The growing importance of the knowledge economy and technology-focused regional clusters upon economic development has seen a new perspective brought in light of the recent global economic turmoil. The events of the past two years have demonstrated the truly global and inter connected dimension of technology and enterprise, while highlighting the benefits of collaboration and the risks of not working together. Previous studies have examined technology and business cycles, as well as regional economic development and the role of collaboration in innovation. The roles of academia, industry, and the private sector within innovation systems at the national and regional levels have also received significant consideration. Through detailed study of the needs and opportunities of the Life-Science Nanotechnology Sector, it has been shown that the determining factors for success centre around the people involved and how they work together. In parallel, the study has made use of the Swansea University involvement in the Texas/United Kingdom Collaborative to explore five core components of effective and impactful collaboration, namely: People, Culture, Economics, Science and Governance. In conclusion a number of recommendations are made to assist a region in successfully harnessing the potential to lever participation in a global network as part of a strategic approach for development of a sustainable regional technology cluster.
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