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The Contribution of Innovative Clusters to Regional Investment Attractiveness
15 February 2018

A great deal of activity is in evidence today surrounding the formation of companies and the scaling-up of their operations — startups and scaleups. The largest contribution to employment growth is being provided by just 3% of the most dynamic companies. This poses a new challenge for national economic policy. Some answers may be found in a cluster policy. The structure of a cluster is formed by existing companies which have already established themselves, cemented their position in business or science, and matured to the point of being able to undertake joint action. Clusters can help strengthen the demonstration effect for fast-growing companies by facilitating more intensive and open communication between their members. A number of existing fast-growing companies (for example, from the list of ‘national champions’) whose competitiveness is chiefly dependent on their local surroundings, can form clusters around themselves, attracting new organizations and transforming existing ones. Are traditional support measures in the sphere of small and medium-sized businesses and innovation sufficient to stimulate the scaling-up of successful companies? What new tools can be proposed for the support of fast-growing companies, and how can old tools be reoriented for these purposes? What is the role of leading Russian clusters in the realm of cutting-edge technologies and in transforming the stream of startups into a stream of fast-growing companies?

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