opportunities and threats of the Catalan economy taking into account the different sectors and technological capabilities.
strengths, weaknesses, opportunities and threats. -Analysis of the leading sectors and capacities in crosscutting enabling technologies.
food security, sustainable agriculture, forestry, marine and maritime research and the bioeconomy; secure, clean and efficient energy;
and risk prevention and management 6. To protect the environment and promote resource efficiency 8. To promote employment
opportunities and threats to the Catalan economy based on SWOT analyses carried out previously in Catalonia and on
opportunities and threats (see the document Analysis of the Catalan economy: strengths, weaknesses, opportunities and threats), the Catalan economy is diversified highly
and open with a large industrial base. Within a context of globalisation and recession, the Catalan production system is undergoing a process of structural change:
because they share risks and can undertake larger projects than a company would be willing to embark on alone,
Public administrations provide economic support, under the principle of shared risk, to actions aimed at increasing the market value of technologies identified as marketable.
It is vital to provide the greatest possible incentives for investment in new companies through financial instruments that reduce the risk to
However, due to the inherent risks (technological, operational and market) that they face, it is difficult for them to gain access to traditional sources of finance and capital funds.
opportunities and threats of the Catalan economy taking into account the different sectors and technological capabilities.
strengths, weaknesses, opportunities and threats. -Analysis of the leading sectors and capacities in crosscutting enabling technologies.
food security, sustainable agriculture, forestry, marine and maritime research and the bioeconomy; secure, clean and efficient energy;
and risk prevention and management 6. To protect the environment and promote resource efficiency 8. To promote employment
opportunities and threats to the Catalan economy based on SWOT analyses carried out previously in Catalonia and on
opportunities and threats (see the document Analysis of the Catalan economy: strengths, weaknesses, opportunities and threats), the Catalan economy is diversified highly
and open with a large industrial base. Within a context of globalisation and recession, the Catalan production system is undergoing a process of structural change:
because they share risks and can undertake larger projects than a company would be willing to embark on alone,
Public administrations provide economic support, under the principle of shared risk, to actions aimed at increasing the market value of technologies identified as marketable.
It is vital to provide the greatest possible incentives for investment in new companies through financial instruments that reduce the risk to
However, due to the inherent risks (technological, operational and market) that they face, it is difficult for them to gain access to traditional sources of finance and capital funds.
,,national security, data protection) prevents this. The general principle for developing research infrastructures is that the research infrastructures that have a substantial chance for establishing connections with respect to their disciplines should get the support needed for access by developments and renewals, in the interest of striving for international excellence.
and risk assessment adapted to the region of the Carpathian Basin. The participation in LIFEWATCH enables us to gain a respectable international position in the first phase of the development.
Creative and Cultural Enterprise ICT including next generation internet and computing, information security, software, gaming, social networking, digital media, digital content, e-learning;
Priority Areas for Publicly-performed Research 2013-17 A Future Networks & Communications H Food for Health B Data Analytics, Management, Security & Privacy I Sustainable Food Production
Creative and Cultural Enterprise ICT including next generation internet and computing, information security, software, gaming, social networking, digital media, digital content, e-learning;
Priority Areas for Publicly-performed Research 2013-17 A Future Networks & Communications H Food for Health B Data Analytics, Management, Security & Privacy I Sustainable Food Production
Why we in the Canary islands miss opportunities to exploit, for a knowledge-based economy, the availability of good ideas and innovations?
and offer more incentives for risk taking. Entrepreneurial knowledge involves much more than science and technology.
a regional development strategy may risk increasing vulnerability to changing economic conditions. Therefore it is crucial that the second principle of'relatedness'is taken also into consideration.
