the economies of nations (Stanworth and Gray 1993, NUTEK 2004, Wolff and Pett 2006 They are a major source of job creation (Storey et al. 1987, Castrogiovanni 1996, Clark III
Due to the significance of SMES to local economies, it is necessary to study and evaluate their performance (Acs 1999.
creation of an entrepreneurial economy (Schumpeter 1934. Studies related to the 1 SMES are defined as firms with less than 250 employees (NUTEK 2004, p. 15
realities of the current, dispersed economy (Polenske 2002 In this thesis, I used the EU definition of SMES (NUTEK 2004) when I selected
It is important to discuss â€oesmallness†in the context of the new economy, since this
economy is influenced by the Information technology (IT) revolution. When assessing the current system, the numerical, clear-cut, artificial borders used in the past should be
institutions working with economic growth issues, such as Tillvã¤xtverket and Näringsdepartementet, as well as those working with innovation activities such as
In order to judge an economy, a firm performance model that considers the innovative input within SMES is required.
has given a central role to â€oeknowledge†in economic growth (Neale 1984. Empirical evidence shows that countries with higher R&d activities per employee have higher levels of
seller to influence the price of any given commodity. These conditions are unfeasible to satisfy for SMES.
performance is less than desirable is the fact that shareholders and managers have different objectives. Most financial theories hold that the objectives of the shareholders and the
managers of firms are identical, as shareholders and managers are identical economic agents Crotty 1990.
The assumption that managers and shareholders have identical objectives is certainly least true in the case of SMES.
There are four main differences between shareholder 24 and managerial objectives. Firstly, shareholders prefer a higher debt to equity ratio, while
managers try to reduce that ratio because higher debt decreases the worth of their financing
portfolios. Secondly, managers seek long term growth, manifested as an increase in firm size and higher capital-accumulations.
while shareholders advocate an avoidance of any risk. This is particularly problematic, because investments in innovation and
The shareholders tend to think mostly of selling the firm to get the best possible return on invested capital, especially upon the
In the process, shareholders tend to induce failure of the firm Crotty 1990. All the above issues indicate that the financial theory approach is not the most
and even through the economy of an entire region Etzkowitz and Klofsten 2005) or a country.
profitability, activity, liquidity, assets balance, and cash position Statistical techniques, such as principal component analysis, can be used to reduce that
•The models must account for the nature of the modern economy, as Information and Communication Technologies (ICTS) drive the organizations to adapt an open
The fourth challenge stems from the nature of the modern economy, and has to do with the kind of enterprise structure generated in company build up.
As the modern economy becomes increasingly diffused (Polenske 2002), the agility and flexibility of SMES gives them a competitive edge over larger firms
Innovation is regarded as the instrument through which entrepreneurial economies are realized (Drucker 1985. Schumpeter (1934) identified five sources of innovation:
innovativeness of an economy can be augmented through a system of specialization where larger or more mature firms acquire innovative and successful smaller firms (Lindholm 1994
Higher productivity of economies was attributed to â€oeinvestment in capital, †which is mainly related to knowledge (Schultz 1959.
and political economists of the modern era, the German writer Max Weber. The bureaucratic theory is limited actually a contribution to a much more encompassing work of analysis of the
behavior, and the general beliefs predominant in the economic system (Burgess 2009 Commons 1924, Cooley 1956, Weber 1968, Powell and Dimaggio 1991
including profitability, activity, liquidity, assets†balance, and cash position (Libby 1975 Keasey and Watson (1987) used financial ratios, such as profitability, liquidity, and gearing
to cover various aspects of company performance. I used the financial parameters most commonly reported by Swedish small firms (Abouzeedan 2001.
technology generation and absorption on economies 74 We often wondered why some countries lack entrepreneurial drive
the innovation vitality of an economy from the perspective of individual firms†needs and external environments.
In that paper, we argued that economies have different levels of entrepreneurial activities depending on the availability of tangible and intangible
IBAM is an analytical tool that classifies economies based on their entrepreneurial conditions. IBAM was used to look specifically at Arab countries using a
of innovation capital must be in balance in order for an economy to be innovative and
total innovative environment of the economy The IBAM analysis produced two types of economies, one in which firms and
their founders are entrepreneurial and the other in which firms and individuals in them are less
entrepreneurial economies in that region is the â€oeadditive solution. †We felt the need to continue the arguments presented in the previous paper
The paper solidifies the issue of knowledge†s impact on the economic value of product development by proposing new concepts such as the Knowledge Embedded Value
Furthermore, the paper looked at basic factors shaping the economies of the Arab countries, including the negative impact of e-globalization on Arab countries
and the competitiveness of the Arab economy. The paper considered the characteristics of the Arab world economy and compared them to the characteristics necessary for an e
-globalized economy. The paper was closed with a discussion about the best strategies to achieve the â€oeadditive Balance Solution. †The recommendation was to begin a gradual
assimilation process encompassing several steps in order to create a single Arab market. The strategies presented seek to reflect a pragmatic, action-oriented sense of the possible
Thus, the analysis suggested in the paper can be used to assess any economy or group of economies
Contribution of paper 5 to the purpose of the thesis A model is needed that connects the performance of SMES in relation to the
All entrepreneurial relevant characteristics such as the nature of the local economy the high degree of fragmentation and dispersion of the economic structure, the narrow scope
and the non-originality of the economic theory all stem, to a large extent, from negligence of the role played by SMES
required can help us to understand the innovation dynamics in economies as relates to the
the degree of richness of the entrepreneurial environment in an economy. However, the issue of accessibility and openness in the innovation process was reflected not in the innovation
Innovation activities in modern economies tend to be interconnected and open in their natures, and our understanding of the innovation process
Neglecting the networking nature of modern economy is a major weakness in classical performance models for SME, especially as concerns innovation issues.
economy, the high degree of fragmentation and dispersion of the economic structure, the narrow scope of economic development due to policies that focus on only a few sectors, the
non-originality of the economic theory, stem, to a large extent, from negligence of the role played by SMES
Neglecting the networking nature of modern economy in relation to innovation issues is a major weakness in classical SME performance models.
required can help us to understand the innovation dynamics of economies. In that sense, using an SME performance model that incorporates innovation activities in its build up is a
performance in an economy There are wide variations in the natures of SME models. Some of the models are
capital is concerned more with societal input into the innovation activities of an economy I also addressed the issue of firm openness
entrepreneurial drive of the economy. The optimal situation is one where the four components of innovation capital are relatively abundant at the same level.
variations of innovation capital levels in an economy, I introduced the Innovation Balance Matrix (IBAM.
a performance input indicator to build models at the aggregate level of the economy Implications for SME research policies
of SMES in a given economy, and even to study several possible progressions scenarios for
economy. Presented at the 7th Uddevalla Symposium, à stfold University college Fredrikstad, Norway, 17†19 june Abrahamsson, M. and Brege, S. 1997.
