IAugust232018_Clusters.pdf

IAugust232018_Clusters.pdf - 1 The Power of Clusters...

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The Power of Clusters Innovation, Markets, and Technological Development Joseph Michael Smith August 23, 2018
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The Power of Clusters Innovative Thought Sources 3 Agenda
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Clusters Clusters are geographic concentrations of interconnected companies, specialized suppliers , service providers, and associated institutions in a particular field that are present in a nation or region 4
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Clusters In Practice Clusters typically must have at least 3 of the following components : 1. Other companies [fellow driver industries (competitors)], suppliers, support industries 2. Academic institutions (e.g., research and development; consultations) 3. Government agencies (federal, state and/ or local collaborators) 5
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Clusters Defining Features Clusters are rooted in specific geographic places, and may be dependent on natural resources , including environmental quality , that attracts a skilled and mobile workforce 6
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Clusters Why are they Relevant? Clusters arise because they increase the productivity with which companies can compete The development and upgrading of clusters is an important agenda for governments , companies , and other institutions 7
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Clusters - and Economic Policy Cluster development initiatives are an important direction in economic policy , building on earlier efforts in macroeconomic stabilization , privatization , market opening , and reducing the costs of doing business 8
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Clusters common attributes During the last few decades, firms have developed competitive niches around sustainable technologies and practices Clusters depend on individuals such as innovators, entrepreneurs, ordinary citizens, customers and consumers Their strength depends on relationships among people , their ability to communicate, and their degree of trust 9
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An Illustration … 10
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Clusters Some Examples 11
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Research Triangle Park North Carolina (NC) 12
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  • Fall '16
  • Raul Rosado
  • Research Triangle Park, University of North Carolina at Chapel Hill, Chapel Hill, North Carolina, Durham, North Carolina

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