Why we in the Canary islands miss opportunities to exploit, for a knowledge-based economy, the availability of good ideas and innovations?
New global markets with no competition The economical crisis of traditional industry sectors could foster investment in the knowledge based economy Losing the technological race with other competitor nations Cuts
in R&d funds and investment due to the global economic crisis Cuts in Education/training funds/investment due to the global economic crisis Emigration of talented and highly qualified personnel International and National
Statistical Regional Institute Set up a team involving the necessary stakeholders for designing the strategy Clarify the scope and dimensions of the RIS3 for the correct development of the strategy Identification of funding sources,
THE POLICY CONTEXT OF SMART SPECIALISATION Europe is facing major economic challenges that require an ambitious economic policy for the 21st century.
sustainable growth, promoting a more resource efficient, greener and competitive economy; inclusive growth, fostering a high employment economy delivering economic, social and territorial cohesion.
Investing more in research, innovation and entrepreneurship is at the heart of Europe 2020 and a crucial part of Europe's response to the economic crisis.
So is having a strategic and integrated approach to innovation that maximises European, national and regional research and innovation potential.
and aims to deliver sustainable economic growth and social benefits from Information and Communication Technologies (ICT).
and the knowledge economy in all regions. 2 http://ec. europa. eu/europe2020/index en. htm 3 See previous footnote. 4 http://ec. europa. eu
They get stakeholders fully involved and encourage innovation and experimentation; They are based evidence and include sound monitoring and evaluation systems.
because the development of an economy based on knowledge and innovation remains a fundamental challenge for the EU as a whole.
as an important innovation effort and considerable investment is required to shift towards a resource-efficient and low carbon economy,
and a global role for every national and regional economy, including both leader and less advanced territories.
All regions have a role to play in the knowledge economy, provided that they can identify comparative advantages and potential and ambition for excellence in specific sectors or market niches.
and the eminent role the various innovation stakeholder and entrepreneurs are 8 Council Conclusions on Innovation Union for Europe, 3049th Competitiveness Council meeting.
And it is not only a reinforced stakeholder involvement and strong internal connectivity that counts but smart specialisation is also pointing regions towards more strategic cross-border
as it is the one of the essential keys for ensuring that all stakeholder incentives and behavioural responses are aligned correctly
and linking them to a limited number of priority economic activities, countries and regions can become
and remain competitive in the global economy. This type of specialisation allows regions to take advantage of scale, scope and spillovers in knowledge production and use,
Furthermore, strategies that combine innovation with specific strengths of the national/regional economy offer a much greater chance of success. Imitating other regions by trying to create'miracle growth'in headline industries such as semiconductor
i e. the regional innovation and economic system is considered often in isolation. They are not in tune with the industrial and economic fabric of the region;
This issue is even more critical in the current economic crisis where public and private financial resources are scarce.
while focusing scarce human and financial resources in a few globally competitive areas in order to boost economic growth and prosperity. 14 For more information about previous innovation activities funded by the EU,
However, who has the entrepreneurial knowledge in the regional economy? It may be held by firms, which is often the case in'advanced'regions rich in entrepreneurial experiments and discoveries.
In such cases the discovery concerns potential synergies (economies of scope and spillovers) which are likely to materialise between an existing activity and a new one.
RIS3 needs to be based on a sound analysis of the regional economy, society, and innovation structure, aiming at assessing both existing assets and prospects for future development.
The common principle that is central to such analyses is the adoption of a wide view of innovation that spans across economic activities
such as technological infrastructures, linkages with the rest of the world and the position of the region within the European and global economy,
and key challenges both for the economy and the society. Economic differentiation is one of the central principles behind smart specialisation.
which suggests that a regional economy can build its competitive advantage by diversifying its unique,
This analysis aims to build a systematic understanding of the areas in the economy and society that have the greatest potential for future development,
Ensuring participation and ownership The fact that RIS3 is based on a wide view of innovation automatically implies that stakeholders of different types
or major regional stakeholders. In order to secure that all stakeholders own and share the strategy, governance schemes should allow for'collaborative leadership,
'meaning that hierarchies in decision-making should be flexible enough in order to let each actor to have a role
Step 3-Elaboration of an overall vision for the future of the region Analytical evidence should be used to depict a comprehensive scenario of the regional economy
society, and environment shared by all stakeholders. The scenario constitutes the basis for developing a vision about where the region would like to be in the future,
in order to keep stakeholders engaged in the process, a task that is particularly challenging, given that a RIS3 is a long-term process.
