Innovation Cluster and Economic Development in Bucharest Ilfov Region
Innovation Cluster and Economic Development in Bucharest Ilfov Region

Summary/Abstract: Simultaneous globalization tendencies have created policy challenges for national and local governments. One response to these challenges has been a dramatic proliferation of development policies based on clusters of firms and industries. In EU Strategy 2020 – COM 546/6.10.2010 Initiative “An Union of Innovation”, COM 614/27.10.2010 Initiative “Industrial Policy in the Globalization Era” innovative clusters were considered the “engine” of economic development. They represent a framework for business development, collaboration between companies, universities, research institutions, suppliers, customers and competitors located in the same geographical area. Clusters of small and medium sized firms in developing economies are coming under increased pressure from competition as products mature, technology becomes widely available, and companies seek lower cost locations for production. In this paper, we consider that the cluster is an engine for economic development in our region and we need to have a regional strategy for clusters in Bucharest Ilfov Regional Development Plan for 2014-2020.

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