Innovation clusters and regional development

Abstract

© 2018 Allied Academies. In current competitive environment, creating clusters is a process with the best prospects for regional economy development. At this economic cooperation option, economic benefits are higher. Innovation clusters are the specific ones, as they have not only the economic effect, but foster scientific and technological potential and boost technology development. This article depicts the economic essence of the Russian concept of the long-term innovation development within the regions. As examples, we reviewed 13 regions of Russia. The method of SWOT analysis was applied in order to estimate the acuteness of the problems typical of the clusters and their territories and the relevance of the goal sets stated in the programs. Effective clusters give a boost to innovation while their members gain advantages, such as susceptibility to innovation, rationalization, outpacing productivity growth.