The Global economy. Ann arbor, Michigan: University of Michigan Press, 164†173 Adams, J. D. 1980. Relative capital formulation in the United states. Journal of Political
Economy 88 (31), 561†577 Adizes, I. 1987. Organisations livscykler. Malmã, Liber 104 Ahmed, N. R. and Retzloff, C. D. 1995.
Economics and Statistics 73 (3), 441†450 Audretsch, D. B. and Mahmood, T. 1994. Firm selection and industry evolution:
Journal of Evolutionary Economics 4 (3), 243†260 Australian Bureau of Statistics. 1988). ) Catalogue1321. 0. AGPS.
Journal of Evolutionary Economics 7 (4), 435†457 Barnard, C. 1938. The functions of the executive.
A firm-level analysis. Cambridge Journal of Economics 30 (3), 435†458 Camagni, R. 1991.
Economics of Innovation and New Technology 14 (1†2), 43†61 Cefis, E. and Marsili, O. 2005.
European Economic growth 39 (5), 859†887 Cohen, W. M. and Levinthal, D. A. 1989. Innovation and learning:
Regional innovation systems and knowledge economy. Industrial & Corporate Change 10 (4), 945†974 Cooley, C. H. ed.)(1956.
International Review of Applied Economics 16 (3), 265†276 Covin, J. G. and Slevin, D. P. 1989.
Economics 12 (4), 519†542 Cyert, R. M. and Hedrick, C. L. H. 1972. Theory of the firm:
of the role of education and competence development in macro economic growth. Paper prepared for the OECD Directorate for Social affairs, Manpower and Educationâ€
Journal of Industrial Economics 35 (4), 567†581 Evans, D. S. 1987b. Tests of alternative theories of firm growth.
Economy 95 (4), 657†674 Fayol, H. 1949. General and industrial management. London, UK: Pitman (Trans.
Economics 14 (3), 195†210 Freeman, C. and Sote, L. 1997. The economics of industrial revolution.
Third Edition London, UK: Penguin Books Galbraith, J. 1982. The stages of growth. Journal of Business Strategy 3 (Fall), 70†79
The Empirical Renaissance in Industrial Economics 35 (4), 583†606 Hall, R. E. and Jones, C i. 1999.
Quarterly Journal of Economics 114 (1), 83†116 Hannan, M. T. and Freeman, J. 1977.
Department of Industrial Management and Economics, Chalmers University of Technology Jain, B. A. and Nag, B. N. 1997.
of management and Economics, No. 24, Ph d dissertation, Linkã ping, Sweden Klofsten, M. 1992b. Tidiga utvecklingsprocesser I teknikbaserade fã retag†En
International Journal of the Economics of Business 8 (3), 343†364 Knight, F. 1971. Risk, Uncertainty and Profit.
The Journal of Industrial Economics 33 (3: 327†338 Laforge, R. W. and Miller, S. J. 1987.
BAS Publishing, School of business, Economics and Law, Gothenburg University Lawrence, P. R. and Lorsch, J. W. 1967.
Management and Economics, Chalmers University of Technology 117 Lindholm, Ã. 1994. The economics of technology-related ownership changes:
A study of innovativeness and growth through acquisitions and spin-offs. Phd Dissertation Gothenburg, Sweden: Chalmers University of Technology (ISBN 91-7197-054
economic growth. Quarterly Journal of Economics 107 (2), 407†437 Mansfield, E. 1962. Entry, Gibrat†s law, innovation,
and the growth of firms. The American Economic Review 52 (5), 1023†1051 March, J. G. and Simon, H. A. 1958.
The source for positivism in economics. Economica 51 (203), 307†318 Motwani, J.,Dandridge, T.,Jiang, J. and Soderquist, K. 1999.
economic growth. A e. R. Papers and Proc 56 (May), 69†75 Nelson, R. R. and Winter, S g. 1978.
Bell Journal of Economics 9 (2), 524†548 Nelson, R. and Winter, S. 1982. An evolutionary theory of economic change.
returns in the Internet economy. Journal of Economics & Management Strategy 14 (1 141†164
Nonaka, I. and Takeuchi, H. 1995. The knowledge-creating company. New york, New York: Oxford university Press
Promoting entrepreneurship and innovation in a global economy: Towards a more responsible and inclusive globalization. 2nd OECD Conference of Ministers
The Journal of Media Economics 7 (2), 39†53 Peel, M. J. 1985. Timeliness of accounting reports
logistic analysis. University of Liverpool, Discussion papers in Economics, No. 54 October), University of Liverpool, Liverpool, UK
Post Keynesian Economics 25 (1), 105†121 Polanyi, M. 1967. The tacit dimension. Garden City, New york:
versus dispersal economies. Presented in The Uddevalla Symposium 2002, Innovation Entrepreneurship, Regional Development and Public Policy in the Emerging Digital
Economy. University of Trollhã¤ttan, Uddevalla, Uddevalla, Sweden, 6†8 june, 393†411 Porter, M. E. 1980.
The Economics of Business enterprise: An Introduction to Economic Organization and the Theory of the Firm.
Economics 1 (1), 51†64 Rothwell, R. 1991. External networking and innovation in small and medium-sized
Human wealth and economic growth. The Humanist 19, 71†81 Schultz, T. W. 1971. Investment in human capital:
Small Business Economics 4 (2 125†131 Wamsley, G. L. and Zald, M. N. 1973.
