Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
The Cambridge Phenomenon - Professor Alan Barrell
1. The Cambridge Phenomenon
50 Years of Innovation and Enterprise
The Cambridge Phenomenon
The evolution of an
Entrepreneurial Ecosystem
Story of a Progression towards Open Innovation
and a Culture embracing Connected Interests - a
story still unfolding - and a personal set of
thoughts - not an academic paper. Focus on
people.
Professor Alan Barrell
2. Relating to History and visionary romance - starting
with the concept of the Agora of Ancient Athens
about 600 BC
A special central place for all and everything - meeting, greeting, eating, exchanging,
learning - voting. Birthplace of the Athenian Democratic Process. Politicians,
philosophers, criminals, traders, aristocrats, scientists, officials and slaves - all passed
through and made contact there. A model of an epicentre of knowledge sharing. Does
Cambridge represent a Agora for today and tomorrow?
3. Great minds “brainstorming” in the Agora at Athens
Fresco by Raphael - now in The Vatican
Scientific Theory - not called by that name then- got started in the
Agora sessions. Socrates, Plato and Aristotle and others met,
socialised, philosophised and instructed students here. Perhaps we
see parallels in Cambridge today?
4. Living Longer – not always Healthier – big dilemma
World Population 1953 3.5 billions : 2014 7.5 billions : 2025 - ? 10 billions….
There is another Context to our Cambridge Story – Our World Today –
Reminders – Challenges
Climate Change and Energy Food and Water
Seismic Changes
in World
Economy
The Century of Science
and Technology
A “New Renaissance” – Age of
Education – Example - 8.3million new
graduates in China in 2018
BIG Opportunities for creative R&D, Businesses and
Entrepreneurs
5. Getting back to Cambridge - amidst these tranquil surroundings…..
great Centre of Learning ….and the story of an economic
transformation
7. The Cambridge Phenomenon
Attracting global interest and admiration - local pride and local
concerns. Innovation and change are mixed blessings
8. Population of Cambridge approx. 130,000
Of which, around 25,000 are students
Reminder - Cambridge is a very small city
“Greater Cambridge” sub region 650,000
East of England Region 6.5 million
9. 52 107
More Nobel prize winners than most countries (and Oxford!)
Always a risk my numbers will be out of date!
10. Cambridge and the Eastern Region – a Transformation
Regional Example – the last 60 years
Traditional Industries
•Agriculture and Food
•Fishing
•Leather goods - Footwear
•Wool and Textiles
•6.5 million people now
•Now One of UKs fastest growing
regions in Europe
•Traditional Industries dead, dying or
gone away….
60 years ago – this was a deprived and declining region.
University has played a key role in recovery
Worstead and
Thetford in
Norfolk -
Centres of the
First Great
Wool Trade
Last reported
annual growth
9%!
11. Cambridge Ideas have changed the World….but regional
economic development did not follow….for centuries
Ideas that Changed the World –
not historically to the great
benefit of Cambridge, the
Region or the Nation….
R&D alone doesn’t create
wealth or social good. R&D
is NOT innovation
But Cambridge has had Innovators - some
examples of wonderful changemakers….
12. Mathematics and the
start of “computer
thinking”
Charles Babbage –
Cambridge man and
some say “father
and mother of
computing”
19. A history of true invention and creativity
EDSAC in the 1940s
20. The Maurice Wilkes Building at St John’s Innovation Centre
Not only in memory - but enabling future
inventions and technology development
21. From Babbage and his
“Difference
machine”through
Wilkes and others from
1880 - to Raspberry Pi
2012– a leap in time,
technology, size and
scale.
Jack Lang, first
Chairman Raspberry
Pi Foundation.
Computer
Programming for ALL
22. Raspberry Pi a revolution in scale , power
and cost
It is TINY……as
shown by co-
founder Dr
David Braben
here
But POWERFUL !
Big Data from Tiny Devices
23. 25 million Raspberry Pi computers
sold ( ByFebruary 2019)
Changing the world and enabling thousands to benefit.
Myriads of applications.
