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Sustaining the spirit of enterprise
LESSONS FROM THE CAMBRIDGE CLUSTER
Shailendra Vyakarnam
Visiting Professor - Nottingham Business School
Director – Centre for Entrepreneurial Learning
Founder Director - Transitions
November 2003
Presentation Agenda
• Cluster development – beware the unit of analysis
• The “real” story behind the Cambridge Phenomenon
•What we learn about the entrepreneurial spirit
•Multiple roles of entrepreneurs
• Conclusions – and questions
Characteristics for High Technology Regions
Gibbon’s Top 10
• 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
Industry Clusters..
There are many contributory factors have been cited for the success of
Cambridge such as:
•the strength of University research,
•the availability of finance in the early days from Barclays Bank,
•and the relaxed approach that the University took to IP transfer.
However, one of the key factors that is most difficult to quantify is the importance of networks,
both social and professional, that bind the Cambridge companies together in a
close community.
At the centre of these networks move a small number of key individuals –
habitual entrepreneurs – who are believed to have an important influence on the success of
the cluster through providing advice to new entrepreneurs, identifying promising opportunities and providing angel
investment.
MRC
Cambridge Sinclair
Laboratory of University
Radionics
Cambridge Molecular 1960
Interactive Biology
CCL
System Barclays Bank
CAD Sinclair
Centre Research Ltd
1970 Glaxo
Cambridge
PA Eicon Nickerson
Analysys Science Park
Technology Biotech
Research Laboratory
Ltd
Acorn Hitachi
Olivetti Research Cambridge
Laboratory 1980 BP
Institute of Laboratory
Seiko Epson (acquired by AT&T Judge Institute of St. John Biotechnology
St. John
Research Lab in 1999) Management
Judge Institute of Innovation Scientific
Innovation TTP Ventures
Studies
Management Studies Centre Generics
Centre Cantab
Toshiba Pharmaceuticals
The Technology Glaxo Institute
Cambridge Cambridge Research and
Partnership of Applied
Research Innovation Ltd (CRIL)
TTP Pharmacology
Laboratory
1990 Amadeus Capital
Unilever Cambridge Centre
Partners
for Molecular Informatics
Institute of Entropic Research
Cambridge Manufacturing Laboratory (acquired
Network
by Microsoft in 1999)
2000
CU’s spin-outs/ Start-ups Merged
Cambridge Andy Hopper with RealVNC
Broadband Peter Warton Globespan Virtual Network
Cambridge
Acquired by Computing
Acquired by Internetworking
American Andy Hopper Andy Hopper
Western
Microwave Adaptive IPV (Telemedia Hermann Hauser
Multiplex
Corp Broadband Systems) Andy Hopper
Dr. Matthew Cooper Andy Hopper
Virata(ATML)
Acquired by AT &T Hermann Hauser
Victor Ostanin
Jack Lang
Dr. David Klenerman Netchannel
Dr. Tony Minson Peter Duffett-Smith Alex Van Someren
Akubio Olivetti Niko Acquired by NTL
CPS Research Lab nCiphaer Stan Boland
John Snyder Andy Hopper Acquired by
Element 14
Webtop Broadcom
Smartlogik ANT Robin
Acquired by Alex Van Someren Saxby
Acquired by Dialog Amadeus Capital Partners
Olivetti Niko ARM
Library House Hermann Hauser
John Snyder
DakoCytomation -
Part of DAKO
John Snyder Dr. Martin Porter Acorn Merged with
Hermann Hauser Diagnostics
IQ Bio Cytomation Inc
Cambridge Muscat
Accelerator Hermann Hauser
Cambridge Chris Keightley CDT
Cambridge Richard Friend
University
Semiconductor
Prof Gehan Adam Twiss Zeus Analysys Plastic Logic
Amaratunga David Reeves
Technology
Until 1985
Dr. David Cleevely Richard Friend
Dr. Florin Udrea
Pilgrim Beart
1986-1990 Cambridge
ActiveRF
Network