Economy and society: An interpretive sociology, 2 volumes. G. Roth and C. Wittich (eds..New york, New york:
The economics of organization: The transaction cost approach American Journal of Sociology 87 (3), 548†577
Transaction cost economics and organization theory. In N. J Smelser and R. Swedberg (eds. The Handbook of Economic Sociology.
Socio-Organizational Challenges of the Knowledge Economy Tà lã-universitã/Universitã du Quã bec à Montrã al
Challenges of the Knowledge Economy. She is professor and director of research at the TÃ lã-universitã of the Universitã du Quã bec.
perspective of evolutionary economists. We will reconstruct an explanation of social innovation as a cognitive process confronted with localized social resistance, thus posing
notion into the field of economics, Schumpeter derives from it the notion of business and
introduces this discovery into the firm, the industry, the economy, that is, strictly speaking the person responsible for its diffusion.
â€oeevolutionary†economists who completed their work by proposing a global vision of innovation. For this movement, innovation is a process (Freeman et al.
According to evolutionary economists, the innovation process occurs in an organization or a firm; thus, their vision is closer to that of Schumpeter (Dosi, 1988.
However, for the evolutionary economists these two places (SMES and large enterprises) do succeed not necessarily one another in
economic growth. It also and especially refers to the voluntary actions taken jointly by entrepreneurs and organizations to appropriate the innovative process,
evolutionary economists and authors who have drawn on their work. Thus, writings by Chambon, David and Deverey (1982) on social innovation, by Flichy (1995) on technical
by Polanyi (1944), who redefines the field of what constitutes economics. It should be recalled that Polanyi defines the economy as a dynamic set of social processes which are
continuously being transformed and from where stem forms of integration based on reciprocity (symmetric logic), redistribution (centralizing logic) and exchange (market logic
determinism is organized itself into a hierarchy around the reality of the global economy Our vision of innovation emphasizes the social construction of innovation and the
Knowledge Based Economy: Policy Issues for Canada and beyond. Vancouver: Centre for Japanese Research, UBC Press. 89-107
G. and L. Soete,(ed.)Technical change and economic theory, New york, Pinter, pp 221-238 Flichy, P. 1995) L†innovation technique.
Technical Change and Economic theory, New york, Pinter, pp. 349 -369 Maillat, D. 1992) Milieux et dynamique territoriale de l'innovation.
in economics, Universitã de Paris 1. 711 p Tremblay, D.-G. 1992. Innovation et marchã s internes du travail dans le secteur bancaire
Innovation Dynamics in a Diverse Economy. Montreal and Kingston: Mcgill-Queen†s University Press and School of Policy Studies, Queen†s
academic researchers and other stakeholders to build multi -disciplinary research projects and innovation services. She joined inno as a consultant in economic
process of continuous policy learning among all interested regional policy stakeholders around Europe Michel Lamblin Erwin Siweris
•Telephone interviews with project lead partners and stakeholders •Visit to the EURIS project •Two Thematic Workshops organized together with the Innovations Systems theme.
Innovation can occur in any sector of the economy, including government services such as health or education.
IPR Economies rely increasingly on knowledge-based competitiveness, and innovation is increasingly non-technological in nature.
Innovation, Research and Competence in the Learning Economy), Lund University, Sweden, 2012 6 †Community Framework for State Aid for Research and development and Innovation†published in the Official Journal of the
However, the global economic crisis had a rapid and significant negative impact on innovation worldwide. OECD figures reveal7 that total OECD-area business expenditure on research and
Besides the administrative burden which continues to be mentioned by the stakeholders interviewed during the evaluation process, there is also a perception that the low success rate for proposals creates
which was allocated to Innovation and the knowledge economy. The programme supports two types of projects:
This programme provides assistance to stakeholders that are implementing programmes under the European Territorial Cooperation Objective
economic growth and prosperity. ††RIS Guide 18 Research and Innovation Strategies for Smart Specialisation (RIS3
boosting their economy and productivity therefore benefiting SMES. Furthermore the RIS3 are built upon the industrial and economic fabric of each region
ensuring that there will be economic growth. The entrepreneurial knowledge is used to define each RIS3 and it is known as †the entrepreneurial process of discovery18.
top-level academic knowledge and synergies among innovation stakeholders. They contribute to the building of a knowledge-based economy and to achieving the Europe 2020 objectives of new growth
and job creation Procurement of Innovation Platform The Procurement of Innovation Platform19 is an online hub developed by ICLEI (an association of over
•Increased economic growth •Better products and services •Initiatives towards solving societal challenges In 2009, public procurements accounted for about 19%of the European Union†s GDP,
-based economy regions Innohubs http://www. innohubs. eu Innovation Hubs Promotion of innovation in edge cities
between traditional economy and competitive economy PERIA *http://www. peria. eu /Partnership on European Innovation Agencies
Improvement of innovation services provided by the Regional Innovation Agencies ERIK ACTION http://www. eriknetwork. net/erikaction
stakeholders to support open innovation Innovation Systems SMART +Innohubs Innomot Mini-Europe DISTRICT +PERIA ERIK ACTION
Economy Exchange, sharing and transfer of E -government and Wireless Broadband good practices E-government
and the Knowledge Economy) project†s objectives were to â€oeimprove regional and local Innovation & Knowledge-Economy policies through the exchange, sharing and
transfer of E-government and Wireless Broadband good practicesâ€. It identified GPS specifically addressing the inclusion of online services and management In public Administrations, with the aim of
problem is particularly urgent in a period of economic crisis and shortage of bank loans to industry, as
and is a top priority for all regional and national stakeholders involved in innovation support
o Lack of access to finance is considered by institutional stakeholders as the principal barrier preventing businesses from bringing innovations to the market
economy A Virtual Enterprise (VE) is a temporary alliance of enterprises that come together to share skills or core competencies
SMES, Fabrica Ethica has constructed a production process that makes the regional economy more competitive and able to differentiate its production on the basis of material and immaterial
converting scientific knowledge into economic activity, and leading to the creation of a network for business start-ups and knowledge transfer.
