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Helen Lawton Smith Department of Management Birkbeck, University of
Helen Lawton Smith Department of Management Birkbeck, University of
What are the features of Oxfordshires new economy
What are the features of Oxfordshires new economy
Main sources of evidence used today
Main sources of evidence used today
Assessing the innovativeness of a region
Assessing the innovativeness of a region
Storper and an evolutionary economic geography approach
Storper and an evolutionary economic geography approach
Examples of other conceptual models relating to innovative
Examples of other conceptual models relating to innovative
Governance: entrepreneurial regions
Governance: entrepreneurial regions
An economic transformation: from a rural town with a famous university
An economic transformation: from a rural town with a famous university
Oxfordshires new economy: exceptional features
Oxfordshires new economy: exceptional features
Helen Lawton Smith Department of Management Birkbeck, University of
Helen Lawton Smith Department of Management Birkbeck, University of
Helen Lawton Smith Department of Management Birkbeck, University of
Helen Lawton Smith Department of Management Birkbeck, University of
computer, electronic and optical products (3,500 employees), motor
computer, electronic and optical products (3,500 employees), motor
Anchor high-tech firms
Anchor high-tech firms
Oxfordshire labour market
Oxfordshire labour market
GVA per hour in Oxfordshire, Source ONS, 2013
GVA per hour in Oxfordshire, Source ONS, 2013
Percentage of employed residents in SOC 1-3 in Oxfordshire
Percentage of employed residents in SOC 1-3 in Oxfordshire
Helen Lawton Smith Department of Management Birkbeck, University of
Helen Lawton Smith Department of Management Birkbeck, University of
Skills enhancement and development in sustaining growth
Skills enhancement and development in sustaining growth
Universities and local economic development
Universities and local economic development
Science and technology-based assets
Science and technology-based assets
Helen Lawton Smith Department of Management Birkbeck, University of
Helen Lawton Smith Department of Management Birkbeck, University of
Isis Innovation, Oxford University technology transfer company (1988,
Isis Innovation, Oxford University technology transfer company (1988,
Locational factors mid-1980s
Locational factors mid-1980s
2011 Questionnaire Objective: what was locally important more or less
2011 Questionnaire Objective: what was locally important more or less
Reasons for being in Oxfordshire
Reasons for being in Oxfordshire
Illustrative companies
Illustrative companies
SOPHOS
SOPHOS
Number of Sophos R&D Centres
Number of Sophos R&D Centres
Relevance of regions for Sophos Recruitment
Relevance of regions for Sophos Recruitment
The Three Most Important Reasons for SOPHOS to Stay in Oxfordshire
The Three Most Important Reasons for SOPHOS to Stay in Oxfordshire
MR Magnets: three most important reasons for remaining in Oxfordshire
MR Magnets: three most important reasons for remaining in Oxfordshire
Local governance
Local governance
Sustaining growth: the research base and local growth strategies
Sustaining growth: the research base and local growth strategies
Conclusions: sustaining growth - what needs to be overcome
Conclusions: sustaining growth - what needs to be overcome

: Helen Lawton Smith Department of Management Birkbeck, University of London Oxfordshire Economic Observatory, Oxford University Presentation at Department of Planning Seminar Series, Oxford Brookes University, March 6 2014. : Odile Janne. : Helen Lawton Smith Department of Management Birkbeck, University of London Oxfordshire Economic Observatory, Oxford University Presentation at Department of Planning Seminar Series, Oxford Brookes University, March 6 2014.ppt. zip-: 296 .

Helen Lawton Smith Department of Management Birkbeck, University of London Oxfordshire Economic Observatory, Oxford University Presentation at Department of Planning Seminar Series, Oxford Brookes University, March 6 2014

Helen Lawton Smith Department of Management Birkbeck, University of London Oxfordshire Economic Observatory, Oxford University Presentation at Department of Planning Seminar Series, Oxford Brookes University, March 6 2014.ppt
1 Helen Lawton Smith Department of Management Birkbeck, University of

Helen Lawton Smith Department of Management Birkbeck, University of

London & Oxfordshire Economic Observatory, Oxford University Presentation at Department of Planning Seminar Series, Oxford Brookes University, March 6 2014

What is the new economy in Oxfordshire?