ART Dr. David Cleevely
Antenova Daniel Hall Hermann Hauser
Pilgrim Beart 1991-1995 Sir. Alec Broers
Cambridge
Polight
3G
Technologies Virtual Business
Network Dr. David Cleevely
Prof Stephen Elloitt
Dr. Pavel Krecmer Dr. David Cleevely
1996-2000 Dr. Simon Elloit
2001-2002
Biotech spin-outs/ Start-ups
Acquired by
Becker
Underwood
Prof William Bains
Prof John Caldwell Iain Cubitt Dr. Greg Winter
Pestex Changed its name Diversys
Amedis
to MicroBio Group
pharmaceutical RiboTargets Merged
Chris Evans with
Merlin Ventures Simon Sturge
Xenova
Chris Evans Iain Cubitt Group Ltd
Chris Evans Martin Davies
Cerebrus Celsis Axis Genetcs Dr. Greg Winter
Chris Evans
Toad BioRobotics
Daivd Chiswell Dr. Chris Lowe Acquired by
ChiroTech CAT J. McCann Prometic
Chris Evans
Cambridge
Rapigene Celltech Alan Munro Sensors Biosciences
Enviros Chris Evans Inc
Merged by Cantab
Enzymatix
Celltech Pharmaceuticals Dr. Chris Lowe
Group Chiroscience MRC LMB Dr. Ken Jones
AGC Affinity Dr. Vivan Stad Dr. Roger Millington
Alan
1960s chromatography Holometrica
Daniel Roach Goodman 1984
Alan Chris Evans Alan Abcam
Jonathan Miller
Goodman Goodman Cambridge
CeNes (FD)
University AdproTech
Alan ATM Prof. Peter Lachmann
Goodman CORE Until 1985 Biotica Technology
Alan
Alan LIDCO Prof. Peter Leadlay
Goodman
Goodman Kudos Prof. Jim Staunton
Alan Oxford Pharmaceuticals
GoodmanBiomedica
1986-1990 Mark Bodmer Prof. Stephen Jackson
Hexagen
Peptide Acquired by Incyte
Avlar
Alan Therapeutics
BioVentures Metris
Goodman Now Acambis Lorantis
Mark Bodmer
Daniel Roach Therapeutics
Daniel Roach Amura 1991-1995 Paradigm
Salix Alan Prof. Stephen Smith
Alan Therapeutics
Goodman pharmaceutical Goodman Dr. Steve Charnock-Jones
De Novo
Dr. Mark Carlton
Sense Dr. Philip Dean
Alan Proteomics
Goodman 1996-2000
Dr. Jonathan Blackburn
2001-2002
CCL’s spin-outs/ Start-ups Steve Barlow
Robert Swann
Caroline
Garey
Phil O’ Donovan
James Collier Aphamosaic Smartbead Acquired by
Glenn Collinson Technologies Andrew Dame SynapticsMark Howard
Polatis Richard Doyle
Cambridge Silicon
Acquired by Elumin Holotag
Dr. Chris Radio Sensopad
founded by Dr.
Davies Technologies
Hans Wagner Pelikon Cyan Sentec Andrew Dame Dr. Stuart Hendry
Chris Fryer Technology Andrew Dame Absolute Dr. Gavin Troughton
Chris Barnardo Sensors Adrian Lucas
Mike Willis
Roger Pivotal Imerge Sphere Medical
David Bending Roundpoint Millar Resources
Intrasonics
Cambridge Physical David Paton
INCA Digital Sciences Xaar
Printers Dr.
3D Molecular
Bill Baxter GordonScientific Sciences
Will Eve Edge Generics Nigel Playford Dr. Elizabeth Hill
Prelude
Paul Anson Graham Martin
Ionica Dr. Mark Tracy
Dr. Robert Hook Dr.
Mike Payne Colin Gray QuantumBEAM
Gordon
Will Eve ELMJET Edge Diomed
CCL PA
Graeme MintoDomino
Adaptive
Acquired by 1960 1970 TTP
David Paton Gerald
Flying Null Screening
Videojet Dr. Robin
Avison Wavedriver
Technologies Smith-Saville Acquired by
DCS Cambridge Signal Dennis
Mike Stroey PowerGen
Mass Process Ltd Fielder Automation
Spectrometry Until 1985 Symbionics Partnership
Xennia Dr. Collin
Plextek Demerged from
Technologies Smithers
Alan Hudd TTP Group
Automation
1986-1990 Partnership
Transversal Barrie Griffiths
David Yip Steve Mullock Kore Myraid
David McKay Technology
ip.access
1991-1995 Acquired by
Acquired by Acumen
Mettler-
Cadence Bioscience
Ubinetics Toledo
Ali Pourtaheri
TTP Creativity
Tality Ventures Partnership
1996-2000
Yuno Ltd
Vivid
Stephen Eason
TTP
LabTech
Fen
Acquired by
Vetura
2001-2002 Technology
Investor networks in Cambridge
KEY
Merlin Bioscience
LAMBERT 1 LINK Through current board
2 LINKS membership
Currently linked through VC firm
