Clusters of innovative firms are an old phenomenon. In the UK during the first Industrial Revolution, for example, the cotton industry was heavily concentrated in Lancashire within the Oldham-Bolton-Manchester triangle. In more recent times, clusters of high-tech firms, prime among which is Silicon Valley in California, have gained fame and are routinely referred to as role models for promoting innovation, successful commercialisation of research and economic growth. What is it that makes clusters so attractive?
here is extensive empirical evidence for thinking that clusters generate some tangible benefits, such as knowledge spillovers, the sharing of inputs and forward and backward linkages to research innovation, which make firms within the cluster more productive and innovative. Some firms might even never have been founded outside of such clusters.
To read the full, original article click on this link: University World News - GLOBAL: What makes science parks successful?
Author:
