Breznitz S. M. Improving or impairing? Following technology transfer changes at the University of Cambridge, Regional Studies. At academic and policy levels, universities are finding themselves in heated debate about their role in fostering entrepreneurship and local economic growth. Theories that encourage university involvement in the region perceive a straightforward positive correlation between the level of the university contribution and industrial growth in the region. Accordingly, the adaptation of a successful model will have positive results on local economic growth. Utilizing a case study of the University of Cambridge, this paper contends that the impact on regional economies depends on universities' resources, policies, and organization, as well as on industry's response to the knowledge and innovation generated.