New materials, Production and automation technology, Cleantech, and Security. These fields present the regional strength in regional publicly funded R&d and industrial activity.
run the risk of autarky, and take a narrow view on the role of policy in the exercise.
stimulation of entrepreneurship/management of risk and uncertainty; market formation; mobilisation of resources; and legitimation.
the design of the RIS3 architecture needs to anticipate the risk of capture and make it more difficult for traditional groups to frustrate the process.
and risks associated with entrepreneurial search are shared and therefore do not become too prohibitive for the firm that is leading the search process.
Prioritisation always entails risks for those who have to select those few domains that, as a result, will get privileged access to public funding.
Such an open, participatory process, together with reliance on robust evidence based on regional assets, are the best guarantees to avoid both the risk of capture by interest groups
and the risk of lock in into traditional activities. Once the priorities are adopted it is important that the strategy is validated
Strategies that stop before this step run the risk of remaining unimplemented and/or not credible.
OECD 2011 58 Developing a RIS3 involves a degree of risk-taking, since there is always some uncertainty in the choice of priorities,
Test new or unconventional policy support approaches on a small scale before possible extension, limiting risk.
uncovering specific risk factors, 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.
This implies, for instance, verifying that the vulnerability and capacity of adaptation of the regional innovation system have been
services, online safety and security, intelligent energy networks and smart energy services. To best harness EU funding from these various financial instruments, one of the key challenges for management authorities is
cities, trust, security, etc; b) have a sectoral focus targeting ICT industrial and technological leadership in R&d&i fields such as Key Enabling Technologies (KETS),
Further exploit links between the CCIS and other important policy areas for cohesion and/or rural development policies, in particular urban and rural regeneration, territorial cooperation, cultural heritage and tourism;
EU level debt instruments (guarantees/risk sharing: CIP-SMEG, RSFF, LGTT Risk Sharing Finance Facility (RSFF.
The Risk-Sharing Finance Facility (RSFF) aims to improve access to debt financing for promoters of research
and innovation investments by sharing the underlying risks between the EU and the EIB. Together, the European commission and the EIB are providing up to EUR 2 billion (up to EUR 1 billion each) to support loans
or guarantees supporting the priorities of the Seventh Framework Programme for RTD (FP7). These contributions will translate into up to EUR 10 billion worth of additional financing available to innovative companies and the research community.
the Risk-Sharing Instrument (RSI), was launched at the end of 2011. It was operated by the EIF on behalf of the EIB
The Loan Guarantee Instrument for TEN-T projects partially covers this revenue risk and consequently improves the financial viability of such TEN-T projects. 117 Policy DG in charge:
in order to reduce their risk and increase their lending activities in favour of the sector. It amounts to EUR 8 million over the period 2010-2013.
1) a guarantee instrument to providers of micro-credit (i e. loans of up to EUR 25,000, in particular to vulnerable groups in risk of social exclusion, for the purpose of setting up small commercial operations;
The European Investment Fund provides financial intermediaries an integrated risk finance product range of SME finance initiatives,
Procurers tend to favour low cost, low risk, and off-the-shelf solutions once the (political) decision on what to buy and at
There are hardly any mechanisms to allow the pooling of risk and resources across countries and different administrations;
and by decreasing the potential innovation costs and financial risks through ERDF co-funding; The recognition of the procurement phase as strategic in public policy cycles, by associating procurement departments at an early stage in the definition of a project and of regional innovation strategies for smart growth;
There is a risk of it being hampered by insufficient knowledge, limited support of grass roots, social enterprise and social entrepreneurship activities
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
risk management and strategic planning with a view to obtaining a better access to the private capital markets,
and Emergency Hospital with RD activities. Vertical Priority 3 Textile&clothes Sector In this field 887 companies are operating
T. Popa and the Clinic County and Emergency Hospita Sf. Spiridon. According to the ARUP study
telecommunications and software, computer programming, mecatronics, security, e-health, ITC for transport, new media, irrespectively networks of the future, internet services, software and visualization, media network and 3d
networks, cybernetic security, safe software systems, mobile applications design, etc. Horizontal priorities The Northeast regional Smart Specialization Strategy is designed to operate at 4 levels:
Geophysics ICT Mathematics Materials (new) Veterinarian Environment Nanotech Naval Optics Patrimony Health Security Socioeconomic Space Textiles Agro-Food ICT Intelligent
sys. Health Energy Pharmaceuticals Environment Security Space Materials Biotechnologies Transport Socioeconomic 13 Panels 90 Micro-visions 29 domains+Exploratory Online
ICT Analysis, management and security of big data Future internet Software development technologies, instruments, and methods High performance computing and new computational models A3.
