In the UK, policymakers are increasingly encouraged to create industry networks as a means of supporting regional economic development. Yet research suggests that formal attempts to replicate successful industry networks have had little success. In order to understand some of the reasons why, this paper presents findings from a recent study into the formation of an industry networking group for the information and communication technologies (ICT) sector. We conducted 14 in-depth interviews with entrepreneurs and intermediaries actively engaged in the formation of this group. Our findings point to how differences in motivations and expectations from participant members create barriers to the formation of long-term social relations needed for the longevity of these kinds of groups. Indeed, the nature of policy driven, and funded, networking groups contributes to a short-term focus not only of those responsible for its formation, but also participating members. To overcome these issues it is important that policymakers and entrepreneurs work in partnership to ensure resources are targeted appropriately and in a way that is conducive to supporting an entrepreneurial environment for the development and realisation of opportunities over a period of time.