24. Long before Raspberry Pi - Alan Turing - Code
breaker and computer science leader in WW 2
and father of Artificial Intelligence
A hero and visionary - unrecognised and very
badly treated in his own lifetime. Kings College
Cambridge. Today we have The Turing Institute
and his contribution acknowledged.
25. More world changing science – “Cambridge Ideas Change the
World”
1953 Crick and Watson – Double Helix – DNA 1953
Great Bioscience discoveries in a Physics Lab. - The
Cavendish - more great names to recall - Rutherford, JJ
Thomson, Bragg, Clerk-Maxwell, Mott, Max Perutz and more
26. DNA Crick and
Watson 1953 at Old
Cavendish Labs
And across the street….a
friendly pub - with the best
beer….
27. The Eagle Pub - where it is
reported Crick and Watson
first reported one of the
greatest discoveries in the
history of science - DNA -
The Double - “The Secret of
Life”
Enjoy a glass of “DNA ALE”
there anytime….
29. The Francis Crick Institute – Leading Edge Medical Research
World class teams connected with other leaders in other
UK and International Centres – breaking new ground in
Cancer Research and other key areas
30. Lest we forget - The Double Helix discovery was possible through
the work of Rosalind Franklin
An untimely death, politics and other factors deprived her of the
recognition she deserved and deserves.
31. Shankar Balasubramanian and David Klenerman
DNA polymerase and laser spectroscopy
SOLEXA -
Revolution in
Bioinformatics
Now the beating
heart of Illumina
technology.
Acquired for US$
1billion or so.
Illumina now employ
600 people in
Cambridge.
Another Pub in the frontline of genetic and genomic discovery
32. ΦX174
Prof Sir Fred Sanger - 2 Nobel
prizes
1977
Sanger Method
for sequencing DNA
33. Human Genome Project
Historical Cost to sequence 1 entire human genome said to be $2.7bn
Today genome sequencing has been
super-accelerated and the cost
dramatically reduced. The Sanger
Centre - Wellcome Genome Centre leads
the world
34. Prof Sir Greg Winter Dr David Chiswell
1990
The revolution of using antibodies to create a whole new portfolio
of therapeutic medicines
35. • Combined headcount of technology providers currently exceeds 8,500 in UK
• PA Technology employs up to 3,500 Worldwide
• Combined direct and indirect revenues estimated at $3.0 billions – ? more
• PA technology – Revenues $750millions+ (estimate)
• Some players have seed funds
• 70 identified spin-outs - highly successful incubator models
Origins of the Cambridge Cluster and
Ecosystem
The Technology
Partnership
Scientific Generics Symbionics Team Consulting Plextek
P.A. Technology
Cambridge Consultants Ltd
(1960)
Cambridge University
And there have been more including Cambridge Design Partnership
36. The concept of Open Innovation and The Agora in practice
Hi-Tech Regions and Clusters - there are 50 and more
identified around the world where new economies have
developed. We are recalling how Cambridge became one and
looking at how it has developed.
Picture Dr Martin Hinoul - KU Leuven
What do we find in those regions and clusters?
And what about “Open Innovation” ?
37. “Open Innovation” and technological progress. Centres of
Open Innovation are amongst great Cluster Centres The
Internet has enabled Open Innovation ++++
Open Innovation flourishes in Cambridge
Concepts of partnership and sharing
in innovation - not just
competitiveness
38. Revolution 1991 !
The World Wide Web
Connectedness, Connectivity and
“Connectricity” and Open Innovation
How much
change has
the internet
and World
Wide Web
enabled?
How much
more is
possible?