Health, Space and Security, and Heritage and cultural identity. Process: http://www. poscce. research. ro/ro/node/node/nid/2438 Project version Dec. 2013 Public debate (mandatory according to the law of transparency) version Apr
2014 Smart specialization fields Bioeconomy ICT Energy & Environment Eco-technologies Public interest priorities Health Security & Space National heritage & identity, cohesion and cross-cultural
linkages Smart specialization fields Bioeconomy ICT, Security & Space Energy, Environment & Climate changes Eco-nano-technologies & Advanced Materials Public interest priorities Health National
heritage & identity Emerging technologies RIS3 Priorities 16 ICT, Security & Space Focus on changes related to Smart Specialization so far Micro-vision fiches after refining (see the Annex for the full process:
Security; Intelligent Systems; Socioeconomics; Space medicine Science; Transport ICT Rationale: ICT prioritized for information security & space security because of new info regarding the sectoral strategies (not available at the time of the first version;
RO is external border of UE. Energy & Environment Energy, Environment & Climate change Rationale:
Romania participates in 6 JPIS (Healthy and Productive Seas and Oceans, Cultural Heritage, Agriculture, Food security and Climate Change, A Healthy Diet for a Healthy Life, Antimicrobial Resistance, Water
"In terms of technological capability Romania has the potential for regional clusters in ICT, nanosciences and nanotechnologies, automotive, security and new production technologies".
Security; Intelligent Systems; Socioeconomics; Space medicine Science; Transport)- Prioritization and version Dec. 2013. Public debate-National R&d institutes-Romanian Academy-Private companies-Changes as for version Apr. 2014.
and protection of the knowledge become predominant and decisive for long term profit gaining and sustainability assurance (Nicolescu, 2011).
and take calculated risks. 2. THEORETICAL FRAMEWORK The theoretical literature that deals with the issue of R&d
of population at risk of poverty or social excl. no. of persons) EU target 75 3 20 20 20 10 40 20,000, 000 RO target 70 2 19 24 19 11,3 26,7
Innovative public procurement means the public sector can take on the role and risks of a lead customer,
Foreign ownership in the region's key sectors brings with it both opportunities and risks.
The main risk is that foreign firms are likely to be‘footloose, 'that is they are more likely close plants
A second risk is owned that foreign firms‘crowd out'the local industry. This may happen by outcompeting local firms in their traditional domestic market,
there is always the risk of creating an additional level of bureaucracy, if these measures are linked not to a simplification of structures,
Measures under this investment priority should also promote food chain organization and risk management in agriculture by:(
and (ii) assisting farmers with risk management and financing investments in preventive and restoration actions. 170.
Threats Lack of applications and local content, but also an insufficient level of digital literacy and understanding of benefits;
the risk to deepen the digital gap becomes even bigger thus amplifying differences between Romania
providing relevant content and ensuring necessary preconditions for information, education and security. Starting from the fundamental pillars of the strategy we developed a set of indicators accompanied by the related target values,
education and security (preconditions-the degree of digital alphabetization of the population-%of employees with experience in using computers
-Tax 80 e-Culture 40 e-Tourism 40 e-Emergencies 60 e-Fraud 40 e-Associative 50 30 e-Participation
Generalized access to e-tools is a necessary condition of the success of e-democracy and the elimination of a risk of a technology gap.