The main stakeholders involved in the Campus Programme are: IDEA as the manager of the
importance for the regional economy. This action promoted innovation in the wood sector at a
The stakeholders involved, as well as the timing of the transfer are critical factors. Indeed, projects mention that the stakeholders wishing to implement an external GP need to have the political and
financial independence necessary to do so •Involvement of the Managing Authority from the very beginning and continuously throughout the
With such a tool, regional stakeholders, including those not involved in INTERREG projects would be
Furthermore, the PERIA project focused on GPS from stakeholders of the local innovation systems Regional Innovation Agencies and Managing Authorities,
innovation as well as the knowledge economy in the field of health It is interesting to note that the INNOHUBS project from the INTERREG IVC programme involved
This programme provides assistance to stakeholders that are implementing programmes under the European Territorial Cooperation Objective.
and a hub for sharing information and GPS among stakeholders involved in ETC programmes. It is
Finally, new stakeholders like associations or Non-governmental organizations are invited to participate in the consortium to make the results more
will involve SMES but also other kinds of stakeholder research, education companies, citizens, NGO, etc The overarching objective of the Commission is to have 20%of the financing allotted to SMES (in FP7
and to support their stakeholders to take part in other European Programmes (including H2020. Second, regional authorities are supposed to orient
are crucial for fostering economic growth within local companies allowing for a better †entrepreneurial process of discovery†and resulting in better RIS3
for regional policymakers and stakeholders active in assisting SMES to overcome barriers to innovation 4. 1 General Recommendations for Local & Regional Authorities
economy and competitive economy Erik Action Upgrading the innovation capacity of existing firms Improvement of the capacities to increase
industries regions to knowledge based economy Project acronym Number of partners68 Country of the LP69
economy Theme: Innovation, research and technology development TYPE OF INTERVENTION Type of intervention: Regional Initiative
5 Germany Ministry of Science and Economy Saxony-Anhalt, Magdeburg 6 United kingdom Birmingham Technology Limited
the School in Business Economics and Law at the University of Gothenburg allows master students in
Business Economics to do an internship within a growing SME. The programme matches entrepreneurial students with SMES showing potential growth or experiencing a form of growth barrier
economy Theme: Innovation, research and technology development TYPE OF INTERVENTION Type of intervention: Capitalisation Project
the main industrial systems in the Tuscan economy A Virtual Enterprise (VE) is a temporary alliance of enterprises that come together to share skills or core
production process that makes the regional economy more competitive and able to differentiate its production on the basis of material and immaterial quality.
Innovation and the knowledge economy Theme: Innovation, research and technology development TYPE OF INTERVENTION Type of intervention:
a. Innovation champions engage key stakeholders and decision makers to support innovation 2. Vision and Strategy for innovation †defined through a collaborative process
Innovation and the knowledge economy Theme: Innovation, research and technology development TYPE OF INTERVENTION Type of intervention:
Innovation and the knowledge economy Theme: Innovation, research and technology development TYPE OF INTERVENTION Type of intervention:
Innovation and the knowledge economy Theme: Innovation, research and technology development TYPE OF INTERVENTION Type of intervention:
Innovation Scoreboard, training activities for innovation support stakeholders, coordination of the innovation support stakeholder†s actionsâ€.
Innovation and the knowledge economy Theme: Innovation, research and technology development TYPE OF INTERVENTION Type of intervention:
The SMES were considered always the main stakeholders of the whole process Good Practice analysis: As SMART+was a mini-programme that managed sub-projects, the analysis
•Smart Specialisation †the Concept, Knowledge Economists Policy Brief nâ°9. Knowledge f or
information economy and the challenges of an ageing population. The Organisation provides a setting where governments can compare policy experiences,
OF A TRANSITIONAL ECONOMY...113 Regional, national and international policies that have been decisive for prioritisation of domains...
A KNOWLEDGE BASED ECONOMY...118 Regional, national and international policies that have been decisive for prioritisation of domains...
Box 1. 8. Empowerment of stakeholders in the designing of the smart specialisation strategies...35
one way to lead their economies out of the crisis by leveraging regional dynamism in innovation
development of comparative advantage and more broadly in driving economic growth; ii) policy intelligence for identifying domains of present or future comparative advantage and;
arrangements that give a pivotal role to regions, private stakeholders and entrepreneurs in the process of translating specialisation strategies into economic and social outcomes
passively or actively †this information (e g. through stakeholder consultations, public-private partnerships IPRS) will be key
raised concerns amongst economists and others inside and outside the EU policy circles (Pontikakis, D. et
economic activity where a country or region excels or has the potential to excel in the future. It empowers
specialisation†2. Invention of a GPT extends the frontier of invention possibilities for the whole economy
economic growth. As such smart specialisation aims to accelerate structural change by encouraging the transformation of economic activities from a structural perspective.
It may in some cases mean modernising existing industries or enabling lagging sectors to improve their competitiveness through the
and economic crisis, including the current euro debt crisis, the concept of smart specialisation has found an echo in the OECD discussions on
Indeed, the OECD has exhorted countries to â€oego structural†to make economies more competitive; to â€oego
of these goals by focusing on promoting structural change in the economy through investments in
supply shocks and has forced also OECD governments to look more closely at where economic value is
innovation given the weight of agglomeration economies (OECD 2011. The smart specialisation approach responds to the need to better position regions/regional clusters in global value chains but also, for those
workshops and interviews with regional stakeholders are also important in the priority setting and discovery process.
innovation against the background of important changes in the structure of OECD economies. These economic changes are the result of both long-term and structural trends (e g. the diffusion of ICTS, the
Smart specialisation is a industrial and innovation framework for regional economies that aims to illustrate how public policies, framework conditions,
its productivity, competitiveness and economic growth path. It is a logical continuation in the process of deepening, diversifying and specialising of more general innovation strategies, taking into account
economies †as well as emerging economies-restart economic growth by leveraging innovation led/knowledge-based investments in regions
theories of economic growth (e g. the theory of the division of labour by Adam smith) and notably trade specialisation.