2 What are the features of Oxfordshires new economy

What are the features of Oxfordshires new economy

How is it similar and different to the old economy? What are its exceptional features? How is it changing? As an entrepreneurial region, how is it being sustained?

Overview

3 Main sources of evidence used today

Main sources of evidence used today

DPhil thesis School of Geography Oxford University 1990 The Location and development of advanced technology industry in Oxfordshire in the context of the research environment Current study- where are they now? OEO reports since 2001 oeo.geog.ox.ac.uk including Enterprising Oxford (2003, 2007) OEO team: Lawton Smith, Glasson, Chadwick, Romeo, Waters OEO contribution to SQW Oxford Innovation Engine Report (2013) Lawton Smith, Glasson et al (2013) Enterprising Regions:evidence from Oxfordshire and Cambridgeshire

4 Assessing the innovativeness of a region

Assessing the innovativeness of a region

what is specifically regional in the innovative process in the region under consideration? Direct and indirect evidence what are the alternative possible explanations for regional economic performance in the regions under consideration? what is the conceptual model of this relationship? (Storper 2000)

5 Storper and an evolutionary economic geography approach

Storper and an evolutionary economic geography approach

it is not enough to simply summarize the evidence on regional high-technology growth in the 1990s, with standard indicators such as number and size of firms, employment, some remarks on products, etc. But that is not generally what is meant in the literature by evolutionary. This term comes specifically from evolutionary economics, and is inherently tied up with notions such as interdependence among actors, the way that such interdependencies and spillover effects create histories and render certain kinds of developments possible and impossible, and so on, all of which are generally summarized in the notion of path dependencies. To analyze such path dependencies (or evolutionary trajectories), then, there has to be careful attention to the factors that bind actions together and generate specific pathways in time and space. Its much more than just describing, however competently, the fact of how a given regional high tech economy grew in the 1990s. (Storper 2000)

6 Examples of other conceptual models relating to innovative

Examples of other conceptual models relating to innovative

entrepreneurship and regional growth

Innovative milieux (Camagni 1991) Regional innovation systems (Cooke 1992) Clusters (e.g. Porter 1995) Knowledge spillover theory of entrepreneurship (Audretsch and Keilback 1995) Feldman and Francis (2006) three stage growth model Regional triple helix spaces (Etzkowitz 2008) Fritsch and Schindele 2011 labour markets and entrepreneurial activity

7 Governance: entrepreneurial regions

Governance: entrepreneurial regions

entrepreneurial regions are defined by growing high levels of entrepreneurship and innovation, and as regions with outstanding entrepreneurial visions (EU, 2013). must also be places where there is co-ordinated entrepreneurial activity to put those visions into practice so that ecosystems function effectively. agency of research institutions, local government, skills agencies and so on working together.

8 An economic transformation: from a rural town with a famous university

An economic transformation: from a rural town with a famous university

a car industry to a high tech economy

Oxfordshire was in the top 19 counties of high technology industry in 1981 (Hall 1985) and R&D did not feature in the list of key sectors in the City of Oxford in that year. Highest employment categories in Oxford City motor vehicle manufacture and education both 16% (8.5% and 12.3% respectively in the county) Mid-1980s, 182 R&D-intensive advanced technology firms employing 10,659 people 35 university spin-offs late 1990s - developing as a national and internationally important high-tech economy based in the South East of England, part of the Thames Valley, itself the richest and most dynamic economy in the UK outside London (Economic Development Strategy for Oxfordshire 1998/9, 4). 2014 growing high-tech economy but on some indicators is underperforming comparator regions Cambridgeshire and Thames Valley

9 Oxfordshires new economy: exceptional features

Oxfordshires new economy: exceptional features

Rapidly growing number of high-tech firms, clustered in a few sectors (manufacturing and service) strong science base highly skilled labour market anchor high-tech firms business survival rates better than England levels and any other county council area. Networks e.g. Oxford Trust (Science Oxford), OBN, Venturefest

10 Helen Lawton Smith Department of Management Birkbeck, University of
11 Helen Lawton Smith Department of Management Birkbeck, University of
12 computer, electronic and optical products (3,500 employees), motor

computer, electronic and optical products (3,500 employees), motor

vehicle manufacture (3,500), publishing activities (5,500), computer related activities (8,200), engineering & technical consultancy (7,100) scientific research and development (5,700). Biomedical sector??