and services (i e. secure Web services in EU) to enjoy high levels of security and confidence, a balanced regulatory framework with well defined rights,
and health through electronic public services D. International Context Improve information security Reassessment of host status for data Increased competitiveness
and supplementing Government Emergency Ordinance no. 34/2006 concerning the award of public procurement, the public works concession contracts and services concession contracts;
Draft Law on the approval of Government Emergency Ordinance nr. 109/2009 to amend Law 571/2003 on Fiscal Code,
Draft Law to approve Government Emergency Ordinance nr. 113/2009 Payment Services, Legislative proposal establishing a single framework of declarations regarding the nominal amounts due the employees and the general consolidated budget (single desk Law),
electronic terrorism, preventing and minimizing the effects of natural and technological disasters, nuclear complex simulation, making simulations of socioeconomic policies,
There is a strong risk that the definition of standards in technical committees may have far-reaching consequences for the overall future architecture of the electricity system without an adequate public debate.
growing energy demand, globalisation, increasing fossil fuel costs and a new awareness for the risks of nuclear power, the use of renewable energies has been supported by a growing range of stakeholders
highly flexible CHP plants) risk to be too low for coming needs. At the same time, smart technologies are used increasingly for ensuring the appropriate communication between the different actors
Close surveillance of frequency, voltage and reactive power in combination with new means to compensate variations (solid state power electronics) can considerably increase the capacity of existing dumb distribution grids.
These include (i) keeping operational security and quality of supply, (ii) enabling the new operations at the distribution level (including non--discriminatory and effective real-time grid capacity monitoring and management of injections/withdrawals),(iii) market based congestion management,(iv
http://www. dreamsworld. it/emanuele/2007--07--01/hacking--contatore--enel--come--aumentarne--la--potenza/;
A centralised approach would require much more efforts for data gathering, data handling, data security and discussions on data privacy.
The objective of this paper is to analyse these risks and assess the starting point of the implementation stage of the Regional Innovation Smart Specialisation Strategies (RIS3) for the case of Spanish regions.
there is also a significant number of risks to consider. Table 2: 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
There is no a clear economic justification of a wider selection of sectors beyond the risk aversion of authorities on the choosing process of priorities8.
The paper has analysed the state of the art in current Spanish RIS3 just to assess the scope of these potential threats within the real strategic definition exercises.
as well as the risk aversive preferences of regional authorities, guides a wider selection of specialisation choices.
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:
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
Innovative Society and Security IT Services The next steps We are moving forward in the process with the help of a consultant.
information and communication technologies, security, biotechnology and logistics. The industrial policy of the Regional Government has established four main priorities in the support of emerging clusters:
Renewable Energy Aerospace Chemical-Pharmaceutical Digital Spanish contents Seniors Sustainable infrastructures Mobility IT SECURITY Advanced Software engineering Advanced Production technology Agro-food
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,
and Threats (SWOT) compiles and integrates quantitative and qualitative analytical conclusions in the Strategy's creation framework.
THREATS Prolonged effects of the financial crisis and difficulty in entering financial markets. Limitations of companies to funding
Loss of support structure for R&d because of the financial crisis and risk of system failure due to budget reasons.
The region's ICT sector has specialisation capacities in the fields of mobility and security.
THREATS Territory Low profitability in the area for operators for telecommunication infrastructure in the rural environment.
such as mobile applications and technology, cyber security, Big data, Internet of the Future, Cloud computing, all of which are crosscutting technologies for any economic activity
(I) SWOT Analysis R&d&i 13 Threats Extension of effects of the crisis. Difaiculty of access to Kinancial markets.
