Companies become key actors of innovation The RDI sector is an arena of opportunity Regional leadership at the frontier of science through breakthroughs in strategic fields Regional level not a distinct level (Romania does not have either proper legal regions,
3) Low technology transfer rates and a weak culture of entrepreneurship Main opportunities for future regional development:(
and of several elite National institutes given the opportunities in the automotive industry, textiles, and KET development (subject to further debate).
In this context, the managerial implications for SMES regarding R&d and innovation could be summarized in the following five categories that contain both opportunities and challenges:
regardless of our ideological choices, there is an objective medium and long term opportunity of funding R&d and innovation with the support of public resources.
47 IV. 1. Key challenges and opportunities for target sectors...47 IV. 2. Horizontal policy areas that impact West Region economy...
Specialization opportunities by cluster...48 Table 16-Overview of weaknesses, strengths and opportunities for the region...
62 Table 17-Priority axes and thematic objectives: an application for the West region...72 Table 18:
while reducing regional disparities in income, wealth and opportunities. To achieve the Europe 2020 objectives of smart, sustainable and inclusive growth,
and Opportunities 6. Smart Specialization Sector Case studies. 7. Final Report: Policy Recommendations III. Growth in the West Region has been driven strong
Diagnostics, Challenges, and Opportunities; and vi) Smart Specialization Case studies Report 5. The first five reports drew on complementary methodological approaches and intended to perform a complete competitiveness mapping of goods and services producers in the West region.
as well as the opportunities arising at the level of business and research and technological development infrastructure (RTDI) co-operation,
as a way to detect the growth opportunities that lie 2 According to European commission, smart specialization means identifying the unique characteristics and assets of each country and region, highlighting each region's competitive advantages,
The strategy should be built on analysis of all the assets in a region, innovation strengths and weaknesses and emerging opportunities and market developments,
and to exploit opportunities for joint programming, transnational cooperation and joint leverage of EU instruments. 13.
and have pointed specific strengths and opportunities, as well as a number of challenges that need to be addressed as part of an effective development strategy for the region.
Diagnostics, Challenges and Opportunities this exercise is based on the final sample of the SBS survey data as after excluding for outliers in
Diagnostics, Challenges and Opportunities, the top ten sectors in the West Region listed on (Table 7) accounted for almost 54%of turnover
Diagnostics, Challenges and Opportunities these numbers are based on the final sample of the SBS survey data as after excluding for outliers.
Diagnostics, Challenges and Opportunities. 37 regional borders, they start small in size. Table 10 and Table 11 present descriptive statistics about plants owned by firms headquartered in the region.
Diagnostics, Challenges and Opportunities this exercise is based on the final sample of the SBS survey data as after excluding for outliers. 38 Export performance is concentrated also very
Foreign ownership in the region's key sectors brings with it both opportunities and risks.
and the opportunities they can offer may have negative implications for domestic firms. In particular, in the technical and managerial jobs, foreign firms are able to offer young Romanians the credentials of a foreign firm, the experience of learning in leading edge environment,
and the potential to gain employment experience and opportunities abroad. 73. It is worth stressing
IV. 1. Key challenges and opportunities for target sectors 75. The effectiveness of targeted innovation
Specifically, the identification of specialization opportunities draws on the Structural Business Survey data (for the 2008-2010 period) and follows a three step approach.
Specialization opportunities by cluster Cluster Opportunities Automotive Manufacture of Other Electronic and Electric Wires and Cables,
It is worth emphasizing that the identification of specialization opportunities for each cluster is limited to the level of sector/activities.
which the identification of specialization opportunities has not drew on data (NACE 4 digit) sector analysis. 49 80.
and other high skill activities in Timisoara-Arad and shift labor intensive production to other parts of the region) this obviously represents a huge opportunity to address both sides of the regional challenge.
