Creating virtually-connected innovation hubs to drive economic growth

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In the last few years, virtually connected clusters have emerged in the United Kingdom, South-East Asia and everywhere in between – CNBC included Bangalore, Dublin, Hong Kong and Copenhagen on its list of up-and-coming global technology cities.

Next Generation Clusters, a paper by networking and technology services firm Cisco, explores the idea that virtually-connected clusters shouldn’t be limited by geographical proximity. It also highlights the ways that these clusters can fuel the shift towards an open, borderless innovation and drive economic growth:

  1. Community trumps geography – Social networks and online collaboration tools have made it easier than ever for digital communities to form around collective ideas and shared expertise.
  2. Connecting ideas with markets - The best kind of digital community seeks out niches and connects relevant ideas with relevant audiences. This can spark partnerships, projects and conversations and set the stage for wealth creation and new creative capital on an international scale.
  3. Supercharged agility - By drawing on the knowledge of a virtually connected cluster, entrepreneurs can gain instant feedback on ideas, conduct proof-of-concept market tests and quickly incorporate changes and considerations. This can dramatically reduce product development cycles and allow new products and initiatives to be launched at a rapid pace.

Read the full article by Trent Lund in PwC’s Digital Pulse.

Image: HubAdelaide