ICT sector specialized in mobility and security. Building the evidence base for RIS3 (II) SWOT Analysis Knowledge Digital Society 15 Weaknesses Large region with difkicult orography:
Building the evidence base for RIS3 (II) SWOT Analysis Knowledge Digital Society 17 Threats Low prokitability for operators in rural areas;
linking innovation to strategy, visible leadership, incentives for innovation, appropriate risk management, training for staff, the creation of‘circuits for information'(information flows within and beyond the organisation),
bureaucratic cultures, risk aversion, heritage and legacy, inability to keep up with pace and scale of change,
citizen engagement can be a high-risk activity. There are complex issues related to ensuring that participation is inclusive,
and‘member'voice Decision making power is not based on capital ownership Accept significant levels of economic risk Participatory in nature,
and urgent, from ageing societies, climate change, to energy efficiency and security...but there is a clear lack of exploitation of innovative solutions to address these social challenges.
WP2 Embracing Social Innovation Page 31 Food security, sustainable agriculture, marine and maritime research, and the bioeconomy;
such as demographic change, resource efficiency, energy security and climate resilience (CEC, 2013, d) This EC perspective reflects
In line with other societal challenges, the issue of demographic change and ageing is portrayed increasingly both as a threat and an opportunity.
Similarly the Catalan Region and Barcelona City33 have applied social clauses in procurement for all its large contracts to integrate groups at risk of exclusion in the labour market.
Bruno et al, 2008: 6). Social learning can be stymied by risk averse organisational cultures, weak feedback mechanisms and conventions that extol process over outcomes,
because it was encouraged to be risk aware rather than risk averse when it designed its tenders
With respect to both domains of public services the developmental state and the welfare state we argued that the state needs to become more supportive of experimentation and less risk averse.
and threats (like becoming commissioned agents of the state and diluting their social mandate). Our second point concerned the shortcomings of the sector.
Henceincluding firms withatleastonepatentedinventionallowsareliableidentificationof the firms at risk ofengagingininventiontradingactivities. Companynamesidentified fromthepatentdatabasehavebeen matchedwithcompanynamesfromtheamadeusdatabase (Bureau vandijk; hencebothlistedandnon-listedcompanieswereincl-udedinoursample.
and placing incumbents under competitive threat. New spin-off ventures enable the commercialisation of knowledge that would
Yet many emerging and potential business creators are lacking entrepreneurship skills such as in risk assessment,
Whilst this favours the SME, large corporations are adapting to become important players within this type of business model rather than treating it solely as a threat.
Entrepreneurs take risks by offering new solutions in the market in the face of uncertainty about
processes and business models to fit at the risk of failure. The entrepreneur innovates by experimenting.
discovering opportunities, taking risks, shifting resources and creating breakthrough innovations and these roles moreover are not mutually exclusive.
since the mere competitive threat of new and small firms, or contestability of their markets, may force incumbents to upgrade.
Both public policy makers and firms and research organisations themselves have become increasingly interested to support such commercialisation, seeing spin-offs as one of the key ways to exploit untapped knowledge,
Knight, F. 1921), Risk, Uncertainty and Profit, Chicago University Press, Chicago. Jensen, M.,B. Johnson, E. Lorenz and B. Lundvall (2007), Forms of Knowledge and Modes of Innovation, Research Policy, Vol. 36, No. 5, pp. 680-693.
when information asymmetries and risk are very high, often preventing traditional bank financing and even access to private venture capital funds.
and share the risk of R&d and innovation investments with other local partners. 2. FRANCE SMES, ENTREPRENEURSHIP AND INNOVATION OECD 2010 63 France A. Structural indicators on enterprise population
whilst cushioning the financial risk for people willing to invest in technology-based start-ups. The Creation Support to New Innovative Enterprises programme for 2007-13 builds on this past experience
and the venture capital market by facilitating loans to risk-capital societies interested in sharing the risk with the firms.
perceived economic risk Cost of financial 2. UNITED STATES SMES, E 106 NTREPRENEURSHIP AND INNOVATION OECD 2010 United states Small Business Innovation Research (SBIR
in order to cope with risk management. Each funding operation is covered by the following guarantees against default: 20%personal liability of the partners of the company getting the loan;
To minimise and spread risk the new funds syndicated many of their investments to a far larger extent than funds would consider today.
