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Varying definitions of clusters include: "...A geographically proximate group of inter-connected companies and associated institutions in a particular field, linked by commonalties and complementarities"; "...A group of inter-related industries that drive wealth creation in a region primarily through the export of goods and services"; "...A group of industries whose linkages mutually reinforce and enhance their competitive advantage. They can be each other's consumers, competitors, partners, suppliers or research and development sources."
The origins and trajectories of clusters differ. The initial stimuli for a cluster may have been the availability of raw material; suitable climate conditions; proximity to markets; chance events; R&D facilities; an educated workforce; a culture of entrepreneurship; or a culture that values higher education. It may take decades for a cluster to reach maturity. The evolution of the world's largest clusters has occurred over a long period of time. These were not planned per se and went unnoticed until they reached a level of activity that warranted attention. Examples include Hollywood's movie production, Dutch flowers and Silicon Valley North's electronics industries.
A cluster may progress through different stages including birth, potential, emerging, sustainable, mature and declining. This is not to imply that all clusters experience all of these phases. Clusters also vary in size from as large as Hollywood to as small as the highly-specialized clusters that pursue global markets and, "generate wealth well beyond many other localities in their country."
What makes a cluster successful? A number of important factors include: the availability of venture capital; critical mass; technical infrastructure; presence of higher education and research institutions; entrepreneurial drive; influence of champions; presence of an anchor firm(s); networks; quality of linkages; social capital; synergy; and, diversity. An intriguing aspect is that the factors that distinguish 'over achieving' from 'under achieving' clusters are so-called intangible assets, such as social capital.
While these intangible assets promote and cultivate collaboration, a high degree of competition plays a pivotal role in successful clusters. A major study on clusters notes that clusters that rely on competition and rivalry are significantly more competitive than clusters that rely on factor conditions, such as climate, stock of natural resources and geography.
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