Determination of Critical Success Factors for the Development of Biotechnology Clusters

The essay explores the factors that initiate and drive the clustering of biotechnology companies, beginning with a definition of what constitutes a cluster. It discusses the potential benefits of clustering, referencing Porter's theories on business growth and new venture formation. Through ten case studies, the paper assesses critical factors influencing the creation and development of biotechnology clusters, evaluating whether Porter's claims hold true. The conclusion presents a theoretical framework to illustrate the virtuous cycle inherent in successful biotechnology clusters.