Watch:
Innovation clusters: Understanding life cycles is a report published by The Economist Intelligence Unit. It focuses on the life cycles of five innovation clusters and the possible factors that determine their success. The report is based on desk research and expert interviews, referring to five case studies sited at Silicon Roundabout (UK), Bangalore (India), Boulder (United States), Singapore, and Estonia.
These cases studies have been selected to cover both established and emerging markets, and to explore a wide range of cluster success factors. After having explored possible factors concerning cluster life cycle, the report concludes on six key components of success:
A skilled workforce
Accommodating policy frameworks
The infrastructure imperative
Luck and serendipity
Low cost structure
Liveability
According to the report:
Innovation clusters are crucial laboratories in which novel tools, technologies and techniques are created and applied. But they are not just the ‘˜background’ to innovation; they are living organisms integral to everything that happens within their ‘˜walls’
Read the full report here.