CHAPTER 2

Innovation Clusters

Introduction

Entrepreneurship has become a popular career path in developed and developing countries, a phenomenon that has contributed to the intense interest in the subject shown by researchers and policymakers around the world.1 In 2011, for example, the Global Entrepreneurship Monitor (GEM), a partnership between the London Business School and Babson College that administers a comprehensive research program to produce annual assessments of national levels of entrepreneurial activity, estimated that there were 388 million entrepreneurs distributed around the globe and engaging starting and running new businesses. Many commentators, beginning with Schumpeter, have argued that entrepreneurship is crucial for understanding ...

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