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Abstract: In February 2012, Lars Kolind, chairman of Welfare Tech Region, a cluster organization in Southern Denmark that promotes the use of technology to assist people with daily living activities, considered the challenges that the cluster organization's member companies face in developing and commercializing new products on the global market. The case explores whether regional innovation strategies can help foster the global competitiveness of small countries. It focuses on critical issues related to the development and commercialization of new products, influenced by factors such as national innovation culture, product choice, access to capital, human resources and ability to attract talent.
Learning Objective: This case explores how regional innovation systems (clusters) can serve as centers of global competitiveness through product development and commercialization. It examines the challenges and opportunities associated with the development and commercialization of new products and understanding the dynamics of fostering regional innovation in a climate of competing needs.