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The forces of globalisation now impacting on local economies pose threats to the existing paradigm of competences and routines, yet simultaneously offer opportunities to integrate new knowledge and learning. This is particularly pertinent with respect to Europe's ‘mature regions’, which are undergoing a major economic restructuring by trying to shift from traditional manufacturing activities to hybrid activities that comprise a combination of manufacturing and a higher component of intangible inputs and related knowledge service activities. The objective of the article is to discuss the concept of ‘place leadership’ by looking at how the embedded skills, knowledge and cumulated learning of a place can be used by its institutional infrastructure to identify sustainable growth trajectories. In other words, its aim is to explore how the economic, social, institutional and cultural aspects of places shape the opportunities for …