Venkataraman (2004) discussed the possibilities of technical entrepreneurship as a lever to achieve regional transformation and suggested that public policies and entrepreneurial strategies should focus on “intangible factors” such as focal points capable of producing novel ideas, gateways for large markets, executive leadership, among others, instead of (or in addition to) the “tangible factors” such as the provision of capital or tax incentives. In a similar vein, Molina-Morales et al. (2002) analyze the role of local institutions as intermediary Agents capable of promoting the strengthening and consolidation of industrial districts. With the present study we tried to answer to the following questions: a) were the “intangible factors” present in the district formation and trajectory? If so, what was their importance in the district trajectory and performance?; b) does the non-technological entrepreneurship (entrepreneurship in mature industries) have the potential to promote regional transformation, as well as technological entrepreneurship? These are crucial questions for developing countries where technology is a scarce resource.