In addition, Yozma offered the foreign investors in these small funds insurance of 80%of their risk as well as the option of buying out the government's share within five years.
identify criteria for risk sharing; support investments in R&d. New financial services for R&d; investments in technology-based start-ups;
and risks involved in the internationalisation process (OECD, 2008b). ) As a result, public policy has a key role to play,
and to ensure that the risks and costs of international networking are minimised for participating SMES through, for instance,
which often run the risk of being trapped in a oneway relationship with the parent company.
and risks and costs associated with international networking by setting up legal services or guarantee schemes,
computing, collaborating, dealing with risk and uncertainty or developing a new product or service (Tether et al.
such as risk assessment and warranting, strategic thinking, self-confidence, the ability to make the best of personal networks,
take imaginative and informed approaches to problem solving involving calculated risks. 3) Responsible citizens have knowledge and understanding of the nature of work and social and economic enterprise;
Careful analysis of the growing literature reveals a perceived risk that the term social entrepreneurship could become very inclusive and,
and manufacture and distribute medicines to populations at risk. One World Health also creates interesting opportunities for industry
they could have received the first emergency donations from around the world minutes after the quake struck.
the ability to recognise social value-creating opportunities and key decision-making characteristics of innovativeness, proactiveness and risk-taking.
4) is/are willing to accept an above-average degree of risk in creating and disseminating social value;
and this requires the display of innovativeness, proactiveness and risk management behaviour. This behaviour is constrained by the desire to achieve the social mission
some advanced skills on business management and human resources and some specific skills related to risk assessment and warranting,
and strengthening energy security. It requires further decoupling of environmental impacts from economic growth, and greening of consumption and production patterns,
and whose social vulnerability map includes situations of high deprivation for youth and adults. The Cafu Foundation has a Library, Playroom, Visual Arts Room and Workshop, Computer Rooms, Dental care Office, Cafeteria, Kitchen and Pantry,
act with potentially innovative proposals, even considering the risks of alienation and manipulation. When questioning how social innovation is produced,
people are insured for social risks mainly by the state and they have a certain security and knowledge of
what the future will Hold in turn in the neoliberal or Anglo-saxon model, the sense of social safety is limited,
dependency on the public purse also carries risks for the sustainability of the socially innovative sectors.
Banks, in turn, are unwilling to take on the risks and costs of making small, uncollateralized loans (Karani 2007.
Talk of finance takes us inevitably to the issue of risk and hence regulation and regulatory frameworks.
Potts 2009) and thus risk (e g. Gibbons and Littler 1979; Bhatta 2003. Dodgson et al. 2005), for example, have pointed out that there is a broad understanding in innovation research that the innovation process requires experimentation.
Innovators, public and private investors need to manage innovation risks. Risk management can be facilitated though innovation-friendly legal frameworks, shared ownership and alternative ways to finance start-ups.
Regulatory frameworks, the availability of different organizational forms and attitudes to risk and reward will all shape the opportunities for social innovation to take place.
The European Journal of Social science Research 445 dominated by approaches to risk management that privilege the tried
individuals'financial and personal capacity, their ability to access social capital and their willingness to take risks will influence opportunities for innovation.
reduce the risk of people falling into poverty and cut carbon emissions to 80%of 1990 levels.
reduce the risk of people falling into poverty and cut carbon emissions to 80%of 1990 levels (http://ec. europa. eu/europe2020/targets/eu-targets).
Revisiting the Issue of Risks in Innovation in the Public sector. The Innovation Journal: The Public sector Innovation Journal 8 (2). http://www. innovation. cc/scholarly-style/bhatta-risks. pdf. Borzaga, C,
. and R. Bodini. 2012. What to make of Social Innovation? Towards a Framework for Policy Development.
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