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Knowledge exchange and innovation have a strong local dimension and require face-to-face relationships and collaborations between universities, industries and governments. Cities are turning to the knowledge base to enhance their own socio-economic development in the face of global competition and continuing gaps in prosperity. This paper examines the contexts, challenges and consequences of these shifts. First, the paper considers theoretical and policy rationales which create the conditions for the emergence of knowledge-based urban development (KBUD). Second, it highlights three dichotomies that produce tensions in the practice of knowledge exchange at an urban level. Finally, the paper considers the capacities and capabilities of different urban areas to respond to contemporary challenges through processes of active intermediation. In conclusion, this paper provides an agenda-setting provocation for the co-production of sustainable knowledge-based urban futures between academia, policy and practice.
Perry et al. (2010) studied this question.