The Impact of Regional Innovative Clusters on Competitiveness

AbstractEU's policy tendencies aimed at stimulating the development of competitive agglomeration are determining Member States to steer public measures to support associative forms such as clusters or poles of competitiveness. In Romania, the crystallization of this type of association is driven by the dynamics and increasing flexibility of the business environment, the impulse from abroad and the opportunity to access European funds to finance such projects.The innovative cluster concept approach is based on the “four leaf clover” model, consisting of a partnership between four categories of stakeholders: the business, the academic and research institution, the public authority and the organizations’ catalyst, in a relationship of mutual interaction.Clusters are groups of independent companies (start-ups, small, medium and large enterprises and research organizations) acting in a specific area, in order to stimulate innovative activity by promoting intensive interactions, the use of common facilities, exchanges of experience and knowledge and by contributing to technology transfer, networking and information dissemination among the cluster's enterprises.Against the background of a global financial crisis and intense competition to conquer new markets, in this paper we show how firms can gain a competitive advantage by participating in an innovative cluster that bestows important benefits upon its members.Innovative clusters are most likely to provide a new type of economy based on innovation, by means of producing dense knowledge flows for strengthening entrepreneurship by stimulating the formation of new businesses, thereby influencing the regional economic performance.By enhancing competitiveness, stimulating innovation and generating entrepreneurial initiatives in order to rejuvenate and diversify businesses, the clusters are acting as local development tools