Social capital and social networks in the life sciences industry clusters. An analysis of selected case studies

Subject and purpose of work: The study aims to explore the role of social capital in the new concept of “effective” cluster, by exploiting not only its human and financial assets but also the social networks with the cluster. Materials and methods: The study presents the case-study findings of the five life-sciences clusters which were conducted in 2018-2019. Additionally, the article discusses the role of social capital and the collaborative efforts within the life sciences clusters during the Covid-19 pandemic. Results: All the analyzed cluster environments have their own social dynamics. Considering the scale and scope of social ties, the Cambridge and Medicon Valley clusters conform with the concept of the "functional clusters", while the Bay Area and Seattle clusters can be classified as “effective clusters”. Conclusions: All the cluster ecosystems have evolved from different origins and they follow different evolutionary paths. Yet, clusters with richer social capital achieve higher collaborative synergy, leading to an increase in knowledge spillovers and innovations. Public policies should focus on the active promotion of social networks and market-oriented intermediaries connecting main cluster partners.