The labs will also provide opportunities to conduct more frequent quality tests which will increase reliability of local producers. 118.
strengths and opportunities for the region Weaknesses Strengths Potential Solutions General Fruits of economic growth not distributed evenly across the region (income,
weak links across firms and to local suppliers Lack of cooperation between R&d institutions Limited information regarding the research sector, business and market opportunities, business support, national and local investment projects,
which can easily generate new business opportunities. The geographic location of the region gives it a clear advantage relative to the rest of Romania as well as to many other global competitors through its close proximity to the European market. machinery as a way to support the development of new design
agriculture, and veterinary sciences are areas of strength of the West Region universities Unexploited export opportunities with Serbia.
and the need to enhance competitiveness advantage of opportunities for trade with Serbia, especially in
in order to help identify funding opportunities and to offer guidance to key initiatives in the region.
identifying potential innovation opportunities in terms of products or processes in a variety of industries; facilitating the entry of new products on the market;
new marketing and networking opportunities, the development of short supply chains, and the setting up of producer groups;
As one of the main problems for investments at SMES level represents the lack of adequate financing opportunities, the introduction of a regional development fund,
new marketing and networking opportunities, the development of short supply chains and the setting up of producer groups;
while reducing regional disparities in terms of income, wealth and opportunities. 191. In this context, although the Western part of Romania has a per capita GDP that is higher than the national average,
In the 2014-2020 period, the West Region has the opportunity period to use its specific human, natural,
Events constitute opportunities to discover the traditional heritage of the city presented in a different manner.
The labs would also provide opportunities to conduct frequent quality tests thereby increasing the reliability of local producers. 7. Laboratory
protection and appropriate use of the tourism opportunities of the region. 13. Geo therapy center This type of initiative would aim to build
without other job opportunities and low level of attractiveness for investments bearing a permanent declining since 1990.
only if it is interpreted as a set of technological opportunities that allow rapid transmission of a huge volume of data,
Creation of new opportunities on labour market (example, work at home; A more efficient management of enterprises, especially of small and medium sized enterprises,
New opportunities for entertainment or cultural life; Improvement of population's life quality in rural and disadvantaged areas by supporting development of tourism;
and e-Coaching. 8 At the same time new opportunities arise for the knowledge level of universities by the possibility to develop
and practices, creating new business opportunities and helping companies to get high productivity based on an improvement of access to information and transactions.
and scattering of public resources Opportunities The advantage of late development: the domination period of narrowband connections can be reduced significantly;
and opportunities for developing these services, in cases of a lack of intervention measures adapted to Romania's existing problems,
In addition there is no overview on all initiatives the result being a lack of transparency on opportunities they offer both from the potential beneficiaries'perspective and even of the authorities'perspective.
-to establish of opportunities and needs for legislative and regulatory initiatives necessary for a good progress of the transition process;
the Working group shall keep in mind the opportunities that may occur on medium term: The possibility to include broadband services in the universal service field.
The opportunity to conclude public private partnerships with actors of the market interested in participating at co-financing projects for implementation of broadband services and networks,
and societies and improve living conditions and opportunities around the world. ICT performance will remain crucial
and opportunity, providing the means for enhancing democratic principles and responding to certain shortcomings and deficits of democratic systems.
facilitating access to local players of all opportunities available in EU Introduction of detailed statistics available to all users,
In principle, this opens The EU Smart Grids Debate 9 opportunities for new and new kinds of actors at all levels of the system.
Implementing these new concepts in reality is expected to create huge business opportunities. Market reports forecast hundreds of billions of turnover.
and opportunities and to secure themselves an important role in the emerging new configuration. However, because of the growing complexity of the issue, the high innovation speed of new energy technologies and the large numbers of new entrants in the debate, positions, strategies and possible conflict lines among different
This is a huge growth opportunity for the corresponding industries offering hardware, software, data handling and communication.
Different smart grid strategies open different opportunities for the various subsectors of the wide range of ICT industries. 47 http://www. tdeurope. eu, position paper on infrastructure
since weak grids may even open opportunities for leapfrogging heavy wiring efforts by expanding capacities with smart approaches,
http://www. greentechmedia. com/articles/read/enter--the--dragon--china--and--the--worlds--greatest--smart--grid--opportunity The EU Smart Grids Debate 29 at the EU level.
For example the standardisation procedures offer public consultation opportunities. Wrongly smart grids are seen as a mainly technical issue. 84 Smart grids are given not a technology that may have impacts that can be analysed.
Rather, there is a set of available new technologies that open a wide range of opportunities for transforming the old unsustainable energy supply system into a new more sustainable socio--technical system involving much more actors.
