Keywords: innovation, entrepreneurship, entrepreneurial clusters, entrepreneurial regions, habitat
Fostering and sustaining entrepreneurial regions
Entrepreneurship clusters in regions that have a favourable business environment or habitat. Some entrepreneurs succeed, against all odds, in less favourable habitats; however, these cases are not the norm and do not give rise to clusters of entrepreneurship. There is now a considerable amount of study of entrepreneurial clusters in various regions of the world that include an analysis of the institutions necessary to facilitate and sustain such a cluster. Broadly speaking, the features of these entrepreneurial clusters include a favourable regulatory regime, advanced research universities and research institutes that are well connected to industry, a flexible and mobile work force, mechanisms for maintaining global linkages, and formal associations and informal mechanisms that foster collective learning for the whole cluster. We will explore the character and development of these institutions by drawing upon studies of a number of established entrepreneurial clusters.