Life Cycle of Clusters in Designing Smart Specialization Policies

Book excerpt: This book investigates cluster-life-cycle (CLC) analysis to inform the entrepreneurial discovery process (EDP), in order to support the effectiveness of the smart specialization strategy (S3). It focuses on the evolutionary analysis of clusters’ development stages (emergence, development, maturity, decline/transformation), highlighting how different phases of the CLC have a different role in informing S3-policy-making and identifying regions’ potentials to specialize. In so doing, it offers an original conceptual model that explains what information can be provided by CLC analysis in the effective design and implementation of S3 and EDP, systematizes clusters' stage-specific features, and unveils the role played by each CLC stage. It contributes to the emerging academic debate on the role of the CLC concept in policy-making, by highlighting the importance of CLC analysis in dynamically investigating regional contexts and tailoring development policies such as S3. The book is an invaluable resource for academics and regional policy makers, providing them with guidance and recommendations on how to effectively approach the design and implementation of S3 and EDP, by fully tapping the potential of CLC analysis.