For making best use of these opportunities for society we need a broader debate. This requires efforts:
Although the process of definition has been a good opportunity to rethink and improve the policymaking,
and generators of new market opportunities in a global context versus the prioritizing that other territories carry out (Del Castillo et al. 2012).
The search for opportunities through the exploitation of the territorial related variety, maximizing its externalities
and prioritize these opportunity niches of specialised diversification, but also in terms of how to design and implement the SYMPHONYA Emerging Issues in Management, n. 1,
However, Paton and Barroeta (2012) mention a number of them making clear that besides the many opportunities behind smart specialisation,
Opportunities and risks regarding main elements of smart specialization ELEMENTS OPPORTUNITIES RISKS Prioritization Election of priorities through specialisation patterns To prioritize can help creating critical mass to achieve excellence.
Prioritizing the demands of the businesses facilitates the alignment of the regional capabilities with the market opportunities.
As mentioned in the research questions section, these opportunities and risks, as well as the real difficulties and problems encountered by policymakers
Despite the great opportunity that supposes the smart specialization model and its strategic reflection, a series of limits were exposed in the paper.
but a process by which new territorial opportunities are discovered, fostered and supported. Bibliography Bellini, N. Teräs, J. and Ylinenpäá, H. 2012) Science and Technology Park in the Age of Open Innovation.
+i in Aragon through support schemes to researchers in particular. http://www. araid. es/The Red Aragón 7pm acts as a network aiming at getting the best out of the 7pm opportunities until 2013 thanks to a strong cooperation
however well aware of its strengths and weaknesses and intends to get the best out of the coming opportunity of a regional innovation strategy.
Ageing Depopulation Territorial Development Health STRENGTHS AND OPPORTUNITIES: Health & Biotecnology Tourism & Trade Culture & Heritage Territory & Quality of life Agrifood CHALLENGES:
Smart Transport Opening the Territory Connectivity Cross-border Cooperation STRENGTHS AND OPPORTUNITIES: Logistics & Transport Automotive New Materials Industry & SME Excellence CHALLENGES:
Energy Climate Change Desertification Food security STRENGTHS AND OPPORTUNITIES: Water Energy Hydrógen Energy efficiency SMART SPECIALIZATION PRIORITIES IN ARAGÓN TERRITORIAL BALANCE CONNECTIVITY RESOURCE EFFICIENCY CHALLENGES:
Ageing Depopulation Territorial Development Health STRENGTHS AND OPPORTUNITIES: Health & Biotecnology Tourism & Trade Culture & Heritage Territory & Quality of life Agrifood CHALLENGES:
Smart Transport Opening the Territory Connectivity Cross-border Cooperation STRENGTHS AND OPPORTUNITIES: Logistics & Transport Automotive New Materials Industry & SME Excellence CHALLENGES:
Energy Climate Change Desertification Food security STRENGTHS AND OPPORTUNITIES: Water Energy Hydrógen Energy efficiency SMART SPECIALIZATION PRIORITIES IN ARAGÓN TERRITORIAL BALANCE CONNECTIVITY RESOURCE EFFICIENCY Education and Training KETS (Key Enabling Technologies) ICT
and the opportunity opened by RIS3. A brief introduction to the Asturias economic estructure (Source:
RIS3 in this sense can be a great opportunity. To conclude this brief introduction to the Asturian economy,
In Asturias there are a total of 12 sectorial clusters that will have the opportunity to participate in the different panels depending on their specialization.
RIS3 Strategy can be a great opportunity. k) Try to stimulate private R&d&i investments, for instance through public-private partnerships.
The results of these first phases have been a SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats) for the R&d and Information Society situation in Castilla y León that has been the basis for establishing RIS3 programmes and objectives,
CONTEXT ANALYSIS CA 013 The analysis of Strengths, Weaknesses, Opportunities, and Threats (SWOT) compiles and integrates quantitative and qualitative analytical conclusions in the Strategy's creation framework.
OPPORTUNITIES The region's economic specialisation and existing capacities allow for leading future trends to be made use of in the fields of health care, quality of life, environment,
OPPORTUNITIES Territory Importance of ICT in the objectives and priorities of the new European funding framework ICT,
Industry-wide technologies and opportunities, some of which are already in effect. Others, although they do not form part of the Castilla y León specialisation pattern,
The RIS3 is the opportunity to significantly improve the R&d&i and Information Society regional policy of Castilla y León
(I) SWOT Analysis R&d&i 12 Opportunities Exploitation of trends of future in some areas, such as agro food, health and quality of life and energy and environment.
