Why do startups and SMEs in a business cluster thrive within the innovation landscape?
Innovation is often seen as a linear process, going from research to application and implementation. However, the real approach strongly relies on the existence of linkages, and that is where clusters take centerstage: Business clusters are more than just groups of companies; they are dynamic communities where businesses, suppliers, and entities from different backgrounds come together to share knowledge, collaborate, and grow.
Being part of a cluster can make a world of difference for your team. Here’s why:
- Access to specialized resources
Joining a business cluster entails accessing a diverse group of innovators, researchers, suppliers, service-providers, and even facilities within a defined geographical area. These linkages, as well as the established spirit of collaboration and support, allow each individual business to immensely benefit from materialistic and intellectual resources, facilitating faster growth and development.
- Increased visibility and credibility
Being a part of a business cluster isn’t just about fitting in – it’s about standing out. A well-known, well-established group of businesses can elevate your company’s reputation, making you more attractive to customers, investors, and partners. This is especially true when it comes to regional and international certifications. A certified cluster can further enhance your credibility, making it a strategic way to build trust and open up new opportunities for advancement and success.
- Advocacy for policy changes within your industry
Clusters often act as the collective voice of an industry, advocating for policies that benefit all actors of the chain. By joining a cluster, your startup could play a role in shaping the rules and regulations that affect the business.
- Access to new markets and innovation opportunities
Clusters provide businesses with access to new markets and export opportunities by fostering international collaborations through exhibitions and funding programs. They seek to establish in-house incubators or technology centers, bridging research with industry challenges to drive innovation. Additionally, clusters offer access to advanced technology and sustainable practices, helping businesses meet the standards of competitive markets like those in the EU.
About Euromed Clusters Forward
Euromed Clusters Forward is a pioneering initiative aimed at enhancing the Euromed region’s cluster ecosystems by improving regulatory frameworks, boosting strategic planning, and fostering alliances among EU and Southern Mediterranean clusters. Funded by the European Union and coordinated by Anima, this 4-year project promotes inclusive innovation, enhances sustainable growth, drives economic diversification and boosts employment in the Euromed region.