Modern recent strands of economic thought from evolutionary economics to the economics of agglomeration are also visible in the smart specialisation concept, notably the issue of increasing returns
and neoclassical spatial economics (Krugman and Venables Smart specialisation thus is very much an economic framework focussed on regions that aims to
competitiveness and economic growth. Another important feature of the smart specialisation concept is that through policy interventions focused on releasing entrepreneurial forces,
But entrepreneurship in the knowledge economy recognises that value added is generated also outside sole ownership, in spillovers, in networks of complementarity and
•foster stakeholder engagement and encourage governance innovation and experimentation •are based evidence and include sound monitoring and evaluation systems
problem since it focuses on entrepreneurs and co-ordination of policy over a broad range of stakeholders
where different private and business stakeholders assume direct responsibility on specific sub-projects and a platform provides full information of the development of the different initiatives.
or accelerate the transformation and modernisation of economic activities in clusters. There are also important synergies and complementarities between smart specialisation and cluster policy (e g. promotion
The idea or concept of â€oesmart specialisation†is based on long standing economic theories and empirical evidence and mobilises well tested policy instruments.
investments, in order to stimulate competitiveness, productivity and economic growth through entrepreneurial activities. Smart specialisation â€oestrategies†can be viewed as a mix of modern industrial
on the part of policy makers but also various stakeholders, including business. At the same time, they reflect the urgency of making tough choices in times of difficult transitions under severe budgetary
in light of challenges such as demographic change and competition from emerging economies The second trend which has created a fertile ground for smart specialisation,
The economics of R&d location (indivisibility, strong spatial clustering of innovation activities) makes regional responses to R&d globalisation naturally
The current economic crisis and more recently the euro debt crisis, has increased pressure on OECD governments to tackle longstanding structural problems in their economies.
Smart specialisation, both as an economic concept and a policy framework provides a novel avenue to pursue the dual objectives
have a high social value (development of the region†s economy), but the entrepreneur who makes this
economies Cluster policies Technology banks Public-private partnerships Innovation-oriented procurement Sectoral platforms SME support organisations
lower carbon economy was the environmental challenge of reducing CO2 emissions amidst an economic downturn The main objective of the smart specialisation strategy is to secure the environmental benefits while regenerating
in an increasingly globalised economy. Over the past two decades, globalisation has increased specialisation by creating opportunities for outsourcing and the development of global value chains.
Classical economic theory tells us that regions and countries will specialise in certain economic activities according to their factor endowments (land, capital, human resources.
Trade theory as elaborated by 19th century economist David Ricardo and expanded in the 20th century by Hekscher and Ohlin also tells us that countries tend to
specialise in the production of goods where they have a comparative advantage. Recent economic theories touching
on specialisation and trade (e g new trade theory) tell us that other factors play a role in specialisation, often connected
It is important to recall that in a global economy, changes in the factor endowments and in the specialisation
Moreover, changes in policy settings in countries with more rapidly changing institutions (e g. emerging economies
recognised as a relevant level of innovation policies given the weight of agglomeration economies (e g. the
stakeholders Multiply participation since none of the participants have authority to commit others The existing industrial
existing economic activities with new or emerging activities e g. new line of productive activity)( diversification An entirely new domain
•Ensure the commitment and involvement of all stakeholders †regional, national or supranational †in the designing of the strategy and consecution of its objectives.
The current economic crisis and more recently the euro debt crisis, has increased pressure on OECD governments to tackle longstanding structural problems in their economies.
But restarting growth has also increased attention in countries about the need to preserve the margin for public investment in knowledge
and well positioned to mobilise other stakeholders and resources and to set the strategic framework for further actions.
the relevant stakeholders that have the potential to provide value added. These structures are necessary to
ensure the †open invitation†flows between all stakeholders and empowering as well as accelerating the learning process.
stakeholders contribute to identify existing capabilities (e g. research capabilities) but also barriers (e g regulatory constrains or institutional problems) to allow these activities to flourish further (See box 1. 5
involved the stakeholders from the wide business community and built the †light structure†that was needed to raise funding from the Flemish government.
regional panels, the national government gets engaged in intensive consultation with regional stakeholders, in order to detect emerging opportunities
The universities dealing with economics, public policy and administration, and specific policy areas e g. industry, health, agriculture, environment and culture) can play a crucial role during the process of
As companies are continuously redefining their strategies, regional governments and key stakeholders should be ready to adjust their responses rapidly to the changing conditions (e g. strengthening the
stakeholders. Based on this, the Grains Research and development Corporation (GRDC) identifies the most likely drivers of change in the GRDC's immediate and broader business environments over the next five years.
and regional economies are increasingly interconnected. Governments may want to take the interregional and international dimension of the
economies lead the Grains Research and development Corporation to design its priorities to be compatible with other
The mobilisation and empowerment of key stakeholders and institutions to realise their potential as leading contributors are essential elements to transform a traditional regional innovation strategies into
increase transparency on how stakeholders are selected, involved and, especially, what role empowerment) they are provided during the process (See Box 1. 8
Box 1. 8. Empowerment of stakeholders in the designing of the smart specialisation strategies In the context of the Brainport Eindhoven Region in The netherlands, the innovation system is to an important extent
on the contrary, relevant stakeholders of the automotive sector (Companies of the cluster of the automotive sector are acknowledged to enjoy a strong â€oecritical massâ€) are invited only with advisory capacity to the STI policy
†as necessaryâ€, to allow stakeholders to identify specific problems and generate policy recommendations that feed
After the meetings, the SCST †assigns†tasks to stakeholders for the implementation of the adopted decrees
established, counting more than 250 stakeholders. Agents from the business side, academics, and special interest groups and from the social partners, participated in the design and implementation of the â€oeinnovative Upper Austria
RTA), and the Revealed Comparative Advantage (RCA) for economic activities, are used to avoid biases and to
stakeholders and cannot be used directly for taking decisions, notably because they can hardly identify emerging
STIE=Science, Technology, Innovation, Economy Source: ECOOM-Centre for Research & development Monitoring at Leuven University Additional limitations to data analyses arise
powerful tool to develop a shared vision of the future among all stakeholders. Such an exercise may be a
systematic involvement of stakeholders in an inclusive process with long-term perspective for the analysis of different perspectives and their social relations in the system;
studies of the renewal of the Finnish economy and innovation environment. The study represents pioneering work in
invitation †and empower the relevant stakeholders that have the potential to provide value added
all stakeholders INNOVATION-DRIVEN GROWTH IN REGIONS: THE ROLE OF SMART SPECIALISATION 40 Â OECD 2013
National Innovation Strategy, the Ministry of Employment and Economy Corporate Strategy and Sectoral Strategies the Finnish Funding Agency for Technology and Innovation Investment Strategy (Tekes) and the Regional Innovation
The Tekes 2008 strategic focus area paper â€oepeople-Economy-Environment †Choices for building the
of change and current challenges of the Finnish economy and industries. In accordance, it presents eight national
the aim to increase the competitiveness of the Finnish economy by: i) building a strong knowledge base network;
renewing the economy and creating new businesses; iii) increasing productivity in industries and the service sector
the growing interconnectedness of economies reenforce the need for increased regional and international collaboration and for a coherent alignment of policy
communication with stakeholders for further strategic co-ordination and fine tune priorities setting. Some national governments, such as Finland and Australia, organise regional panels to detect direct needs and to
economies into more competitive, job-rich and sustainable ones Linking policy instruments to priorities Smart specialisation encourages an outcome-driven approach to policies.
