Global Clusters of Innovation

Topics: Entrepreneurship, Innovation system, Innovation Pages: 5 (1697 words) Published: June 9, 2013
REQ #3: FINAL REPORT (due Week 10)
Prepare your final report inAPA Format with the following required sections: I. Introduction (1 page)
· This section shouldinclude the major conclusions from your analysis. II. Your Analysis of theArticle (5-8 pages)
· Analyze thearticle by taking a point of view: do you agree with the article? · Make note of how thearticle deals with the theories covered in BU 530: do you think it lacks soundtheoretical analysis? · Also make note ofwhether the article needed additional facts: do you think it needs morerelevant facts? If so, then be sure to mention additional references. · etc.

III. Conclusions (1 page)
IV. Bibliography
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The article written by Jerome S. Engel and Itxaso del-Palacio "Global clusters of innovation: The case of Israel and Silicon Valley" reveals the information concerning the notion that came to our lives not long time ago - Clusters of Innovation (COI). The article dwells in-depth on the relationships between different COI and how these links may lead to the creation of Networks of Clusters of Innovation (NCOI), that do have new benefits and this consequently become a starting point of Super-Clusters of Innovation (Super COI). The case study introduced in the article illustrates the necessity to consider all COI in international context, as in globalization era valuable information of other clusters and global resources, inputs and access "can accelerate innovation and cluster development" (Engel, 2011, p.27). The Israel example described in the article picturizes in details the efficiencies that Israel COI get while maintaining connection with other COIs, particularly with Silicon Valley. The main idea authors try to convey is that COI cannot exist in isolation, to take full advantage of this formation the global context should be recognized and applied. COIs include intangible processes, like entrepreneurial practices, mobility of resources, alignment of incentives etc. Regions that accumulate and develop these processes start emerge and thrive rapidly, the examples here are Silicon Island in Singapore, Silicon Wadi in Israel, Silicon Bog in Ireland, Silicon Glen in Scotland. These clusters proved to be so much successful due to the synergies they got through connections of similar clusters from different regions. "Cluster of Innovation is an environment that favors the creation and development of high potential entrepreneurial ventures, and is characterized by heightened mobility of resources, including people, capital and information. It typically includes start-ups; small, medium, and large corporations; universities and research centers; entrepreneurs; investors; and service providers as well as other individuals and organizations that: use entrepreneurial intensive process as a mechanism for innovation and experimentation; have heightened mobility of resources, principally people, technology, and capital; create companies with an early international perspective; and have players who have shared identities and aligned goals" (Engel, 2011, p.32). At this point the role of government is also very important. Borders transparency, legal system preferable for interstate connections, maintenance of economic incentives etc are very important issues in process of COI creation and flourishing. I agree with the ideas revealed in the article. The clusters of innovation are really strong powers that helps to make regions developed and prosperous. Companies that operate in the area or start-ups that see their future with cluster development can easily obtain the necessary resources and access to inputs (like suppliers,...

Bibliography: Delgado, M., Porter, M., Stern, S. (2011). Clusters, convergence, and economic performance. Retrieved March 11, 2011 from http://www.isc.hbs.edu/pdf/DPS_Clusters_Performance_2011-0311.pdf
Porter, M
Delgado, M., Porter, M., Stern, S. (2010). Clusters and entrepreneurship. Journal of Economic Geography. Retrieved 2010 from http://joeg.oxfordjournals.org/content/early/2010/05/28/jeg.lbq010.full.pdf+html
Engel, J
Engel, J. & Palacio, I. (2009). Global networks of clusters of innovation:
Accelerating the innovation process
Feldman, M. (2011). Location, location, location: Creating innovation clusters. Democracy journal. Retrieved Summer 2011 from http://www.democracyjournal.org/21/location-location-location-creating-innovation-clusters.php?page=all
McPherson, L
Characterizing cluster innovation: an approach from the wood products sector (1998). Retrieved from http://in3.dem.ist.utl.pt/downloads/cur2000/papers/S05P05.PDF
Fallah, H
Braun, P. (2003). SME networks: clustering for regional innovation purposes. Retrieved October 1, 2003 from http://www.cric.com.au/seaanz/resources/84BraunClustering.pdf
Innovative clusters (2001)
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