The Fourth Industrial Revolution has become a global buzz word since the World Economic Forum adopted it as an annual issue in 2016. It is represented by hyper automation and hyper connectivity based on artificial intelligence, big data, robotics, and Internet of things. AI, big data, and robotics can contribute to developing hyper automation that can increase productivity and intensify industrial production. Particularly, robots using AI can make decision by themselves as human being on complicated processes. Along with the hyper (...) automation, the hyper connectivity increases not only at national, but also global level by using information and communication technologies. IoT is the core technology to create the hyper connectivity in Cyber Physical System that connects technology, nature, and human being. Accordingly, a perfect convergence between ICT and manufacturing can be completed in the Fourth Industrial Revolution era and an extremely efficient flexible production system by spreading IoT in CPS will be established. Under such a condition, innovative clusters must play their traditional roles in cradles of technology innovation and commercialization. It must be difficult challenges for innovative clusters to meet their targets and to be adjusted by the changing new environment at the same time. This paper argues how the Fourth Industrial Revolution can change the global production chain and how core technologies function in industries. Furthermore, it focuses on how innovative clusters have to evolve to respond the Fourth Industrial Revolution. Last, but not least it also analyzes whether or not innovative clusters can play their roles as technology innovation hubs in the real world and CPS in the Fourth Industrial Revolution era. (shrink)

In line with the new trend of the global economy, building innovative local clusters has become one of the core strategies to enhance economic development not only in the developed but also in the developing nations. Particularly the role and potential of localized innovation processes within clusters have been attracting considerable interests among scholars and policy makers alike. It is argued that the intensity and quality of competition is enhanced by the proximity of competitors in clusters. The paper argues how (...) to identify the tasks and strategies necessary in order to build locally embedded innovative clusters. (shrink)

In a knowledge-based economy, the role of regions is regarded as very significant for creating and dispersing knowledge. Particularly, geographical clusters of firms in a single sub-national region and cross-border regions may contribute to transmitting certain kinds of knowledge between and among firms. In addition, markets prefer to favor specialized firms with a coherent body of knowledge when knowledge creation and the use of new knowledge become increasingly important for maintaining and improving a firm’s competitiveness. This means that regional policy (...) makers may not interfere directly with markets and firms when the process of globalization pushes national economies into a world of learning and innovation because the institutional framework for market exchange favors knowledge exchange in a globalizing economic system. This paper argues how a cross-border cluster in the Öresund region between Denmark and Sweden has been created, and which strategies it focuses on in order to strengthen its competitiveness and to generate a further development that aims to become a global innovative cluster. Moreover, it discuses whether the Nordic cross-border cluster, the Medicon Valley is a unique approach in the EU context or not. Finally, it argues how it has created technology innovation as well as contributed to the regional economic growth. (shrink)

In a knowledge-based economy of the globalizing economic order, the role of regions is very significant in order to create and to disperse knowledge. Particularly, geographical clusters of firms in a single sub-national region may contribute to transmitting certain kinds of knowledge between and among firms. In addition, markets prefer to favor specialized firms with a coherent body of knowledge when knowledge creation and the use of new knowledge become increasingly important for maintaining and improving a firm’s competitiveness. Therefore, regional (...) policy makers may not interfere directly with markets and firms when the process of globalization pushes national economies into a world of learning and innovation. The reason is that the institutional framework for market exchange favors knowledge exchange in a globalizing economic system. This paper argues how East Asian science cities such as Tsukuba Science City in Japan, Daedeok Innopolis in South Korea, Hsinchu Science-based Industrial Park in Taiwan, and Zhongguancun Science Park in China have been developed in order to create technology innovation as well to contribute to national and regional economic growth. Moreover, it also focuses on their competitiveness and the further development strategy that aims to become global science cities. Finally, it also discusses whether their competitiveness as innovative clusters is based on global or local levels. (shrink)