Tim Berners-Lee
39. The Example everyone quotes of Hi-Tech Cluster and
Regional Innovative Ecosystem – “Silicon Valley”
There are stunning examples elsewhere - Cambridge is
one such
40. Role Models
Infrastructure
Looking more closely at “Clusters of Creativity for Growth” - Open
Innovation is at the heart of the growth of Technology Based Clusters
and Hi Tech Regions – where we find Common Characteristics....in
centres like those highlighted
• Knowledge Centers
• Entrepreneurs & Role Models
• Money
• Capital Markets
• Infrastructure
• Cluster Policy
• Presence of International
Companies
• Networks
• Government
• Quality of Life
Minds without Borders – Global
Mindset….and
Scale – Size – Populations 0.5
– 1 million common
Source Gibbons – Saxenian - Hinoul
41. We find Science, Technology and Knowledge
like theseThree Pervasive Technology Platforms in these centres
BIO TECH
Pharmaceuticals
Diagnostics
Research/Info
Tools
Industrial
Genomics
Bioinformatics
Proteomics
INFO TECH
Hardware
Software
Communications
NANO TECH
Electrical
Structural
Biomedical
Energy & Environment
Biosensors
BiochipsBioelectronics
Microfluidics
Nanobiotechnology
Drug Delivery
Nanodevices
Nanosensors
Nanoelectronics
Open Innovation
enables….
Transfer of
tacit
knowledge
Where the circles combine – enhanced prospects for innovation ++++.
Life Sciences cross technology boundaries these days. And Science
Parks and Innovation Centres are key elements in the development.
42. Professor Sir John Bradfield CBE Trinity College Cambridge
Founder Trinity Cambridge Science Park – First in Europe
Science Parks
in UK started
with an act of
faith by an
Ancient College
and set of a
trend in Europe
and Asia
Back in
Cambridge in
1970
43. Life Stage Locations
Business Park
Innovation CentreIncubator
Laboratory
Park
Genome
Campus
Serviced Office
Science Park
Facilities for Start-Up, Acceleration, Incubation,
Early Stage Development and Scale - up enable
technology cluster development. Support
positive change
44. Product Development Evolution
and the Money Supply Chain
From Idea to Marketplace
The Commercialisation of Research
The “Supply Chain of changing skill set needs” and the
“Supply Chain of ££££” needs to be planned and implemented
– with specific elements – for each enterprise and with each
phase in mind. And there are post launch phases.
45. Product Development Evolution
and the Money Supply Chain
From Idea to Marketplace
The Commercialisation of Research and Ideas
More on sources of finance later – but innovative companies
don’t exist in isolation – they often flourish in Clusters….
Little /no cost R&D POC Grants TSB Some EU Bus. Angels VC “A” Round VC “B” Round
“Catapult Centres” & Seed Funds
46. Sources Of Business Finance – The traditional view
Maturity
Risk
“Our Money”
Family and Friends
Fools
Business Angels
Early Stage VC
Expansion Capital
B
A
N
K
F
I
N
A
N
C
E
??
Seed Funds
Pre-IPO
Research Money from
numbers of streams
Grants for
companies – e.g.
Innovate UK, SBRI
European Union
Funds
But Entrepreneurial thinking and the internet are
changing the world – including the world of
Finance
47. The Developing World of Business and Enterprise Finance
“Alternative Finance”
Impact of the Internet and Social Networks
A NEW world of communication and interaction
More “power to the people”
Impact of Innovation and Entrepreneurship
Failures of Western Banking System
Crowd Funding including Peer to Peer Lending
Impact Investing
“Collaborative Capitalism”
Microfinance
“A Brave NEW WORLD!”
Some speak of “The Democratisation of
access to Finance”
48. The Bradfield Centre Trinity Science Park Cambridge
600 places for start-up entrepreneurs – resident
coaches and mentors and connections with investors
Opened June 2017 – filling up ++++
State of the Art Innovation Centre
Now 25 Science Parks and Innovation
Centres in Greater Cambridge
49. And at Trinity Science Park we have a key investment
partner - TUS Park - Tsinghua University of Beijing
A £200 million investment in establishing a new
Bioscience Incubator - supporting local science and
technology and enabling internationalisation
50. Supporting Cambridge Science Park
Development and Growth
Connecting the Cambridge Cluster and
emerging technologies and companies with
Chinese opportunities
51. Science and Innovation Parks – Assets for participating
in a World Without Borders – Cambridge has made
progress – Platform for Global Growth and Wealth
Creation.
