Although defi nitions vary, it is generally accepted that industry clusters are made up of geographical agglomerations of organizations and associated institutions that are relevant to a particular industry (Delgado, Porter, & Stern, 2010; Porter, 2000). Research has established that industry clusters can provide a mechanism whereby participating fi rms benefi t as a result of enhanced competitiveness, regional branding and innovation spillovers. However, although some particularly famous clusters, such as California’s Silicon Valley or the Sports Systems Cluster in the Veneto, Italy, signifi cantly contribute to regional economic and fi rm-level prosperity, clusters are rarely a panacea for success. In reality, in the event that a clustered fi rm fails to achieve a competitive position, the act of clustering can catalyze fi rm failure (Brown, Burgess, Festing, Royer, & Keast, 2010; Organisation for Economic Co-ordination and Development [OECD], 2007). In spite of this, industry clusters have proved to be one of the most popular and frequently applied regional development strategies of governments over the last two decades.