i) improve the absorptive capacity of the socioeconomic stakeholders including public staff and SMES) and;
economic growth, in order to support them •Educational programmes: updating the skills required by the increasingly cross-sectoral and
priorities, both for regions and countries (Figure 1. 2). The influence of stakeholders, either individually
international experts and stakeholders to identify emerging issues and trends, Systemic Foresight Methodology). ) Fostering a structural transition from policymaking to cycles of policy
an economic policy concept •Developing monitoring and evaluation systems geared to smart specialisation. This is discussed
of Economics, Volume 106, Issue 1, 103-121  OECD 2013 53 Greenhalgh, C. and M. Rogers (2010), †Innovation, Intellectual Property and Economic Growth†Princeton
Economics, Volumen 72,2 Hausmann R. and B. Klinger,(2006a. †Structural Transformation and Patterns of Comparative
†International Review of Applied Economics, 26:2, 223 -239  OECD 2013 55 PART II †CASE STUDIES ON SMART
and researcher stakeholders involved, promotes research, development, innovation and extension of research findings. Priorities are driven industry,
The GRDC works closely with its two key stakeholders †Australian grain growers and the Australian Government.
•The Australian Bureau of Agriculture and Resource Economics and Sciences (ABARES) Farm Innovation Survey was conducted first in 2008.
stakeholder input. All grain growers in Australia are required to contribute to GRDC operations via a 1
consults extensively with stakeholders, particularly growers; iii) maintains strong networks with researchers and these networks alert it to opportunities for world-leading research;
situational analyses of its stakeholder industries; and v) commissions other agencies to study aspects of the
Australian grains ecosystem is connected across the Australian and global economies the GRDC designs its priorities to be compatible with other regional, national and international drivers such as:
stakeholders, the GRDC has identified the most likely drivers of change in the GRDC's immediate and
20 Australian Bureau of Statistics (2012) Agricultural Commodities. Available at www. abs. gov. au/ausstats/abs@.nsf/mf/7121.0
23 Australian Bureau of Statistics (2012) Agricultural Commodities. Available at www. abs. gov. au/ausstats/abs@.nsf/mf/7121.0
24 Australian Bureau of Agricultural and Resource Economics and Sciences (2012) Agricultural Commodities. March Quarter 2012.
to create economic value for the Flemish economy; and iii) to help Flanders to obtain a strong position in
research centre, during the course of the OECD-TIP exercises, a wider set of stakeholders †universities
In the Flemish administration, the Department of Economy, Science and Innovation (EWI) has this responsibility.
the question whether Nfh has a potential economic value for the Flemish  OECD 2013 63
economy is difficult to predict. Whether there are opportunities for new start-ups or technology exploitation for existing Flemish companies is too early to say as the foreseen technological breakthroughs
The mapping exercise created enthusiasm shared by a wide set of stakeholders from research and
positioned to mobilise other stakeholders and to set a strategic framework for further actions. In
mobilise other stakeholders. If there is little support from a variety of actors (e g. promoted by
stakeholders High private expenditures on R&d Many †soft†innovation anchors training, skills etc Commitment to sustainability W
Economy policy and Science, Technology and Innovation (STI) policy. The topic of FISCH, sustainable chemistry, does fit Flanders†prioritisation policies very well.
example in the Whitepaper on New Industrial Policy (economy policy) and thus is a tangible intersection
between the innovation policy and the economy policy. Figure 2. 2 shows the priorities of all relevant
i) questionnaires and interviews of the most important stakeholders on the  OECD 2013 69
stakeholder groups (large companies, small companies, societal stakeholders The further development of smart specialisation is characterised by the facilitation of a multi-actor
while Flanders†economy shows a clear specialisation in chemistry, the technological and scientific specialisation level is much lower:
•Broad consultation and stakeholder involvement: have been crucial elements in the development of the strategy process.
stakeholders have enriched the strategies, and dedication of the FISCH members is simply necessary to fund the platform and projects.
the mismatch between the strengths in the economic system and strengths in the research system is a policy challenge.
Dutch economy, together with Seaport (Port of Rotterdam) and Airport (Schiphol Amsterdam. Brainport belongs to a select group of high performing high-tech clusters in Europe.
provinces, most importantly in regional-economic policy, nature management and spatial planning Priority setting in the governance system
stakeholders together, acting as a catalyst and stimulator, in a project-based manner, and to shape
borne and backed by the stakeholders involved rather than by Brainport. Under the header of Brainport independent cooperatives have been established
Brainport 2020, Top Economy and Smart Society is an ambitious regional vision, strategy and implementation programme for the
consultation with regional stakeholders. The ambition is to be among the top three top technology regions
These various stakeholders establish the key assets in the ecosystem that drive entrepreneurial discovery inside and outside of the cluster.
local stakeholders to reach a consensus to establish a new local economic development plan and strategies
the Ministry of Knowledge Economy programmes because it focuses on technology development and commercialisation. Currently, Gwangju cooperates with the neighbouring provinces of Jeonnam and
•Multilevel coordination and mobilisation of stakeholders: Photonics was the first industry promoted by the central
-level governing mechanism to coordinate stakeholders and a consensus development process •The role of smart specialisation:
General Secretary of Universities, Andalusian Ministry of Economy, Innovation, Science and Employment Definition of the ecosystem and its boundaries
Knowledge & Innovation based economy and in one of the engines of development. †This way the Plan
The automotive sector has been the pioneering sector of the Turkish economy in terms of exports and R&di capabilities.
