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Bio-clusters as Co-evolutionary Developments of High Tech, Venture Capital and Socio-Political Institutions: A Historical Perspective of Cambridge and Scotland

Abstract
Bio-clusters have been at the centre of regional dynamics in the last ten years. The fact that they allow innovation and competitiveness to emerge through intense interactions between various agents in close geographic proximity has stimulated the interest of policy-makers with aspirations to establish biotechnology presence in their regions. However, this paper conceives bio-clusters as historical developments of the social division of labour which co-evolve with biotechnology, venture capital (VC) and sociopolitical institutions. In doing so, it focuses on the empirical cases of Cambridge and Scotland, critically taking on board a recently developed industry life cycle model. The argument is that co-evolutionary development of bio-clusters is not static but dynamic, involving, nevertheless, certain pre-conditions, discontinuities and contradictions.