innovation ecosystems and clusters

Innovation ecosystems refer to the networks, interactions, and environments that foster and support innovation within a specific region or industry. They involve various stakeholders such as businesses, research institutions, government organizations, and investors collaborating and sharing resources, knowledge, and ideas to drive innovation. Clusters, on the other hand, are geographic concentrations of interconnected companies and organizations that specialize in a particular industry or field. Clusters create a collaborative environment where firms benefit from proximity to one another, allowing for knowledge sharing, talent attraction, and the exchange of ideas, resulting in increased innovation and competitiveness within the cluster.

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