Building the evidence base for RIS3 (II) SWOT Analysis Knowledge Digital Society 16 Opportunities Importance of ICT in the new framework of European funding.
but argues with Henry Jenkins (2007: 258), that simply pointing out opportunities, as much of the policy literature on both S3 and SI does,
In theory, market extension opportunities are oriented open to‘market'social enterprises as they are to other SMES,
but also places an emphasis on the opportunities associated with such challenges (BEPA, 2011; CEC, 2010b.
There are business opportunities and synergies to be exploited by better integrating social challenges at the core of innovation activities.
and create market opportunities. As it is drawn here, the figure suggests a technology-based approach to the societal challenges.
In line with other societal challenges, the issue of demographic change and ageing is portrayed increasingly both as a threat and an opportunity.
Economic opportunities emerge in a number of ways. Examples include: Expanding and improving the labour pool:
This presents market opportunities for new products. For example, global spending on drugs is expected soon to exceed $1tn (FT,
Focusing on the market opportunities, Figure 4. 3 imagines an‘elderly'cluster and the range of goods and services which could be required to service this market.
Market opportunities for a regional response strategy(‘Elderly Cluster')Source: EURADA (2011: 34) Figure 4. 4 provides a hypothetical illustration as to how a societal challenge approach could be incorporated in the RIS3 process.
Either way, the social enterprise sector will be faced with a new combination of opportunities (for economic growth)
Blueprint of social innovation metrics contributions to an understanding of opportunities and challenges of social innovation measurement.
, M. 2012) Golden Opportunities: Social Entrepreneurs in an Ageing Society Research Unlimited. Available at: http://unltd. org. uk/.Last accessed 18.12.13 Sutcliffe, H. nd) A report on Responsible Research and Innovation Available at:
However, globalisation has created also new opportunities for domestic knowledge to be exploited overseas and for tapping into knowledge generated abroad, raising a new challenge:
younger, better-educated workers in highly-skilled occupations such as managers, professionals and technicians have greater access to training opportunities than less educated routine
collaborative research opportunities, services for knowledge transfer (e g. innovation brokers, labour mobility schemes, programmes for the commercialisation of university research),
and intelligence functions aimed at anticipating future needs and opportunities and acting on them through the partnership.
Provide training opportunities to social entrepreneurs and include social entrepreneurship in school and university curricula.
In the short to medium term there is a real opportunity for governments to use policies for entrepreneurship
innovation and social policy who could better realise their goals by adopting strategies that are more aware of and sensitive to the needs and opportunities of SMES and entrepreneurship.
and exploit the commercial opportunities emerging from technological, competitive and market changes. Furthermore, economies of scale in research and development are no longer the barriers they once were to small firm participation in innovation.
But there are also some differences in opportunities and constraints. Social enterprises may have greater problems accessing capital markets, for example,
The entrepreneur as an opportunity identifier. Kirzner (1973,1997) stressed the role of entrepreneurs as discoverers and early exploiters of previously-unnoticed profit opportunities.
They gain temporary monopolies until the attention that they draw to the opportunity leads to competitor entry,
which eliminates the profit. Innovation occurs as entrepreneurs discover new opportunities. But as opposed to Schumpeter's view of the entrepreneur as a disruptor of markets and instigator of evolutionary economic development
this is a static view: the entrepreneur facilitates matching of supply and demand and the achievement of equilibrium following shocks.
Here the entrepreneur is seen as facilitating economic adjustment by predicting where new profit opportunities will open up
discovering opportunities, taking risks, shifting resources and creating breakthrough innovations and these roles moreover are not mutually exclusive.
This illustrates a timely opportunity for well-designed policies to achieve two objectives at the same time: the creation of jobs in SMES in response to an aggregate demand stimulus or targeted employment
This includes small business management skills (such as business planning and accounting), strategic skills (such as decision-making and opportunity recognition),
and improve their market opportunities. Enterprise Connect Launched in May 2008, Enterprise Connect is an Australian government initiative.
