Page 35 - Synapse Survey 2021

Economic
Appendix D

Clusters

WHat aRE CLuStERS? CLuStERS aRE iMpoRtant

Clusters are a collection of interconnected and supporting A cluster allows each member to benefit as if
organizations that operate within a bounded geographic it had greater scale or as if it had joined with
region. Clusters encompass an array of linked industries others without sacrificing its flexibility . Clusters
1
and other entities that are important to competition.
Basic cluster composition includes private organizations provide increased productivity through better
that generate economic value, as well as supporting access to employees and suppliers, access to
institutions such as universities, care centres, industry specialized information, access to institutions
groups, accelerators, trade associations, and research and public goods, and better motivation and
institutes. Clusters serve as engines of growth for measurement. Clusters also drive the direction of
cities and regions in order to accelerate innovation, pace and innovation resulting in the formation of
build knowledge creation, unlock opportunities for new businesses.
collaboration, and enhance competition.
“it iS a WELL-EStabLiSHED faCt
Life science clusters specifically, have a focus on
excellence in research and the translation and delivery of tHat oRganizationS aCtivE in
innovation. Businesses, academics, and hospitals play a REgionS WitH StRong CLuStERS
2
key role in a successful life science cluster. pERfoRM bEttER.”

Supporting Institutions

Research Centre, Group or Institute

Private Sector

Incubators / Pharmaceutical Medical
and Drug
Devices
Accelerators Products & Equipment Professional
Services

Government / Digital Research, Specialized
Testing &
Public Service Health Medical Labs $ Capital

Post-Secondary Institutions and Specialized Hospitals / Care Providers Industry Groups / Commercial Spaces

1. Michael E. Porter. Cluster and the New Economics of Competition (November 1998).
2. Örjan Sölvell, Göran Lindqvist, Christian Ketels. The Cluster Initiative Greenbook (May 2014).

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