For sustaining its economic growth, Europe needs to become more innovative. The Special European Council acknowledged this fact in 2000, leading to the creation of the Lisbon Agenda. Clusters, sector- or technology-specific agglomerations of firms across the value chain which are supported by a specific infrastructure such as Silicon Valley, have a high innovative potential (Krugman, 1991a; Baptista and Swann, 1998). Clusters can develop specific assets, relationships and interactions. These might then enable the protagonists to benefit from an earlier and clearer perception of buyers' needs, faster and more consistent learning about new technological, operational or delivery opportunities, experimentation at lower costs and faster times to market (1998b; Porter, 2008). Accordingly, clusters form a cornerstone in the European Commission's strategy to increase European innovativeness (Commission of the European Communities, 2005; EurActiv.com, 2006).
KeywordsDynamic Capability Theory Building Innovation Capability Regional Innovation System Cluster Research
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