thus allowing to embark new stakeholders and keep the current ones engaged. Example 4-The vision of Flanders Step 4-Identification of priorities Priority setting in the context of RIS3 entails an effective match between a top-down process of identification of broad objectives aligned with EU
suggesting that a regional economy can build its competitive advantage by diversifying its unique, localised knowledge base (existing specialisation) into new combinations/innovations
Hence, the work for this analytical step of a RIS3 strategy should combine the above types of analyses with other analyses aiming at shedding light on potential for knowledge-based transformation of the economy, based on information on the positioning of the regional
economy in international value chains and on identification of specific key assets. Several methods can be used to support the identification of potential niches for smart specialisation.
quantitative analyses calculate degrees of specialisation of regional economies on the basis of employment (or value-added) data.
Location quotients measure whether some sectors are represented over in a regional economy compared to other regions or countries.
predictability of the innovation policy framework for regional stakeholders; reliance on the consultation and support of regional stakeholders as a basis of innovation policy;
degree of control over strategic regional assets. Policy mix and framework conditions: cooperation between the local, regional, national and EU levels in the relevant policies (R&d, innovation, education, ICT;
Adding key stakeholders from foreign clusters brings in a useful peer review dimension to the analysis. 4. Foresight:
), Skill-relatedness and firm diversification, Papers on Economics and Evolution 0906. Jena Evolutionary Economics Group, Max Plank Institute of Economics. 23 Henning M.,Moodysson J. and Nilsson M. 2010), Innovation and Regional Transformation:
from clusters to new combinations, Region Skane. 24 European commission (2001), FOREN Guide-Foresight for Regional Development Network-A Practical Guide to Regional Foresight.
since different stakeholders will have different expectations and agendas on the question at stake, often restricted to their own areas of action.
the above wide view means that several policy areas are concerned with the RIS3, beyond the traditional science and technology and economy ministries and agencies.
Interministerial Committees are tools to cope with this need for a wide conclusion of stakeholders. A RIS3 is an exercise that deals with policies developed by local,
This multilevel dimension of policy implies that governance mechanisms need to include stakeholders and decision-makers from these various levels.
How Europe's Economies Learn. Coordinating Competing Models: Different modes of innovation. 35 delivery instruments
groups that were interested more in preserving the regional status quo than transforming the regional economy through innovation.
the regional governance system should be opened to new stakeholder groups coming from the civil society that can foster a culture of constructive challenge to regional status quo.
as in the case of RIS3, collaboration among stakeholders holds the key to successful implementation of innovative practices,
This in turn helps to overcome the sectoral and disciplinary silos that reproduce old habits and routines, locking regional economies into their traditional paths of development.
and management consultancy, all of which afford an overview of the regional economy. Formal recognition of the boundary spanning role,
and its significance for universities, businesses and the regional economy, would do much to promote a skill set that is critically important to the moderation of the RIS3 process, particularly of the entrepreneurial process of discovery,
regional authorities and development agencies will need to behave less like traditional public bureaucracies and more like innovation animateurs, brokering new connections and conversations in the regional economy.
universities, development agencies and regional governments could jointly identify a project to explore the prospects for related variety in the regional economy.
as well as their own diagnosis of the strengths and weaknesses of the regional economy, and these views were subjected to critical review through a combination of SWOT analyses and collective debate.
It is therefore vital that the regional Knowledge Leadership Group includes stakeholders operating both outside and in the region.
Such knowledge needs to be shared amongst the regional stakeholders, as all too often partnerships fail because of a lack of understanding of the other's business drivers.
it should attract regional stakeholders around a common bold project, a dream, which many feel they can contribute to and benefit from.
if the Vision cannot be taken seriously by regional stakeholders. At this stage, the purpose is to reach the willingness to act towards the transformation of the regions
These justifications go much beyond the alleged classical benefits of innovation for job and economic value creation.