officials, 32 while other relevant stakeholders are invited to the meetings with advisory status. SCST is an
SCST further assigns tasks to stakeholders for the implementation of the adopted decrees. As necessary, ad hoc committees have allowed stakeholders to
identify specific problems and generate policy recommendations that feed back into the policy-making process at the SCST level.
technology platforms involving SCST permanent members and/or stakeholders. The 24th meeting of SCST for example, was realized on 7 august 2012;
Prepared under the coordination of the Ministry of Economy Turkey†s Export Strategy for 2023 aims
Higher education, Undersecretaries of the Ministry of Development and the Ministry of Economy, Undersecretary of Treasury, Chairman of the Turkish Atomic energy Authority, President of TÃOEBÄ°TAK and a Vice president, General
135,000 direct jobs and contributes some GBP 10 billion value-added to the United kingdom economy The United kingdom produces over one million cars annually,
•Broad stakeholder consultation: Through wide consultation it was possible for all relevant stakeholders to contribute
and commit to a consensus view around future innovation needs within the industry and the research needed to get there.
the economy  OECD 2013 95 Notes 33 At the time, the department was known as the Department for Business enterprise and Regulatory Reform (BERR
CSIRO is currently working with stakeholders around the design of this precinct  OECD 2013 97
Stakeholder dialogue is the primary tool used by SEMIP to build specialisation in the region.
stakeholder participation in the development and sustainability of a region. Individual contacts and relationships form an important part of a regions economic fabric.
Stakeholder and policy dialogues to achieve the ambitions In Lower Austria already in 1997, at the beginning of the Regional Innovation Strategy Lower
creation achieved by stakeholder and policy dialogues is implemented bottom up as well as top down Good examples for a top down process are meetings of the cluster advisory board, where topics e g
and carried out interviews with stakeholders. It also completed a survey of the activities of other similar regions.
Further they support the structural transformation of the Lower Austrian economy and promote the creation of a knowledge-intensive economy (European commission 2011.
Lower Austria is one of the regions not specializing on explicit lead sectors, but on functional priorities
departments and directorates for â€oeregional planning, the economy and rural development†(department economic affairs) and â€oeeducation and society†(department Research and development and Education
innovation and economy â€oepromotion agenciesâ€, owned by majority by Upper Austria, have been organized under the common roof of the newly founded Upper Austrian Innovation Holding Gmbh.
The regional economy of Upper Austria is characterized by its very strong industrial core. The strong
main focus areas in the strategic economic and research programs are determined via stakeholder consultations, studies and analysis of regional requirements.
oriented economy. The active participation within the European union, the close cooperation with neighbouring and partner regions,
Stakeholder and policy dialogues to achieve the ambitions In Upper Austria knowledge creation achieved by stakeholder
and policy dialogs is implemented bottom up as well as top down. The strategic program â€oeinnovative Upper Austria 2010plus†is a nationally
+Foray, D.,P. David and B. Hall,(2009) â€oesmart Specialisation †The Concept†Knowledge Economists
Vienna University of Economics and Business, Institute for Regional Development and Environment INNOVATION-DRIVEN GROWTH IN REGIONS:
CONDITIONS OF A TRANSITION ECONOMY Pavel Csank, Petr Chlã¡dek and David Uhlã Å, South Moravian Innovation Centre, Brno and Jiå Ã Blaå ek
Republic, as well as other transitional economies in Central europe, is a FDI branch plant driven economy characterised by a relatively underdeveloped sector of knowledge-intensive business services
compared to the innovation leading economies. Key industries are dominated by multinationals†plants usually without strategic marketing, sales and R&d operations,
The economy of South Moravia is driven by firms concentrated in the regional capital (the city of Brno), a dynamic and innovative centre and the
stakeholders who trusted each other and both wish and were able to achieve common objectives; and ii) a
discussions with stakeholders about the results. A comprehensive external ex-post evaluation is planned to be conducted in 2015
economy within intricate global value chains. Research is global. It means that the best research
identify as many as possible narrow fields in which regional economy has significant position in the world market (e g. electron microscopes, cyber security SW.
Establishing a regional fund into which all stakeholders may be also various foundations and even engaged public) could put funds devoted to the
The key lessons learned might be helpful primarily for the regions from other transitional economies
economy •The perspective and therefore ambitions must be global: As science, technology and labour
approach of regional stakeholders •Each region has its own way to find and utilize the potential for smart specialisation:
KNOWLEDGE BASED ECONOMY Marge Seppo and Urmas Varblane, University of Tartu, Estonia and Karin Jaanson, Ministry of
key technologies in other sectors of economy (particularly in traditional industry, energy sector, transport etc.)
be distinguished based on combined evaluation of structure of Estonian economy. During this evaluation the research structure and industry structure in Estonia, resources of Estonia,
In planning and designing the future strategies different stakeholders are included †MER MEAC, Estonian Development Fund, University of Tartu (TIPS programme) are the initiators of the
Stakeholder and policy dialogues to achieve the ambitions Estonian innovation policy is based based on broad collaboration led by the advisory Research and
The connection between sector ministries, societal stakeholders and the core RDI system should be much stronger in the future.
of its economy. This is the result of the innovation system being focused on areas other than those that
dominate the Estonian economy today Scarcity of skilled human resources is currently and likely to remain a bottleneck for sustaining the
The connection between sector ministries, societal stakeholders and the core RDI system is insufficient. Also, the participation and activity of other stakeholders and
societal partners (entrepreneurs, civil society organisations) in advisory bodies is low and thereby limiting the capability of advisory bodies and stakeholders to define the social demand for RDI policy
There is a need to focus on fewer and stronger clusters. Particular emphasis should be paid on increasing the SME participation.
stakeholders. So far the involvement and coordination between different ministries and with industry has been an important problem.
