This paper focuses on how emerging industries are influencing clusters within the Europe. The text signifies three main areas of relevance in this regard; identification of new growth areas, policies – their support and a role of policy makers, and the relevance of existing policy measures and actions at the European community level. The text also provides a set of recommendations focused on betterment of the position and effective transformation of European industry as well as the re-build of economic strength of Europe. The text points out the significance of clusters and cluster innovations to this process, as they can accelerate the process through the four elements of: Demand, Innovation, Competence and Time.