Good communication of the RIS3 is essential to ensure its endorsement by all stakeholders of the region, and beyond.
and extending this target group by embarking stakeholders that are not yet part of the process. And it may serve the wider purpose of informing public opinion about the need to support the development of knowledge-based business in the region;
Report for the OECD. 34 Innovative Regions in Europe Network (2005), RIS Methodological Guide, Stage 0. 50 2. Identification of the stakeholder groups and their motivation:
active tools mainly include pro-active activities such as targeted visits to stakeholders or concerted workshops and seminars.
since all stakeholders in the region are supposed to adhere to the strategy and implement it in their own area. 51 Step 4-Identification of priorities Smart specialisation involves making smart choices.
and channelling resources towards those investments that have the potentially highest impact on the regional economy.
in order to select a few priorities focusing on the existing strengths of the economy but also on emerging opportunities.
economies of scope and local spillovers can be realised fully in the process of knowledge production and distribution. A regional economy clearly provides the appropriate dimensional framework for such processes of decision
strategic implementation, agglomeration of resources and materialisation of spillovers. However, national economies might also be a good framework,
particularly in the case of small countries. 52 But how to present the prioritised areas?
Research and innovation strategies for Smart Specialisation should address the difficult problem of prioritisation and resource allocation based on the involvement of all stakeholders in a process of entrepreneurial discovery
lifelong learning schemes for companies and individuals Engaging regional stakeholders in external production networks Securing national infrastructure investments to enhance connectivity Source:
1. Is the strategy based on an appropriate stakeholder involvement? How does it support the entrepreneurial discovery process of testing possible new areas?
For this reason, the major aspects related to the current and projected structure of the regional economy should be investigated in the preliminary,
Additional elements of interest with a view to a RIS3 are distribution by size and the innovativeness of firms in the regional economy,
such as the existence of a number of industries in need of modernisation or the dependence of the regional economy on a limited number of industries.
and channelling resources towards investments with a potentially higher impact on the regional economy. The distinctive elements that can guide review,
In order to help regional stakeholders to capture the critical lessons and knowledge about those delivery instruments,
i e. why the instrument is perceived as important for economic growth, what are the challenges and barriers,
rationale Smart specialisationguide Knowledge for Growth FWP evaluation Endogenous growth Innovation systems Innovative milieux Evolutionary economics Economic geography Policy Experimentation RIS-RITTS
allowing regions to create more value, reaching higher levels of excellence and thriving in the global economy.
and compare economic activities, including agriculture, and strengths with other regions in the EU. In the implementation phase, clusters can be used as efficient platforms that can focus on
to face up to the new forms of competition that are developing in the global economy. SMES are thus at the core of Cohesion Policy.
The resulting innovation ecosystem spurs new ideas, solutions and innovations of benefit to the European economy and society, as well as science.
The contribution of the stakeholders at regional and national level needs therefore to be enhanced. Regional and local authorities should work in partnership
Universities dealing with economics, public policy and administration, as well as those dealing with specific policy areas (such as industry, health, agriculture, environment and culture) can provide public authorities and private sectors with strategic advice,
Information and communication technologies (ICT) are a powerful driver for economic growth, innovation and increased productivity.
sustainable and inclusive economic growth through the realisation of the digital single market and the exploitation of the potential for innovation of fast and ultra fast internet and interoperable services and applications.
and more effective use of digital applications and services spurring innovation, increased competitiveness and economic growth.
particularly research and innovation, promoting the competitiveness of SMES and the shift to a low carbon economy;
goods and service innovation throughout the economy and are of systemic relevance. They are multidisciplinary,
capable of generating economic growth and employment and strengthening the competitiveness of the EU economy. They bear enormous market potential.
are vital for the emergence of new economic activities and the creation of new and sustainable job opportunities101;
and diversification in many industrial zones and rural areas with the potential to rejuvenate economies, stimulate innovation and contribute to growth;
However, in many regions, cultural and creative sectors constitute a major asset for the economy, and building on this asset should be considered in national/regional research and innovation strategies for smart specialisation.
and the spill over effects of CCIS on the wider economy, 'will provide in early 2012 a policy handbook identifying good practices in this field that might prove very useful for managing authorities,
and Convergence i e. supporting the economically less developed regions of Europe, implementing the knowledge-based economy,
and greener economy to boost its competitiveness and be able to sustain its growth. This is why sustainable growth is one of the priorities of Europe 2020,
which stresses the need for a transition to a green, low-carbon, resource-efficient economy as a new paradigm for sustainable growth.