More science parks than in any other UK location - 25
• Babraham Bio-Incubator
• Cambridge Research Park
• Cambridge Science Park
• Granta Park
• Great Chesterford Research Park
• Melbourn Science Park
• St John’s Innovation Centre
• Peterhouse Science Park
• Biomedical Campus
Tenants include:
Toshiba Research Europe
Epson (UK) Ltd
Pfizer
Amgen Biosciences
Napp Pharmaceuticals
Genzyme Therapeutics Ltd
Astra Zeneca
GlaxoSmithKline
Takeda
Hitachi
Microsoft Research
Nokia
Philips Medical Research
Huawei (from China)
And more are planned –
Hauser Forum opened
2010 and Future
Business Centre 2014
52. Open Innovation needs Provision of space to support
serendipity, collaboration, networking and changemaking not
forgetting access to finance
The Hauser Forum and
IDEASPACE Cambridge
Thanks to Hermann and
his family trusts
53. Cambridge’s Centre for Social, Environmental
and Financial Impact
Home of Cambridge Cleantech
Working closely with Judge Business School
There are now three FBCs and more planned
55. A Fourth Industrial Revolution ?
R&D Education
Applications
Companies
A Revolution of CONNECTEDNESS
A concept of “CONNECTRICITY”
Making possible a continuing Global Agora
Innovators, Educators, Practioners, Investors,
Policy Makers and Industry “joined up”!
Creating the
currents that
determine future
success
Energising the
connectivity of
people
56. Key Components of Entrepreneurial Eco-system – Local start-ups
and inward migration – as the Culture changed
Cambridge
University
1960
1970
MRC
Laboratory
of Molecular
Biology
CAD
Centre
Sinclair
Radionics
CCL
Barclays Bank
1980
Cambridge
Interactive
System
Cambridge
Science Park
Acorn
PA
Technology
Eicon
Research Ltd
Sinclair
Research Ltd
1990
Analysys
Olivetti Research
Laboratory
(acquired by
AT&T in 1999)
Judge Business
School
St. John
Innovation
Centre
Scientific
Generics
The Technology
Partnership
TTP
Cambridge Research and
Innovation Ltd (CRIL)
Institute of
Biotechnolog
y
Cantab
Pharmaceuticals
Hitachi
Cambridge
Laboratory
Nickerson
Biotech
Laboratory
Glaxo
2000
Toshiba
Cambridge
Research
Laboratory
Seiko Epson
Research
Lab
Unilever Cambridge
Centre for Molecular
Informatics
Cambridge
Network
Institute of
Manufacturing
Amadeus Capital
Partners
TTP Ventures
Microsoft Research
(previously Entropic
Research)
Glaxo Institute
of Applied
Pharmacology
BP
CfEL (previously
CEC)
Cambridge
Enterprise
CUE, Biology
in Business
CMI
Avlar
ET Capital
Cambridge
Gateway
3i Create
Partners
Cambridge
Angels
GEIF
Library
House
Cambridge
Capital Group
ERBI
Philip
s
EPSON
The Wellcome
Trust Sanger
Babraham
Bioincubator
Cambridge
Research
Park
Granta Park
CHASE
Enterprise Link
Huawei 2015
57. “Brain Circulation and Knowledge
Sharing Across Borders and
Functions”
“Open Innovation Thinking” and Action
From local to global - making big change happen in turning
knowledge into real things - within the context we have described.
How has Cambridge culture evolved?
Starting with MINDSET – Belief in “A World Without
Borders” encourage everyone to “Worldthink”
58. Case Study: Barclays Bank – Eagle Lab
A recent development
Barclays
• Established in 1690, is the oldest bank in the UK
• One of the largest financial institutes worldwide
• Greatly supports consumers and SMEs
59. Case Study: Barclays Bank – Eagle Lab
- Economic flexible space for early stage
entrepreneurs
- Connected with local investors, mentors and
coaches
- Convenient city centre locations
- Direct connections with other innovation centres
and science parks
17 more planned
60. Why Barclay doing it?
• Attract tomorrow’s client
• Strengthen the core technology capability
Case Study: Barclays Bank – Eagle Lab
Fab Labs
61. Case Study: Barclays Bank – Eagle Lab
Strategic Transformation Director, Barclays
Steven Roberts
PhD in Geophysics, Cambridge University
62. Case Study: Barclays Bank – Eagle Lab
Prof. Alan Barrell is a Barclays Eagle Labs’ coach, mentor and supporter from day one
63. People Factors - Knowledge and Communication are fine but
what more should we consider….?