FODEN LONG
DOCHERTY
RICH
RICHARDS
MOSES
Abingworth
BUNTING
BERRIMAN
PADFI ELD
JONES
ROACH
Avlar
J. ABELL KLENERMAN
GOODMAN C.ABELL
RINK
MUNRO
CARTHY
KIRK
CHISWELL
FELLNER
GONZALEZ JENNI NGS
WINTER
Cambridge Companies linked by multiple Directorships
ABCAM
RIBOTARGETS ACAMBIS
BIOWISDOM
DE NOVO PHARMACEUTICALS
BIOTICA KUDOS PHARMACEUTICALS
CAMBRIDGE BIOTECHNOLOGY IONIX
AKUBIO
ASTEX TECHNOLOGY
ISOGENICA
CENES
PARADIGM THERAPEUTICS
DOMANTIS
SMARTBEAD
PROTEOM
LORANTIS
ARAKIS
AMEDIS PHARMACEUTICALS
SYNGENIX
PROCOGNIA
IMMUNOBIOLOGY LTD
DISCERNA
DANIOLABS
KEY
ADPROTECH
1 LINK AMURA
2 LINKS
3 LINKS PHICO
4 LINKS SOLEXA
CAT
Examples of the tech sector
Computer laboratory,
Hermann Hauser Acorn - 1978 Andy Hopper University of
Cambridge
NetProducts Orbis 1978
Ltd Acquired by Cambridge
Olivetti, Italy Olivetti Research Processor
Laboratory Unit Ltd
NetStation Ltd IQ (Bio)
Cambridge
NetChannel Harlequin Broadband
Ltd Ltd 1999
IXI Ltd
Acquired by
Acquired AT&T in 1999
Orbis Entertainment On-Line
by NTL
Vocalis EO Incorporated IPV
(Telemedia
Advanced Virata (Advanced Systems Ltd)
Displays Telecommunications Modules 1995
Limited Limited – ATML) 1993
Adaptive
- Active Navigations ltd
- ART Broadband Ltd
- Cambridge Broadband 1986
Amadeus Capital - Cambridge Silicon Radio
Partners -1997 - Ciphergen Biosystems
- Clearswift
- Commtag ltd
- Element 14 ARM
Cambridge - Entropic Research
Network
Laboratories
(1998)
- Plastic Logic, etc
Examples of biotech sector
Ciba-Geigy
Trebor Allellix
Chris Evans
Alan Goodman AGC Genzyme
Avlar BioVentures ATM 1991 Medeva 1989
1998
Merlin Ventures
Celltech Group
- Amura
- De Novo
- Intercytex
- Gendaq, so Enzymatix ltd(1987) Toad,1994 - Cyclacel
on - ReNeuron
CORE - Microscience
Group Celsis - Eurogene
1992 - Vectura
LIDCO - Bio Vex
Oxford - Pan Therix,
Salix Biomedica Cerebrus ltd etc
Pharmaceutical Peptide
Chiroscience
Therapeutics
1992
Onyvax
Amura Enviros
CeNes 1995
(Daniel Roach)
Multiple roles of entrepreneurs
COMPANY
FOUNDERS
ACADEMICS
FINANCERS
CAMBRIDGE
ENTREPRENEURS
BUSINESS RESEARCH
SERVICES ORGANISATIONS
OTHER HI-TECH
START-UPS
Create a network of networks, exchanging knowledge, expertise
and components of each other
So, why are there no giants?
• Do they move on too early?
• Investor bias – stage funding causing paralysis?
• Ambition?
• Assumptions about managerial ability?
• Culture of small and big businesses?
– Last thing you want is a bunch of entrepreneurial employees –
need outputs…
Questions?
• Are the shareholders and CEOs actually stifling
the very spirit that drove them to start their
businesses?
• How do you recognise and sustain the spirit of
enterprise in your organisation?
• Here are some questions for table discussions….
Discussion topics – releasing or
stifling the entrepreneurial and innovative spirit.
• What is your business planning process like (assuming you have
one)?
• How do new ideas travel through the organisation?
• What is the quality of your contacts?
• What formal or informal processes do you have to engage in
innovation?
• What are the barriers and enablers for innovation and enterprise
in your business?
• Are there any hotspots of innovation and enterprise in your
organisation? Where are they and what are you doing about
nurturing them?
Transitions
Model for increasing e-Intensity
PERCEPTIONS
CONNECTED BY PROCESSES
EDUCATION
LEADING TO NEW
LEADERSHIP
OUTCOMES
ACCESS TO
INFORMATION
FINANCE
INFRASTRUCTURE
ENABLED BY APPROPRIATE FUNDING AND SUPPORT BY WAVENEY
DISTRICT COUNCIL AND OTHERS
Question & Answer
shai@transitions.co.uk
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