This will result in an EU economy that is more competitive in a world of high energy prices and tough resource constraints and competition.
In this framework, public decision-makers and stakeholders in Europe's regions and cities, which are responsible for designing,
but it is critical in accelerating the transition towards a greener economy and getting the actors of innovation and environment working together.
ERDF resources are earmarked for thematic priority‘supporting the shift towards a low-carbon economy in all sectors;
In particular a closed-loop economy that aims to reduce in absolute terms, input, waste and the release of harmful substances along the value chain
liaising with the area-specific stakeholders in the field of energy, water and other natural resource management.
Eco-innovation-putting the EU on the path to a resource and energy efficient economy, Study and briefing notes',March 2009.163 Eco-innovation Observatory'The Eco-Innovation Challenge-Pathways to a resource
Second, a region's natural assets can be the very start of innovation activities and the development of new technologies or solutions, for instance in the case of renewable energy sources but also the expansion of the bio-economy.
They also contribute positively to diminishing the innovation divide by involving end-users (including disadvantaged groups) and stakeholders into innovation processes
It is important to link business, the public sector, the social economy and civil society. To make an impact,
Public sector is central in the delivery of many services of social and economic value. In this regard, it has a pivotal role in answering (together with private stakeholders and the civil society) today's major societal challenges such as demographic ageing, increased demand for healthcare services, risk
of poverty and social exclusion, the need for better and more transparent governance, and a more sustainable resource management.
and networking of local stakeholders to implementing active labour market policies. For the next programming period social innovation is treated in a horizontal way in the ESF regulation.
GUIDANCE FOR EXPERT ASSESSMENT 1. Is the strategy based on appropriate stakeholder involvement? How does it support the entrepreneurial discovery process of testing possible new areas?
1. 1 Has the strategy been developed through a broadly-based process of direct stakeholder involvement,
including mainly regional government/regional agencies, entrepreneurs, knowledge providers but also other/new stakeholders with the potential for innovative contributions, through measures such as surveys, consultations, dedicated working groups, workshops, etc.?
7. 3 How is the strategy to be communicated to stakeholders and the general public? What are the mechanisms for ensuring support for the strategy from critical groups and the active participation of such groups in its implementation?
without a disseminated impact at the level of all companies in the economy. The development is slowed by the quality of education and the availability of work force,
have cathalist and multiplication effects towards the other branches of the regional economy, are highly competitive at global level,
ensure regional economy'sustainable effect. Target at t1 moment (2020: allocation of 2%from regional GDP for research and development activities.
Key values that will animate regional stakeholders in delivering their missions: partnership creativity labour 3 responsibility Slogan Northeast Region smart specialization through people and local products Smart Secialization Strategy Structure Vertical priorities The Northeast
, Cluj, Magurele) Main objectives of the strategy-To increase the competitiveness of the Romanian economy through innovation-To enhance the Romanian contribution to the progress of frontier knowledge-To enhance the role of science in society 4 Procedural principles:
the potential for adding value (in the economy, public services, public decision-making etc. to the results of research;
Online consultation with RDI experts and stakeholders proposals of promising R&i programs for each candidate field;
Large-scale online consultation of experts and stakeholders on the 90 R&i fiches quantitative evaluation, backed up by pro/con arguments;
. 2014 Feedback from relevant stakeholders and political decision version July(?2014 Smart specialization fields Bioeconomy ICT Energy & Environment Eco-technologies Public interest priorities Health Security & Space National heritage & identity, cohesion and cross-cultural
informal discussions were held with teams in the Ministry of the Economy. The design of the strategy involved a number of collaborative procedures, from work in relatively large and diverse panels to participative online consultations.
1 ROMANIA AND SMART SPECIALISATION STRATEGY BACKGROUND DOCUMENT Economic context The Romanian economy, ranked right in the middle of the latest Global Competitiveness Report, is driven efficiency and displays low business sophistication.
and is separated from the average national economy in Europe by a considerable competitiveness gap. Most of its small-and medium-sized firms are driven not innovation
which, alongside a few large state-owned companies, play a dominant role in the economy. The structure of the labor force diverges substantially from the European trends.
