INTRODUCTION OF SPECIAL REPORTS(<SPECIAL REPORTS>ECOSYSTEMS IN ADVANCED INNOVATIVE REGIONS IN THE U.K. AND THE U.S)

Abstract

This special issue is composed of five papers analyzing Silicon Valley, Austin, and Seattle in the U.S., and London and Cambridge in the U.K. We explain the essence of business ecosystems in those innovative regions. We focus on why high-tech startups and academic spinoffs have emerged. We want to emphasize three crucial points: the existence of serial entrepreneurs, the role of large companies, and the attractiveness of creative cities. Serial entrepreneurs can often create new businesses beyond the industrial boundary. Large companies cultivate human resources. Spinoff firms from large companies can grow, then the large companies can buy them back. The attractiveness of creative cities particularly fascinates sophisticated immigrants. Currently, we are seeing competitive acquisitions of human resources among three American regions and between two British regions.