Abstract

Sir Andrew Witty’s pivotal 2013 report (Witty, Encouraging a British invention revolution: Sir Andrew Witty’s review of universities and growth. Final Report and Recommendations, 2013) identified that universities have an extraordinary potential to enhance economic growth, and that much of this growth will come from small-to-medium enterprises (SMEs). The report noted that whilst they offer SMEs substantial benefits, many universities lack resources for external engagement. I argue that larger universities do contribute to this narrative but are driven by strong research agendas and typically work with larger companies nationally and internationally. They are not particularly accessible to SMEs.This chapter discusses the impact that a small university can have on the regional economy in which it operates, and argues that smaller universities can be more focused on local need, especially in relation to supporting small businesses. It is presented within the context of the development of the University of Chichester Business School over the last 20 years; the successes and the challenges that had to be overcome. The University and the Business School is an example of an anchor institution, like many other small universities, embedded in their local economies, acting as facilitators at the heart of a network of open innovation, connecting supply chains, education establishments, local government and businesses.The importance of building long-term relationships is explored and illustrated with feedback from interviews with key stakeholders in the regional economy.