Oxfordshires largest high tech sectors (wider definition) by employment 2013

13 Anchor high-tech firms

Anchor high-tech firms

Some earliest firms and largest firms originated in Oxford University or had a university connection Penlon 1943 Littlemore Scientific Engineering Ltd 1953 Oxford Instruments 1959 Research Machines (RM), 1973 Sophos 1981

14 Oxfordshire labour market

Oxfordshire labour market

One of most highly qualified labour markets in the county Three-fifths of Oxford residents in employment are in managerial or professional occupations, compared to around two-fifths in Great Britain 2011, 21,000 students at Oxford University, 11,752 UGs and 9, 621 PGs Rising student numbers e.g. Oxford University had only 5,312 PG students in 2000/1 hence a rise of over 5000 in 10 years About a third Oxford University (32.62%) and Oxford Brookes University (34.6%) students stay in the county after their first degree.

15 GVA per hour in Oxfordshire, Source ONS, 2013

GVA per hour in Oxfordshire, Source ONS, 2013

16 Percentage of employed residents in SOC 1-3 in Oxfordshire

Percentage of employed residents in SOC 1-3 in Oxfordshire

Managers, directors and senior officials

A significant amount of knowledge and experience of the production processes and service requirements associated with the efficient functioning of organisations and businesses.

Professional occupations

A degree or equivalent qualification, with some occupations requiring postgraduate qualifications and/or a formal period of experience-related training.

Associate professional and technical occupations

An associated high-level vocational qualification, often involving a substantial period of full-time training or further study. Some additional task-related training is usually provided through a formal period of induction.

17 Helen Lawton Smith Department of Management Birkbeck, University of
18 Skills enhancement and development in sustaining growth

Skills enhancement and development in sustaining growth

Education Oxford University Said Business School & Dept of Cont. Ed Oxford University entrepreneurship education. Oxford Brookes Apprenticeships Training provided by government labs and Oxford University Specialist motorsport training New university technical college in Didcot vocational education focusing on science and engineering

19 Universities and local economic development

Universities and local economic development

20 Science and technology-based assets

Science and technology-based assets

Global brand, conveying an image of academic excellence Oxford University, with outstanding research and teaching, and Oxford Brookes, one of the best performing new UK universities Unique grouping of big science and other research facilities, including the UK Atomic Energy Authority (UKAEA) Centre for Fusion Research; the Science and Technology Facilities Council (STFC) Rutherford Appleton Laboratory; Diamond Light Source, the UKs synchrotron facility; the Medical Research Councils facilities at Harwell, and the Satellite Applications Catapult Centre High level military education at Shrivenham (Cranfield U).

21 Helen Lawton Smith Department of Management Birkbeck, University of
22 Isis Innovation, Oxford University technology transfer company (1988,

Isis Innovation, Oxford University technology transfer company (1988,

1997)

Isis Angels Network 1988 Oxford Innovation Society 1990 Review of Technology Transfer Arrangements 1994 New CEO of Isis Innovation 1997 Oxford University Consulting 2001 Oxford Spin-out Equity Management 2008 Oxford Invention Fund 2011

23 Locational factors mid-1980s

Locational factors mid-1980s

Proximity to the founders home was the critical factor; 87 establishments (53%) gave this as a reason. 17% spin-offs by existing companies (17) Access to labour was mentioned by only 20 establishments of much more significance for manufacturing than for R & D establishments and not at all for software houses. 8 manufacturing firms, 2 R & D and 2 s/w gave access to technical information was the most important reason (7.3%). Very few were likely to move out of the county 20 establishments moved into Oxfordshire. Overseas rather than local markets important High levels of local subcontracting

24 2011 Questionnaire Objective: what was locally important more or less

2011 Questionnaire Objective: what was locally important more or less

than in previous decades?