After a consistent, threefold increase in public R&d financing in the years immediately preceding the economic crisis,
However, funds were slashed soon after the onset of the economic crisis. Around a third of the projected RDI budget was disbursed actually.
and stakeholders, including representatives of the business community. A commitment to the project was secured from a broad group of key actors decision-makers in relevant ministries and other public bodies, leaders of the important businessperson associations, members of the civil society, heads
and defined gradually by groups of experts and stakeholders, on the basis of available evidence,
13 panels of 15-25 experts and stakeholders worked from this input as well as a large selection of data on the economic value added, on scientific collaborations and results, on societal needs,
proven scientific performance, the potential for adding value (in the economy, public services, public decision-making etc.
Knowledge-based economy, European union, R&d, SMES JEL CLASSIFICATION: L29, O11, O30, O52 1. INTRODUCTION As we are facing the transition to the knowledge-based economy,
the role of R&d and innovation is constantly increasing. Because the challenges we are facing have a systemic nature, the instability,
A working definition emphasizes that the knowledge-based economy is characterized by the transformation of knowledge in raw material, capital, products, essential production factor for the economy,
which we can measure the volume of productive knowledge that is implied in the export structure the most competitive segment in an economy.
and services in a competitive way has structural implications for an economy; therefore, the raising complexity and diversification are critical premises for development as they influence directly the growth potential.
and shows a consistent transformation of the Romanian economy. Actually, it pictures the transition from an artificially sustained portfolio of products
1. There should be allocated more resources for building networks and clusters with other important stakeholders.
But if we look at the complexity of the economy there is clear evidence that since 1995,
or by building networks and clusters with other important stakeholders. Therefore there are some major managerial implications for SMES that derive from the analysis of the Romania's R&d and innovation potential in the European context.
project number POSDRU/159/1. 5/S/142115 Performance and excellence in doctoral and postdoctoral research in Romanian economics science domain.
International Review of Economics and Finance, 19,180-188. Hausmann, R.,Hidalgo, C a.,Bustos, S.,Coscia, M.,Chung, S.,Jimenez, J. et al,(2011.
Proceedings of the 7th International Management Conference"New Management for the New Economy",Bucharest, Romania.
Journal of Comparative Economics, 39,176-190. Martinez-Roman, J. A.,Gamero, J.,Tamayo, J. A. 2011.
Key strenghts and challenges of West region economy...16 III. 1. Main strengths...17 III. 2. Main challenges...
47 IV. 2. Horizontal policy areas that impact West Region economy...50 IV. 3. Sector specific smart policy areas in West Region...
Economic activity (Participation) and Unemployment by Level of Educational Attainment-West Region (2009)..23 Figure 9:
is to tackle structural weaknesses in Europe's economy, while reducing regional disparities in income, wealth and opportunities.
and on facilitating the development of new economic activities through entrepreneurship and experimentation. 1 II. Romania's West Region is developing a smart specialization strategy
Since the late 1990s the region has experienced rapid economic growth, which has delivered rising real wages and commensurate improvements in productivity.
Regional development has been unbalanced somewhat, with significant territorial disparities and a high concentration of economic activity and exports.
Second, economic activity is concentrated in a handful of sectors that represent about half the region's turnover and employment
and entrepreneurs and may help unlock the competitive and innovative potential of the West Region's economy. 8 I. Introduction 1. In 2010,
Smart specialization policies should follow a knowledge-driven approach to economic growth that: builds on existing comparative advantages;
and promotes a larger contribution of the knowledge factor to economic growth. 2 3. Against this backdrop,
iii) evaluated the linkages between economic activity, trade and location in order to identify the challenges of further developing
By focusing on particular sectors that have a considerable weight in the regional economy (automotive, textiles, agro-food, ICT, construction,
and rallying regional stakeholders and resources around an excellence-driven vision of their future. It also means strengthening regional innovation systems,
and spreading the benefits of innovation throughout the entire regional economy. http://ec. europa. eu/regional policy/sources/docgener/informat/2014/smart specialisation en. pdf)..9 ahead in these industries.
and aims to tackle both the structural weaknesses in Europe's economy exposed by the crisis,
in particular through peer reviews involving public officials, practitioners and regional stakeholders. The goal of this approach is to avoid unnecessary duplication and fragmentation of efforts,
3 The data refers to 2011 indicators 4 Economic activity rate (2011); Source: Eurostat 5 Data for 2010;
and cultural industries can help to boost local economies stimulate new activities, create new and sustainable jobs,
This policy provides a framework for financing a wide range of projects and investments with the aim of encouraging economic growth in EU Member States and their regions. 17.
