This paper explores the interplay of factors that produce specific local pa
tterns of interaction between firms and universities, using survey evidence
from a comparative study of two elite locations, the Oxford and Cambridge
regions. It uses these examples to examine why innovating firms have extern
al links, why they have them with universities, which spatial mechanisms ar
e significant in the place-specific technology transfer links universities
have with firms in their immediate hinterlands, and what kinds of instituti
onal factors influence the form links take.