“IMAGINATION” – said Einstein – “and it is more
important than knowledge. Knowledge is limited
– Imagination encircles the World”
64. “You look at things
and ask - why?
but I dream of things
that never were and
ask….
George Bernard Shaw
why not?”
And Entrepreneurship - said to be such a key
element in Cambridge - can we agree a definition?
All the great Leaders and change
agents who have “made a
difference” have been “Why Not”
people. Entrepreneurship is a
mindset. They didn’t say or think
“yes but”
65. The emergence of high-technology clusters in
Greater Cambridge – The Transformation
50,000
This slide was made
in 2004. “The Future”
had become reality by
2014
60,000
Not to overlook the key role of Marshall
Group over the whole period. A bedrock of
engineering excellence and education of
talent.
66. The Cambridge Cluster -An example of “Bottom Up” – not
“Top Down” Growth and Development….my view….
Building communities of enterprise,
social inclusion and common
purpose. With International Mindset
Sub-regional development
Regional economic development
National Economy – World
Economy
67. A Joined Up System and Society
Connectedness, connectivity and connectricity
Cambridge is only one example of the development of a
“Cluster of Creativity”
68. Cross-sector collaboration
And “convergence” connects industry sectors and scientific / technical
disciplines - Cambridge Connectivity
Basis of an effective “joined-up” Entrepreneurial Ecosystem
Thanks to The Cambridge Network
69. Importance of intermingling and “connecting”
Key role of “The Cambridge Network Ltd” –
www.cambridgenetwork.co.uk – formed 20years ago
Importance of ENABLING networking
71. Collaboration between R&D and
Technology Commercialisation
Centres of Excellence – jointly
funded
International
Collaborations with
TOP Partners is a
BIG PLUS
We have benefitted from supported international collaborations
72. Latest News – Astra Zeneca relocating Headquarters and
R&D on Cambridge Biomedical Campus – 2,200 new jobs !
Alcatel Lucent
Amgen
AstraZeneca
Bayer
Broadcom
Cancer Research
Citrix
Genzyme
GSK
Hitachi
Illumina
Intel
Medical Research Council
Microsoft Research
Napp
Pfizer
Philips
Qualcom
SOBI
Takeda
Toshiba
Wellcome Trust
Huawei –China
FDI - Significant Organisations investing in
Cambridge - inspired by the cluster
2018 £200m - Tsinghua University in
Cambridge Science Park - for Biocentre
and Ten Cents £17m in Frontier Games
And Huawei is a major investor -
a dilemma….
73. Astra Zeneca Global Headquarters
Biomedical Campus Cambridge
The Campus will be the largest in Europe
Global centre for Medical and
Pharmaceutical Research
74. Looking a little further ahead at the Biomedical Campus
Europe’s largest and fastest growing Bioscience Campus
75. The Huawei Dilemma - Cambridge is a key player with
Huawei and Huawei represents a geopolitical conundrum
Huawei acquired Neul - for £25m. Now a European R&D Centre
2019 acquired old Spicer Sawston site for £35m
Planning a factory for 400 employees - major new investment
Huawei is committed to Cambridge Community - Board
membership Cambridge Wireless Network
76. Art and Creativity pervade life in Cambridge and are part of “The
Phenomenon” - Science and Technology are not ALL.
The School of Art, now within ARU has a great history - and
Cambridge Societies such as Cambridge Drawing Society and
Watercolourists are supremely enterprising.
77. Cambridge Drawing
Society Founded 1882
and still going strong
Regular exhibitions in
public centres. Lots of
information on the
website -
www.cambridgedrawingso
ciety.org
78. Games Industry - Jagex - Chinese investments
Frontier Technology and Elite Game.
£17m invested by TenCent of China
Anglia Ruskin University - not to be forgotten - has the REACTOR International
Digital Games Incubator - and great expertise. And ARU still has School of Art
The Computer Games
Industry brings
Creativity, Art, Design
and Technology
together
79. And one of the world’s great Chocolate companies
was born here!
