Thursday, February 9, 2012

Fostering innovation-led clusters

Excellent research and findings from the Economist Intelligence Unit, "Fostering innovation-led clusters; A review of leading global practices" here.  The research and approach are documented here.  Some of the key findings are:
  • Government has a crucial role to play; so does the market.
  • Clusters are about collaboration, not just locating firms in the same place.
  • Talent is the single most important factor in developing successful clusters.
  • Governments need to work to promote a culture of innovation and entrepreneurship.
  • Clusters work best when they are focused and can compete.
  • Governments can do much to create an attractive business environment—and a good place to live.
  • A strong local market will help attract R&D investment, but is not crucial for global success.
(Note: non-subscribers will have to purchase the report)

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