These reviews identify strengths and opportunities for the firm, benchmark against best practices, and furnish access to world-class business tools, processes and technology.
high-opportunity technological companies implementing promising research results in an entrepreneurial manner. In an initial step, successful applicants receive up to EUR 500 000 in risk capital and management coaching.
CSETS grants can total EUR 25 million over five years per project to exploit opportunities for discovery
and exploiting business opportunities based on scientific and/or technological developments. This initiative supports the stages of the innovation process of firms
opportunities and potential projects; it then assists with implementation. Each company follows its own plan to implement best practice design and innovation,
which entrepreneurial opportunities either do not exist or are distributed randomly across the population (Shane and Venkataraman, 2000).
If so, opportunities will have the same value for everyone and the answer to who will become entrepreneurs will ultimately depend on external factors or inherent personal characteristics.
ENTREPRENEURSHIP AND INNOVATION OECD 2010 133 economic agents give to opportunities must necessarily be different.
Were everyone to assign the same value to an entrepreneurial opportunity, any and all would try to harness it,
that different beliefs about existing opportunities underpin the very entrepreneurial process. What make entrepreneurial opportunities different across the population are different degrees of knowledge
which is where the third strand comes in. The information that individuals dispose of will vary with regard to market inefficiencies, new technologies or new combinations of existing resources, each
of which is a source of entrepreneurial opportunity (Drucker, 1985). Entrepreneurship can therefore be regarded as a process that finds new relationships between inputs and outputs by dealing with missing or incomplete information.
when new opportunities caused by inefficiencies or the emergence of new technologies matches the prior knowledge of individuals,
9. Provision of technology-oriented consultancy services (e g. technology transfer, university-based technology centres assessing commercialisation opportunities, etc..
Another, more questionable argument is that European universities are more reluctant to apply for patents for which they do not perceive a concrete licensing opportunity.
Globalisation has underpinned the contribution of global knowledge flows to national and local competitiveness by creating new opportunities for knowledge generated abroad to be exploited locally
This poses a challenge to the fairness of a system in which large companies disproportionally benefit from publicly funded research and in which start-up opportunities are diminished accordingly (Kneller, 2007.
creation of new opportunities for PROS; fostered R&d culture among firms. Figure 3. 7. Figure 3. 8. Source:
Small firms may not be aware of overseas opportunities or may be too inward-looking to look for knowledge sources abroad.
First of all, economic opportunities are clearly important. However, these often do not correspond to a single good job offer,
if proper career advancement opportunities are given. Policy can best influence such opportunities by building up strong innovative and highly productive sectors and clusters and by supporting local skills
knowledge institutions, specialist finance, and knowledge networks. Secondly, people climate has received increasing attention as an element of the attractiveness of a place.
proactive orientation to change and innovation, foresight ability with regard to new market opportunities, etc. Schemes that target these skills can go a long way toward both enhancing business survival and nurturing the emergence of high-growth SMES.
and so be given the opportunity to unfold their third mission to contribute to the development of their region (OECD, 2007c;
including no-cost business reviews for the identification of market opportunities and access to world-class technologies, job placement of researchers within SMES,
Considering that every technology implies several possible entrepreneurial opportunities often in more than one industry, policies should target broader technologies with potential multiple industrial applications rather than more narrowly defined sectors.
So a process of transforming opportunities into value is at the heart of entrepreneurship and applies to all of new firm founders, small business managers and SME workforces supporting introduction of innovations.
They are tuned in to recognise available opportunities that can be significant for their personal, professional and/or business activities.
and opportunities that arise at various stages of business development. Programmes should not be overloaded with information that will not be used in practice such as regulatory environments, industry trends, balance sheet and ratio analysis
to look for opportunities to make things happen, to have the self-confidence to achieve their goals,
younger, better educated workers in high-skilled occupations (such as managers, professionals and technicians) have greater access to training opportunities than less-educated older workers
This provides an opportunity for employees to learn from others in different companies. In addition to enhancing SMES'efficiency, innovative potential and growth prospects,
However, when opportunities are created, routine workers can also make an important contribution to transforming SME activities to a context of increased knowledge intensity and innovation activity.
