Science and Technology Based Regional Entrepreneurship
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Science and Technology Based Regional Entrepreneurship

Global Experience in Policy and Program Development

Edited by Sarfraz A. Mian

Providing a global survey of public policies and programs for building national and regional ecosystems of science and technology based entrepreneurial development, this book offers a unique analysis of the advances, over the last several decades and in light of the experiential knowledge gained in various parts of the world, in the understanding of innovation systems in the pursuit of developing these economies. Presenting nineteen case studies of diverse developed and emerging economy nations and their regions, more than thirty expert authors describe an array of policy and program mechanisms that have been implemented over the years.
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Chapter 3: Stimulating Regional Innovation and Entrepreneurship: The UK Policy Framework

Helen Lawton Smith


Helen Lawton Smith INTRODUCTION The UK’s policy to improve its competitive performance in science and technology (S&T) is heavily geared towards stimulating innovation-led entrepreneurship. While the UK innovation system is performing well overall (EIS, 2006), a number of weaknesses persist. For example, there are too few innovators, potential innovators lack skills and appropriate incentives to innovate, UK spending on R&D lags behind that of competitor countries, and the country has a weak record of turning established strengths in basic research into commercial success (HM Treasury, 2003). Collectively, this results in a persistent lower innovation performance compared to competitors in Europe, Asia and particularly the USA (Coombs et al., 2006), a theme that regularly appears in government reports (e.g. BERR/DIUS). This chapter identifies the UK’s main measures designed to develop a stronger culture of entrepreneurship and innovation, and examines evidence on what has worked and what has not. To do this, the chapter adopts a threefold system failure framework developed by Woolthuis et al. (2005) in order to provide the context for policy intervention. This framework focuses on (i) what kinds of failure occur, (ii) what interactions between different actors (firms, universities etc.) are hindered, the justification for science and innovation based policy choices, and (iii) the evaluation of government policies. The chapter begins by tracing recent developments in the UK science and innovation policy framework, and provides an overview of organizational structures. It proceeds by reviewing the implementation of the four major strands of the policy framework: innovation,...

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