconductor David Reeves Technology Gehan Amaratunga Florin Udrea Pilgrim Beart Active. RF Saviso Group Adam Twiss Bryan Amesbury Pilgrim Beart Richard Friend Plastic Logic 1986 -1990 ART David Cleevely Cambridge Hermann Hauser Network Alec Broers 1991 -1995 Collin Ager Garraint Davies Innovia Polight Technologies Stephen Elliott Pavel Krecmer 1996 -2000 Cambridge 3 G David Cleevely M-Spatial 2001 -2002 Adrian Cuthbert Jon Billing Figure 1 - The hi-tech start-ups associated with the Cambridge University Acquired by E* Trade Richard Friend Until 1985 Daniel Hall Antenova CDT

Acquired by Becker Underwood Merlin Biosciences William Bains Chris Arakis Greg Winter John Caldwell Iain Cubitt Evans Changed its name Merged with Pestex Diversys Andy Amedis to Micro. Bio Group Xenova Cyclacel Richards Ribo. Targets pharmaceutic Group Ltd Microscience Vernalis al Merlin Ventures Simon Sturge Ark Therapeutics Chris Evans Iain Cubitt Martin Davies Acquired by Vectura Celsis Axis Genetcs Toad Greg Winter Chris Lowe Prometic Re. Neuron Chris Evans Cerebrus Bio. Robotics Daivd Chiswell J. Mc. Cann Biosciences Biovex Chiro. Tech Chris Evans CAT Inc Chris Evans Cambridge 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 Chiroscience MRC LMB Affinity chromatography Group Chris Evans Genzyme Chris Lowe 1960 s Purely Daniel Roach Alan Goodman (UK) - AGC David Bailey Li. DCO Proteins Alan Goodman 1985 1984 Philip Dean Terry O’Brien Alan De Novo Cambridge Ce. Nes David Adpro. Tech Bailey Alan Goodman University Alan Peter Lachmann CORE ATM Biotica Technology Goodman Until 1985 Alan Peter Leadlay Goodman Kudos Jim Staunton Daniel Roach Oxford Pharmaceuticals Alan Goodman Alan Bimedica. Mark Bodmer Stephen Jackson Hexagen 1986 -1990 Acquired by Incyte Peptide Goodman Avlar Therapeutics Metris Lorantis Bio. Ventures Alan Goodman Mark Bodmer Now Acambis Therapeutics 1991 -1995 Daniel Roach Amura Paradigm Stephen Smith Salix Alan Therapeutics Steve Charnock-Jones pharmaceutical Holometrica Mark Carlton Goodman Astex Abcam Roger Millington Solexa Alan Sense Technology Jonathan Milner 1996 -2000 Shankar Balasubramanian Goodman Proteomics Tom Blundell David Cleevely Jonathan Blackburn David Klenerman Jonathan Milner Chris Abell David Cleevely Paul Goldsmith Akubio Harren Jhoti Cambridge Theranostics 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 & RESEARCH including Universities INDUSTRY & 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 subregions within the UK Economy” Ø Ø Ø Ø Ø 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…. More on my website – www. alanbarrell. com E-mail – alan@alanbarrell. com