Technological Parks, Clusters, and Innovation Networks: Expected Transformation of Innovative Sectors

Abstract

This chapter deliberates Malaysia's involvement in innovation sector transformation and describes concepts of technological parks, clusters, and innovation networks. A vast of academic writings have been found interest toward the issues. Thus, this chapter also defines the important terms and highlights some literatures in Malaysian context as innovation clusters and networks have given rise to a vast stream of works in recent years. Innovation has been recognized as an important factor for the success of Malaysia with the support of new technologies and new product development. Malaysia Technology Parks helps to accelerate product innovation within the private sector in collaboration with higher institution education and research agencies from government agencies, government link companies, or nonprofit organizations. In Malaysia, innovations take place in industrial clusters whereby from this clustering, the industry will benefit the cost reduction, access to talent, easy access to information, and opportunities for more collaboration and networks. Innovations could be seen to relate to business networks from interaction between business partners or through changes to interaction patterns among various business partners. Finally, this chapter highlights the expectation in innovative sectors, the strategy and type of industry boomers in Malaysia, and technological transformation as a platform for innovative industry.

Citation

Abu Bakar, L.J. and Jaaffar, A.R. (2021), "Technological Parks, Clusters, and Innovation Networks: Expected Transformation of Innovative Sectors", Sergi, B.S. and Jaaffar, A.R. (Ed.) Modeling Economic Growth in Contemporary Malaysia (Entrepreneurship and Global Economic Growth), Emerald Publishing Limited, Leeds, pp. 59-69. https://doi.org/10.1108/978-1-80043-806-420211006