This is the Final Report of the study "Strategies for Innovative and Effective ICT Components and Systems Manufacturing in Europe" entrusted by the European Commission DG Connect to IDC and FORA. This study has identified and profiled 48 European clusters, focusing on their strengths and weaknesses and their key success factors for innovation performance. A comparative analysis with 10 leading international clusters, from the US and Asia, has led us to identify the most effective mix of policies and funding measures, able to support the successful development of the clusters.