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Industrial clusters, creating a strategy for continued success.

David McKernan1, Olivia McDermott1

  • 1College of Science & Engineering, University of Galway, Ireland.

Heliyon
|April 15, 2024
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Summary

This study on the Irish Medtech cluster reveals opportunities for growth by enhancing entrepreneurial culture and R&D investment. Collaboration and supportive policies are key to sustainable competitive advantage for industrial clusters.

Keywords:
ClusterEuropeIrelandMedical deviceMedtech

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Area of Science:

  • Innovation Studies
  • Economic Geography
  • Regional Development

Background:

  • Industrial clusters are vital for economic growth and innovation.
  • The Irish Medtech cluster presents a unique case for studying cluster dynamics.
  • Understanding cluster shortcomings and opportunities is crucial for policy development.

Purpose of the Study:

  • To describe and propose an effective strategy for industrial cluster development.
  • To investigate cluster-promoted growth within the Irish Medtech sector.
  • To identify opportunities for enhancing the cluster's entrepreneurial culture and R&D investment.

Main Methods:

  • A qualitative study was conducted.
  • Key stakeholders within the Irish Medtech cluster were interviewed.
  • The research focused on identifying cluster shortcomings and future opportunities.

Main Results:

  • Significant opportunities exist for further cluster development.
  • Potential to double spin-outs and R&D investments.
  • Enhanced entrepreneurial culture and collaborative agency efforts are recommended.
  • Soft infrastructure (policies) is as crucial as hard infrastructure.

Conclusions:

  • Government policy should align local cluster needs with strategies for competitive advantage.
  • The findings offer a transferable approach for other industrial clusters.
  • Addressing both hard and soft infrastructure is essential for cluster success.