Companys sector focus and product portfolio Companys human resources The Oxfordshire location Companys engagements with academia, research laboratories, local companies and public authorities Companys financial and innovation performance Companys internationalization Other insights into the relevance of the Oxfordshire location to the firm and its growth.

25 Reasons for being in Oxfordshire

Reasons for being in Oxfordshire

Source: Survey 2010--2011, Survey 1996-1997, Survey 1986-1987: 7 companies

26 Illustrative companies

Illustrative companies

Date established

Type

Employees 2012/13

NAG (Numerical Analysis Group)

1976

Scientific and technical software

90

Penlon

1943

Medical instrumentation - anaesthetics

47

SOPHOS

1981

ICT data security and protection

1682

MR Magnet Technology

1983

Medical Instruments - imaging

470

27 SOPHOS

SOPHOS

Source: Survey 1986-1987, Survey 1996-1997, Survey 2011-2012

28 Number of Sophos R&D Centres

Number of Sophos R&D Centres

Source: Survey 1986-1987, Survey 1996-1997, Survey 2011-2012 I

29 Relevance of regions for Sophos Recruitment

Relevance of regions for Sophos Recruitment

Source: Survey 1986-1987, Survey 1996-1997, Survey 2011-2012

30 The Three Most Important Reasons for SOPHOS to Stay in Oxfordshire

The Three Most Important Reasons for SOPHOS to Stay in Oxfordshire

Source: Survey 1986-1987, Survey 1996-1997, Survey 2011-2012

Survey 2011-2012

Survey 1996-1997

Survey 1986-1987

First important reason to stay in Oxfordshire

Founders/key staff home

Attractive local living environment for staff and directors

Pleasantness of surroundings

Second important reason to stay in Oxfordshire

Access to skilled labour

Access to high quality skilled labour (research staff in particular)

Close to founder's home

Third important reason to stay in Oxfordshire

Presence of other high technology firms and services

Reputation and prestige of a Cambridge/Oxford address

Oxford image

31 MR Magnets: three most important reasons for remaining in Oxfordshire

MR Magnets: three most important reasons for remaining in Oxfordshire

32 Local governance

Local governance

City Deals (2012) (National Funding) intended to give participating areas ability to use funds better for local needs such as training and skills, roads etc. Oxford and Oxfordshire City Deal vision to accelerate the growth of the city regions knowledge-based economy Regional Growth Fund (National Funding) 2.6 billion fund across England 2011 - 2016, which supports projects and programmes that are using private-sector investment to create economic growth and sustainable employment Oxford and Oxfordshire Local Economic Partnership (LEP) Both universities represented at the Pro-Vice Chancellor level http://www.oxfordshirelep.org.uk/cms/

33 Sustaining growth: the research base and local growth strategies

Sustaining growth: the research base and local growth strategies

Science Vale UK Harwell, Milton Park, two local district councils (Vale of White Horse and South Oxfordshire), the Oxfordshire Local Economic Partnership, Oxfordshire County Council and the Science and Technology Facilities Council (STFC) http://www.sciencevale.com/ University science parks, proposed bioescalator and University of Oxfords plans for growth

34 Conclusions: sustaining growth - what needs to be overcome

Conclusions: sustaining growth - what needs to be overcome

Numerous interconnected factors responsible for high tech economy growth relating to its exceptional features But 2013 SQW report highlighted Chronic shortage of early stage investment capital + intransigent banks Extensive national visa requirements for highly-skilled foreign workers. Lack of leadership from within Oxford University in local systems of governance + lack of leadership per se? Lack of linkages between University of Oxford and high-tech firms. National policy works on assumptions that more effect needs to be invested in local growth strategies focused on innovation must therefore be things to fix!

Helen Lawton Smith Department of Management Birkbeck, University of London Oxfordshire Economic Observatory, Oxford University Presentation at Department of Planning Seminar Series, Oxford Brookes University, March 6 2014
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