Having a Cocoa Plantation and stores and cafes
everywhere!
80. Cambridge today has 18 companies valued at more than
US$ 1billion - 2 at $10billion and 1 at $30billion
Cambridge Economy growing at 9% We have see much
being changed.
Cambridge Innovation Capital - University Venture
Fund - £200 millions
More inward bound venture investment than any
other centre - US 1 billion in past year
81. Every smartphone in the world
contains at least one chip
designed by ARM.
More than 86 BILLION ARM-based
chips have been shipped (Sept 2016).
The phenomenon of ARM Holdings - world leading “chip” designer.
The biggest of Cambridge technology companies
Origins in Acorn - new paradigm company - design not make -
license to the world.
83. Imagination Innovation and
Entrepreneurship
The DNA of human progress
Cambridge as a New Age Agora
Joining-up, Connectedness and
“Connectricity”
Celebrating “The Cambridge Phenomenon”
But…….
84. Downsides and challenges of Growth and Success
Some issues….
History, conservation and preservation in a great ancient city
Population growth and congestion - environmental challenge
Challenge of uncontrolled tourism
Property prices and affordable accommodation
Cambridge, Peterborough and Regional Politics and the Regional
Economy
Decision making and policy in a small city - global centre
No easy decisions - we will reflect when he conclude by looking
ahead
85. A brief look at future possibilities
Smart Agora Cambridge
Technology and Innovation will contribute
++++
The Challenges
Can future growth and development be
balanced and embrace human and
societal issues ?
86. Looking ahead - changes in the Business and Working World are
accelerating faster and with technological advances - more than ever before.
Cambridge is well positioned for technological leadership
87. 87
Where are great advances being made in scientific and technical or
engineering discovery? Applying “Tomorrow’s Innovations” Where will
we be initiating positive change in future?”
Genetics, Genomics, Biomics,”Multiomics”
Biomedicine including Regenerative Medicine
Imaging
Materials Science
Nanotechnology
Sustainable Chemistry
Agritech – Agricultural Science and Technology
Computer Science Generally
Artificial Intelligence
Machine Learning
Big Data
Virtual and Augmented Reality
Robotics
Space Exploration
Areas where we can actually bring about
change.
88. One example area - Digital Healthcare and Medical Education – Leading Edge
Digital Healthcare possibilities are huge
The Future Here and Now
89. Artificial Intelligence and Machine Learning - significant
areas for future progress
Cambridge University and Cambridge companies
aligned for progress and leadership
90. The fascinating questions about “men,
women and machines”
Artificial intelligence, Machine Learning and Robotics
the contribution of Cambridge science and
technology. But many questions to be answered….
96. Growth in Greater Cambridge
20
Companies
listed on
the stock market
10.5
%
Growth in
turnover
for tech sector
10.4
%
Growth in
turnover
for life sciences
£4bn
Economic output
Ambition by
2043
97. Skills Smart
• Greater Cambridge
Apprenticeships service launched
in July 2019
• New service aims to create 420 new
apprenticeships across Greater Cambridge
• Service to help businesses identify how they
could take on apprentices to fill skills gaps
and give apprentices access to STEM roles.
• Form the Future and Cambridge Regional
College managing service on GCP’s behalf.
• SmartPanels and Wayfinding screens at
Cambridge Station and public buildings
• MotionMap app and Pocket SmartPanel –
real time journeys
• Autonomous shuttle trials due in 2020
• Air quality & traffic monitoring in Cambridge
• Intelligent mobility – research on first/last
mile journeys, customer experience and
traffic management
99. Two wonderful books about “The Cambridge Phenomenon”
Thanks to Kate Kirk and Charles Cotton
100. A final reminder - NOT my most recent class of students - but
the reminder I end my student lectures with - because Einstein’s
advice about Imagination is so important! And to end with a
smile….
“Imagination is more important than Knowledge” – Albert Einstein
One of the secrets of “The Cambridge Phenomenon”
101. Thank You for Listening
alan@alanbarrell.com
www.alanbarrell.com