One of the reasons is the opportunity that on-the-job training gave to novice entrepreneurs to discuss work problems and test out solutions with real entrepreneurs and experts.
p. 6). Evaluations of these measures indicate that networking opportunities, combined with dedicated one-to-one attention
sharing of experiences that provide an opportunity to achieve business insights by learning from others in similar positions;
Teach the skills required for growth including opportunity identification, risk taking, strategy making, leadership, negotiation, networking, building strategic alliances,
Provide students with opportunities to work in existing SMES and to add value to these firms through Box 4. 4. Formaper Formaper,
p. 1). If economic globalisation offers opportunities to improve living conditions, it also implies substantial and continuous restructuring
it could also be seen as a unique opportunity for researchers from different fields and disciplines, such as entrepreneurship, sociology and organisational theory,
therefore, about solving social problems rather than exploiting market opportunities. Social currency is the motivation of social entrepreneurs who all have one thing in common:
ENTREPRENEURSHIP AND INNOVATION OECD 2010 189 to pursue opportunities to catalyze social change (Mair and Ganly, 2010).
Social change (whether radical or limited), not the exploitation of a market opportunity to increase personal wealth, is the explicit goal of social entrepreneurs and their business mission.
One that can readily be seen is the capacity-building opportunities offered to healthcare workers and scientists,
One World Health also creates interesting opportunities for industry government and academia, and developing world partners.
One World Health's nonprofit model benefits industry by offering dual market opportunities through its role as global development partner and by taking responsibility for markets in developing countries.
For those seeking further help in finding education and learning opportunities locally and help with career planning and job applications, the project offers information, advice,
including education, healthcare and economic opportunity. It will partner with foundations, philanthropists and corporations that commit matching resources, funding and technical assistance.
Provide training opportunities to social entrepreneurs and include social entrepreneurship in school and university curricula Social entrepreneurs might need special training to help them hone
this social enterprise was created to offer young people opportunities for civic service in order not only to increase their skills
opportunities for disrupting the equilibrium; and organisations which seek to bring about change (Light, 2008, p. 17.
3) opportunities for grand changes come in waves; 4) socially entrepreneurial organisations are built to make changes. 4. Neck et al.
Regardless of profit orientation, social entrepreneurs identify opportunities to solve social problems: both people and planet problems (p. 18). 5. Brouard and Larivet (2009) analyse most of the existing definitions of social entrepreneurship
Tracking the Intersects and Opportunities of Economic, Social and Environmental Value Creation, full paper available at www. blendedvalue. org.
'p. 69) Mair and Noboa 2003 SE Social entrepreneurship is seen as the innovative use of resource combinations to pursue opportunities aiming at the creation of organisations
the ability to recognise social value-creating opportunities and key decision-making characteristics of innovativeness, proactiveness and risk-taking.
and exploit opportunities that meet a social need in a sustainable manner. p. 3) Haugh 2005 Social entrepreneurship is the process of creating social enterprise.
evaluation and pursuit of opportunities for transformative social change carried out by visionary, passionately dedicated individuals.
and exploit opportunities to create social value by stimulating social change or meeting social needs.
p. 37) Nicholls 2006 Innovative and effective activities that focus strategically on resolving social market failures and creating new opportunities to add social value systematically by using a range of resources
and take advantage of opportunities to create that value(‘envision');'3) employ (s) innovation, ranging from outright invention to adapting someone else's novelty,
p. 32) Zhara, Gedajlovic, Neubaum and Shulman 2006 Social entrepreneurship concerns the processes related to the discovery of opportunities to create social wealth
2) identifying an opportunity in this unjust equilibrium, developing a social value proposition, and bringing to bear inspiration, creativity, direct action, courage,
define and exploit opportunities in order to enhance social wealth by creating new ventures or managing existing organisations in an innovative manner.
to benefit from an opportunity to modify social relationships, to transform established patterns of behaviour,
or changing organisational structures to grasp new opportunities to add social value. New programmes, models,
Provide training opportunities to social entrepreneurs and include social entrepreneurship in school and university curricula.
They include small business management skills (such as business planning and accounting), strategic skills (such as decision-making and opportunity recognition) and entrepreneurial traits (such as leadership and creativity.
People climate Societal factors other than mere economic opportunities able to influence the decision of skilled workers about where to live and work.
therefore about solving social problems rather than exploiting market opportunities in order to maximise profits. Social innovation A type of innovation that answers to social problems by identifying
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