4. supporting the shift towards a low-carbon economy in all sectors; 5. promoting climate change adaptation,
and evaluation systems, aim to fully involve all relevant stakeholders and encourage innovation and experimentation. 24.
Key strenghts and challenges of West region economy 26. In the run up to the EU accession
the Romanian economy experienced healthy rates of growth in incomes. This process was driven by the increasing integration of the Romanian economy with the EU Single Market,
which, despite significant progress, is still below the average of other new Member States. Following the post-transition recession, in the 2000's the country's economic expansion was fuelled by unrestrained access to EU capital and product markets,
As a result, the Romanian economy experienced growth averaging 6. 5%per annum and saw GDP per capita rise from 26%of the EU average to 49%between 2000 and 2011 (Figure 1). Figure 1:
The region has experienced rapid economic growth which has delivered rising real wages, supported by commensurate improvements in productivity. 33.
and thus continued high economic growth. 15 Source: Eurostat; calculated as the ratio of utilized agricultural area (UAA) to total area, 2009.16 Turnock, D. 2001.
Economic activity (Participation) and Unemployment by Level of Educational Attainment-West Region (2009) Source: Calculations based on data from INS:
suggesting that economic growth is likely to be balanced more, i e. evenly spread among different parts of the economy.
Figure 12: Sector Distribution of Gazelles in the West Region (2010) Source: World bank staff calculation based on SBS data 42.
World bank staff calculation based on SBS data III. 2. Main challenges Fruits of economic growth were distributed not evenly across the region 45.
The fruits of economic growth and convergence with Europe were distributed not evenly across the region. Already substantial inequalities in economic and social outcomes were exacerbated sharply over the past decade.
Income disparities are linked to the concentration of population and economic activity in the main urban areas. While the cities of Arad (and its eastern and western fringes) and Timi oara concentrate the region's population,
and Vulcan account for relatively less economic activity than their population would suggest. Overall, value added per capita in the urban localities of the West Region stood in 2010 almost 2. 4 times greater than that in rural localities. 47.
Calculations based on customs data from Institute of National Statistics As a result of the spatial effect of the transition of the economy and conditioned in part by geography,
As part of a post socialist country, the West region economy was dominated by large state industries up until the early 1990s.
These geographical endowments and development patterns still play a significant role in shaping the economies of the counties today
Institute of National Statistics Economic activity is concentrated increasingly by sector, firm size and firm ownership 56.
Economic activity in the West Region is concentrated in a handful of sectors that represent about half of the region's turnover and employment25.
and 55%of employment in 2010 and the concentration of the West Region economic activity around them has increased between 2008 and 2010.26 25 Sectors are defined as 2-digit groups according to the NACE Rev 2 classification. 26 Drawing on the World bank
but has played an important role in integrating the West Region ever more tightly into the European economy. 66.
it is less likely the business will be embedded fully in the local economy, particularly if it is owned foreign.
This comes from the spillover of knowledge and technology into the regional economy. As foreign firms are almost inevitably more productive
including scale economies, the difficulty for small local suppliers to meet international quality standards, and the fact that many purchasing decisions at the foreign-owned firms are taken not in the West Region plant but at the corporate headquarters. 47 IV.
but because of their relevance and potential in the West Region's economy; they are: automotive, textiles, agro-food, ICT, construction,
and on facilitating the development of new economic activities through measures which support entrepreneurship and experimentation,
since the role of a smart specialization strategy is to promote the role of the knowledge factor in economic growth,
but not to focus on specific economic activities. 81. Each cluster has its own constraints and specificities that will shape the future development of specialization niches.
