A technological cluster is a geographical concentration of related technology firms including competitors, suppliers, distributors, and customers; usually around scientific research centers and universities. Well known clusters include Detroit for automotives, New York City for financial services and advertising, and Silicon Valley for electronics. Globalization of the value chain with increased outsourcing and off-shoring has resulted in emergence of new technology clusters around the world, e.g., Bangalore in India. clustering creates externalities that could fuel innovation and drive economic growth. There is a growing interest by regional planners and policy makers around the world in strategies that promote development and growth of technology clusters they view vital to the economies of their regions. Professor Hosein Fallah (hfallah@stevens.edu ) leads a research program in this area focused on the influence of technology clusters on innovation. |
