Business Clusters
What is a Cluster? “A cluster is a geographically proximate group of companies and associated institutions in a particular field, linked by commonalities and complementarities.” ~ Michael Porter On 14 September 2004, the French government adopted a new industrial strategy based on the establishment of “competitiveness clusters”, as defined by the Interministerial Committee on Territorial Planning and Development (CIADT). A business cluster is an industrial pillar that drives competitive economic development and stimulates job creation. It is designed to concentrate within a pre-defined territory or geography a broad range of companies, public and private research institutions and multi-level educational organizations focused on a specific technology-driven industry. Cap Digital is a response to this French industrial policy. It has been founded on 3 key principles:
- A development strategy consistent with the broader economic development plan of the entire region
- Strong fabric of public and private partnerships
- Concentration of high-growth knowledge-based industries
- The promising growth potential of the Digital Content and Knowledge Creation industry as an important economic engine; the French market is valued at approximately €12B of which Greater Paris or IDF represents 80%.
- The employment growth rate of IDF; the region counts over 400,000 potential jobs in the ICT industry of which 75% are related to digital content and application fields.
- The ready pool of relevant talent and skilled workforce from the nation’s best schools, universities, research labs and multinational companies; the second highest in Europe in terms of quantity and quality.
- The strong fabric of support and joint efforts of the Paris municipalities, the suburban districts of IDF, the Paris Regional Economic Development Agency (PREDA), Chamber of Commerce, etc.