The rates of activity for the construction sector have decreased steadily since 2008 as a result of the economic crisis.
IV. 2. Horizontal policy areas that impact West Region economy 88. The identification of the main horizontal policy areas results from the combination of a consultative process with private sector representatives-drawing primarily on interviews with sample firms in the target sectors
As a consequence, this section highlights the perception of the private sector on the main bottlenecks for economic growth.
and skills that are likely to be the cornerstones of the region's future economy. 91.
A concern highlighted in interviews with R&d stakeholders as well as with the private sector, was the lack of entrepreneurial and business management know-how.
The Regional Development Agency emerges as the key institution with the capacity to connect national and local stakeholders
Development and Innovation. 41 The Government Decision 185/2013 does not mention how these structures can cooperate with the Ministry of Economy,
stakeholders in the region do not have much experience with licensing and not sufficiently aware of the potential gains from such activities.
This new administrative body would include all the key stakeholders in the region would hold quarterly meetings and design common projects, bringing on board the national R&d structures and policy makers.
Moreover, the goal of a smart specialization strategy is to expand the role of knowledge and innovation in economic growth,
These incentives can take the form of shareholding, or the right to subsequently participate in the ownership and management of intellectual property.
A tourism cluster can support cooperation between tourist stakeholders and between the tourism sector and different innovation actors.
strengths and opportunities for the region Weaknesses Strengths Potential Solutions General Fruits of economic growth not distributed evenly across the region (income,
such as technical and education Economic activity is concentrated increasingly by sector, firm size and firm ownership Export performance is concentrated very in EU markets
Given that textiles industry is structured typically as a buyer driven commodity chain, the need to upgrading for West Romanian firms in the sector will not be fulfilled easily as it requires following very well established patterns. export in the region.
economy-wide areas of intervention that should be considered as part of the national strategies and national sectoral operational strategy. 138.
the RDAS fulfill the role a mobilization and mediation actor among different stakeholders in the region.
and promote (acting in partnership with other stakeholders) projects of regional and intraregional interest, and develop relationships with international bodies for promoting the regional interest. 48 For the programming period 2007-2013,
i) Promote the transfer of knowledge and innovation in regional economy; and (ii) Improve access of enterprises to support services and foster enterprise development. 164.
The most relevant sectors in the West Region economy are automotive ICT, textile, agro-food,
This type of instrument can increase the availability of financing through a multiplying effect at the level of the regional economy. 172.
and give them a real economic value by integrating them into attractive tourism circuits. The local administration can identify
The analysis of the regional level economy revealed a mismatch between the available skills and the needs of the labor market in the West Region.
as well as the degree of dependence of the rural economy on increased connectivity to larger urban centers.
and innovation in regional economy Improving access to support services for SMES, to foster their development National, local and EU funds, West Regional OP TO3.
These objectives aim to tackle both the structural weaknesses in Europe's economy exposed by the crisis,
Due in part to these advantages, the region has experienced rapid economic growth which has delivered rising real wages,
Third, economic activity in the region is concentrated in a handful of sectors that represent about half of the region's turnover and employment
and promotes a larger contribution of the knowledge factor to economic growth. 194. The identification of the region's comparative advantage assumes a key role in the design of a strategy for smart specialization.
but because of their relevance and potential in the West Region's economy. This assessment has revealed, based on available information,
The region has a dynamic economy, and stands out among the other regions of Romania as result of a high level of economic development, solid export growth rate, relatively skilled human resources, a large diversity of natural resources,
High-tech Gründerfonds is funded through a PPP between the German federal government (Federal Ministry of Economics and Technology), the Kfw and German industry (ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color
Pilot initiative on development solutions for the mining areas Regional stakeholders and policy makers could launch a pilot initiative to support the economic development of the mining and industrial regions.
The detailed analysis performed at the level of the West Regions revealed some territorial characteristics either of concentration of economic activity, as it is Timisoara-Arad conurbation,
by identifying and setting up some actors essential for the facilitating the activity aiming a large number of stakeholders,
in order to facilitate commuting towards the areas with higher concentration of economic activities. Integrated Territorial Investment Jiu Valley.
In order to exploit their potential with a view of promoting economic growth in the region, the following priorities can be identified in a common development strategy at the level of the two counties:
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