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Cambridge in Context

Cambridge in Context. Jody Chatterjee Executive Director, Enterprise - EEDA April 2007. What I will cover. East of England in national and international context R&D, innovation in the East of England Cambridge – current performance and future growth What EEDA is doing .

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Cambridge in Context

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  1. Cambridge in Context Jody Chatterjee Executive Director, Enterprise - EEDA April 2007

  2. What I will cover • East of England in national and international context • R&D, innovation in the East of England • Cambridge – current performance and future growth • What EEDA is doing

  3. The 9 Regional Development Agencies in England

  4. Productivity is high by national standards but lags behind London and South East

  5. Greater South East (GSE) • GSE = East of England, London and South East regions • The performance of the whole of the GSE has declined • World Knowledge Competitiveness Index rankings • East of England 62nd in 2005 (out of 125 world regions) down 12 places from its position in 2004. • London (56th) down 10 places; South East (55th) down 15 places • US and Scandinavian regions • much higher capability of turning knowledge/creative inputs into sustainable growth and economic output • Asia-Pacific regions • rising quickly up knowledge competitiveness rankings

  6. GSE importance to UK - regional balance sheet (OEF 2007)

  7. GSE – intra-region variation in performance

  8. Areas of strength Core of EU Research Area (Espon 2004) Highest R&D investment by private sector as % of GVA of English regions Highest level of EU business R&D partnering 2nd highest level of non-EU international R&D business partnering Leading English region in terms of new product to market Cambridge ranked 2nd in Shanghai Index of global universities Significant number of 5* departments and world-leading research facilities Areas for development Community Innovation Survey suggests low levels of innovation across economy as a whole Major east-west split Knowledge intensive firms Venture finance Skills base East of England – R&D performance

  9. R&D spend does not translate to innovative businesses

  10. East of England – International Migration • Net inflow to UK in 2005 of 185,000 people • Luton (19.7%), Cambridge (19.2%) and Forest Heath (23.0% - US Airbase effect) have highest levels of foreign-born population of East of England districts • Rapid rise from EU accession states and Portugal

  11. Greater Cambridge – current performance • Between 1971-2001 employment growth of 80% • Five times that of UK in equivalent period • Cambridge ‘technopole’ • 1,500 hi-tech ventures • 45,000 jobs in hi-tech sector • 128,000 jobs in knowledge-based sectors (33% of employment) • Cambridge home to the largest concentration of seed and venture capital outside London, and in 2004 secured: • 25% of UK venture capital • 8% of EU venture capital

  12. Greater Cambridge – major assets • University of Cambridge • Ranked second in Shanghai Global university Index • Cambridge has higher level of research income than Harvard • 59% of departments 5*, further 35% rated at 5 • 4,700 research postgraduates • Anglia Ruskin University • Major strengths in applied research • 11 major science/business parks • Level 3 and 4 qualification rates above national rate • Market-leading companies and research institutes • Highly networked – locally and globally

  13. Greater Cambridge – future forecasts • Greater Cambridge total employment growth of 23% 2001-2021 • Hi-tech employment growth 21% 2002-2021 • Smaller % of total employment in Greater Cambridge by 2021 • But UK forecast for hi-tech job growth static to 2021 • Therefore Greater Cambridge will account for 2.2% of UK hi-tech jobs by 2021, up from 1.8% • Knowledge-based jobs forecast to rise by 45,000 by 2021, accounting for 36% of total employment (Roger Tym/GVA report for GCP & EEDA)

  14. Cambridge in regional context – labour market effect • Cambridge highest ratio of people working in urban area v. people living in the urban area and in work • 4th largest urban labour market in region (well above scale as a population centre) • This underplays wider sub-regional labour market because of diffusion beyond the city boundary (SQW Census 2001 – data for continuous urban areas) Cambridge

  15. Cambridge – major regional growth pole to 2021 and beyond • RSS Jobs growth to 2021

  16. Key challenge 1 – Diffusing/replicating the Cambridge phenomenon? Diffusion • Structural transformation underway in wider sub-region • Need for leading business infrastructure • Requires positive planning framework • Ensuring availability of direct and supporting skills and capability Replication – what is possible? • Understand drivers of current performance • Global university • Laissez-faire approach to exploitation of research, development and innovation (but changing) • World leading clusters • Finance • Networked: within Cambridge and to global pipelines • Co-opetition ethos • Entrepreneurial academics, students and business people

  17. Key challenge 2 – Maintaining Cambridge’s global competitiveness • University – increasing funding and leverage value • Infrastructure challenges • housing affordability; transport, education and health infrastructure • Cultural offer to attract and embed mobile businesses and talented people • Addressing mezzanine finance gap • Business support access and offer • Creating and embedding companies in the region – ‘Gorillas’

  18. What is EEDA doing? • Enterprise hub programme • Transformation of business support • Access to finance – proof of concept, R&D grants, RVCF • Running the Gauntlet • Destination Growth • Infrastructure investment work with Cambridgeshire Horizons and Greater Cambridge Partnership • Supply chain development

  19. Issues • Why is it proving difficult to replicate the Cambridge phenomenon in this region and elsewhere? • Is the Cambridge phenomenon a product of a special group of people around some specific sectors during an unusual period of time with particular types assets and resources? • Do we have to accept that there will be different models in different circumstances/geographies? • What lessons can we learn and adopt or adapt in other situations? • Should we expect Cambridge to be the ‘driver’ for the regional economy? • How far can a modest city/town be expected to be the driver for the regional economy? • Can we expect a global ‘business’ (the University) to also play on a regional or local level? • How can a regional economic development agency or government help to create the environment to encourage another ‘phenomenon’?

  20. Summary • The Cambridge phenomenon is unusual and almost unique….but there are lessons that can be adapted and applied elsewhere • The phenomenon has matured into a model that works for those involved • It is still developing and transforming and may deliver ‘further’ sustainable benefits to the region

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