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Our paper on the Connectivity and Leadership of Entrepreneurial Ecosystem Actors – A Case Study of Reading
– by Dr Keith Arundale, Profs Maksim Belitski, William Kilgallon (Henley Business School, University of Reading), Colin Mason (Adam Smith Business School, University of Glasgow)

was awarded Best Paper at the Institute of Small Business and Entrepreneurship (ISBE) annual conference in Glasgow on 5 November 2025 in the Entrepreneurial Finance Track. I was delighted to present the paper on behalf of my co-authors: https://www.isbe.org.uk/isbe-2025-best-paper-award-winners/

This study examines the entrepreneurial ecosystem (EE) of Reading, Thames Valley (UK), with a focus on the role of Entrepreneurial Support Organisations (ESOs) in enabling connectivity among stakeholders such as start-ups, corporates, investors, universities, and policymakers. While Reading hosts a significant cluster of global tech firms (e.g., Microsoft, Oracle, Huawei, Cisco), venture capital firms, and professional services, the ecosystem remains fragmented and lacks a central coordinating entity.

Key Issues

• Weak Connectivity: Stakeholders often operate in silos; ESOs lack coordination and shared agendas. Entrepreneurs face challenges in accessing finance, mentoring, and affordable office space.
• Underutilised Resources: Despite abundant resources (universities, VC presence, large corporates, infrastructure), entrepreneurs struggle to locate and access them due to limited signposting and fragmented support.
• Lack of Strategic Leadership: No dominant “ecosystem champion” exists; large corporates remain disconnected from start-ups; Reading lacks a strong entrepreneurial identity compared to Oxford or Cambridge.

Research Approach

The study draws on 18 semi-structured interviews with stakeholders (universities, corporates, VCs, banks, ESOs, MPs, and entrepreneurs). Thematic analysis identified four dimensions of ecosystem development:

1. ESO Infrastructure and Resources – Facilities and services exist but are poorly coordinated and visible.
2. Network Connectivity and Knowledge Collaboration – Weak integration among actors, with some sub-networks (e.g., Henley Business Angels) working well but not scaled.
3. Support Gaps – Deficits in mentoring, scale-up finance, and commercialisation support; talent shortages and high living costs compound the challenge.
4. Strategic Leadership & Positioning – Absence of a unified vision; branding and promotion of Reading as a tech hub remain weak.

Intervention: The Reading Tech Cluster (RTC) (https://readingtechcluster.com)

The new RTC organisation is seen as vital to addressing the above shortcomings in the tech ecosystem in Thames Valley Berkshire, linking up the various categories of stakeholders and signposting access to investors and professional service support. The consensus is that all of the ingredients for a successful entrepreneurial ecosystem are present but their connectivity requires to be significantly enhanced.

Launched in 2025, RTC is a private, not-for-profit membership organisation designed to act as a central hub. RTC’s vision is to make the region the best place to start, grow or locate a technology firm in the UK.

RTC’s aims include:

• Connecting stakeholders (tech firms, investors, universities, policymakers).
• Facilitating innovation, knowledge transfer, and investment.
• Providing signposting to finance, advisory services, and mentors.
• Enhancing Reading’s visibility nationally and internationally.

Contributions

• Reinterprets ESOs as connective infrastructure and dealmakers, not just service providers.
• Highlights that resources alone are insufficient; dense, quality interconnections determine growth orientation.
• Shows how private-led interventions like RTC can fill gaps left by government policy, particularly in regions overshadowed by larger hubs.

Conclusion

Reading has the ingredients of a successful entrepreneurial ecosystem, but weak connectivity undermines its potential. The RTC offers a promising intervention to unify stakeholders, build shared identity, and connect Reading to national and global networks. Its success will depend on strategic leadership, ecosystem branding, and effective integration of fragmented resources.