12.07.2015 Views

Abstract - Quest for Global Competitiveness - Universidad de Puerto ...

Abstract - Quest for Global Competitiveness - Universidad de Puerto ...

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AN ECONOMIC DEVELOPMENT PARADOX:THE IMPACT OF LINKAGES AND SYNERGIES AMONG LOCAL AGENTS INTHE DEVELOPMENT OF AN EMERGENT BIOSCIENCE CLUSTER ANDASSOCIATED ENTREPRENEURIAL ECOSYSTEMSABSTRACTAlthough bioscience industrial clusters have been wi<strong>de</strong>ly researched in the last<strong>de</strong>ca<strong>de</strong>, the role of knowledge creation, management, and transfer as driving <strong>for</strong>ces <strong>for</strong>industrial cluster competitiveness remains unclear. A better appreciation of knowledgecreation and retention as <strong>de</strong>terminants of industrial cluster success, and the role of <strong>for</strong>eigndirect investment may be of value to industry <strong>de</strong>cision makers, policy makers, andresearchers worldwi<strong>de</strong>. Our research revealed a paradox regarding the intensity of <strong>for</strong>eigndirect investment (FDI) by multinational companies (MNCs) and the limited <strong>de</strong>velopment ofa local entrepreneurial ecosystem in an emergent bioscience cluster. While cluster<strong>de</strong>velopment seems a logical outcome of MNC investment, our study <strong>de</strong>monstrated it is not a<strong>for</strong>egone conclusion. Our research of <strong>Puerto</strong> Rico’s bioscience cluster experience sheds lighton a key theoretical and policy issue: to what extent can the <strong>de</strong>velopment strategy ofattracting FDI from global multinationals be leveraged to transfer knowledge and <strong>de</strong>velopindigenous innovation capabilities? The paper draws upon national innovation systemsknowledge management, and social network theory to examine these issues.Keywords: bioscience clusters; competitiveness; entrepreneurial ecosystem; <strong>for</strong>eign directinvestment; knowledge transfer; innovation systems.2

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