Clusters can be defined as sectoral and geographical concentration of enterprises, in particular Small and Medium Enterprises (SME), faced with common opportunities and threats which can:
- Give rise to external economies (e.g. specialised suppliers of raw materials, components and machinery; sector specific skills etc.);
- Favour the emergence of specialized technical, administrative and financial services;
- Create a conducive ground for the development of inter-firm cooperation and specialization as well as of cooperation among public and private local institutions to promote local production, innovation and collective learning.
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