Cooperation between all the stakeholders has to be definitely increased in the future •Social challenges: It is highly likely that some key topics are of international relevance, such as
which is reflected directly in the small number of companies, lack of economies of scale or critical mass in many areas of research and in particular, is evident in the availability of
the overall aim to increase the competitiveness of the Finnish economy. This involved goals of building a
renewing the economy and creating new businesses; increasing productivity in industries and the service sector;
formed between the National Innovation Strategy, the Ministry of Employment and Economy Corporate Strategy and Sectoral Strategies, the Tekes †the Finnish Funding Agency for Technology and Innovation
â€oepeople-Economy-Environment †Choices for building the future†represented the main linkage between regional and national strategies.
current challenges of the Finnish economy and industries. In accordance, it presents eight national (lead
versatile studies of the renewal of the Finnish economy and innovation environment. The study at hand
Stakeholder and policy dialogues to achieve the ambitions Interactions between government and cluster organisations (regional, national, international) are
In this sense, the strategy synchronization process between Tekes and regional stakeholders has involved: i) Regional government:
ii) National stakeholders: OSKE program on environment. Tekes as a national R&d funder; iii) EU€ s smart specialisation agenda;
Stakeholder and policy dialogues to achieve the ambitions Stakeholder†s involvements during the policy-making can be exemplified with the following figure
Efficiency of the Economy. Dynamic Poland 2020 The first regional foresight project (The technological foresight for sustainable development of the
economic growth, infrastructure, natural resources and new materials. The second regional foresight project (The Technology Perspective Krakã w-Maå opolska 202035) was carried out in
Under the project 10 key technologies for future development of regional economy have been defined. The ten most promising technologies in terms of the regional potential have been grouped into
and is financed from the Operational Programme Innovative Economy Coordination activities to support smart specialisation Overall coordination activities have been carried out by the regional authorities of the Maå opolska
monitors the state of Maå opolska economy; iii) Maå opolska Social policy Observatory which monitors and
activities of regional stakeholders (if any phenomenon occurs interesting or alarming it goes under separate
The regional economy has undergone many structural changes over the last 20 years, especially from low-tech manufacturing industries to medium-tech manufacturing industries and knowledge-based
Stakeholder and policy dialogues to achieve the ambitions One of the main goals of the regional authorities of the Maå opolska Region is to engage citizens
The goal of this approach is to involve stakeholders from a very early stage of
Stakeholders indicate the need to put more efforts on concentration of research and innovation priorities
•The role of universities in supporting transformation of regional economy: The example shows that important role in transformation of regional economy has been played by regional
universities, especially in the fields such as: ICT, multimedia and life sciences. Regional universities are engaged also in many initiatives aimed at addressing the main challenges in
challenging task including many stakeholders and active role of the regional authority. To define research and innovation priorities, the results of foresight activities could be used, but these
results should be discussed with stakeholders through public consultations. Another challenge is how to engage stakeholders in the process of implementation of RIS 2013-2020.
It seems that monitoring and evaluation system (i e. the Maå opolska Regional Development Observatories, and
regional stakeholders, but it is also the area supported through the instruments implemented at European level (e g. the CC Polandplus Krakã w) and national level (e g. the National Research
Provincial Councils of Alava, Bizkaia and Gipuzkoa in fiscal policy with important roles in economic promotion and development.
continuity of the economic crisis may pose to the economic sustainability of the Basque Innovation System
discovery processes in an economy that lacks high levels of innovative assets to regions/nations with
-down strategy is now revealing structural bottlenecks as local stakeholders seek new technological opportunities. The new strategy for a regional photonics cluster in the region of Gwangju is geared more to
the smart specialisation concept coordinating a network of local stakeholders In regions with relatively strong innovation capabilities, a rich network of institutions and well
-organised stakeholders, one of the key challenges for policy makers is how to make a balanced choice of
mobilising stakeholders to interact with government and cooperate with each other. These are often more generic policies rather than domain specific policies
set in very broad terms (e g. green energy) needing further stakeholder involvement to define this more
This raises discontent with groups of stakeholders who have expectations of receiving support from their government.
Alongside wide stakeholder consultations, there are ample examples of policy makers that have embraced actively the triple helix process to stimulate bottom-up
The depth and effectiveness of this stakeholder involvement are more difficult to assess across all cases
governments and stakeholders has shown to be very important in the dynamic cases Diagnostic tools to support smart specialisation
new stakeholders by disseminating the use of these tools, is as important to create broader support for a
easily accessible for stakeholders developing their joint strategies Open regions and cross-border activities The need to develop linkages with regions
economy/RIS. Precisely, measuring of impact then takes place at regional level, programme level and
•Stakeholder involvement and the combination of bottom-up and top down prioritisation processes appear to be a common pattern in studied regions.
-organisation and commitment from these stakeholders in order to scale this up from an individual â€oegood ideaâ€, to a novel direction with a potential to impact value chains and clusters.
entrepreneurial stakeholders and contribute to enhance evidence based policy making. There INNOVATION-DRIVEN GROWTH IN REGIONS:
of the potential agglomeration economies at system level †as a multiplicity of imitative local government
activities in some targeted domains that offer present or future strengths for the regional economy.
across scientific, technological, innovative and economic activities both within regions and within global value chains INNOVATION-DRIVEN GROWTH IN REGIONS:
processes have a real potential to create new economic activities or to transform existing industries. This
and the sector structure of the economy on the other hand. Diagnosing apparent strengths, weaknesses, fits and misfits will allow policy makers
if the economics of smart specialisation is not to remain purely abstract, but is able to
of the population and the economy, the size of its R&d and research community and the technological
However, international databases on sectoral economic activity often aggregate many NACE or SIC codes into broad overarching sectors, such as †manufacturingâ€.
database contain many different sector-specific indicators for economic activity, including international trade, R&d expenditures, birth and death rates, High-Growth enterprises rates, turnover, value-added
country or region with its RCA€ s for a specific technology-economy node, one can compare its
In order to assess whether these processes have a real potential to create new economic activities or to
reaching their intended goal of transforming economies towards more competitive, job-rich and sustainable ones?
power on national and regional economies The OECD-TIP enquiry on smart specialisation governance Goal of the governance enquiry within the TIP project
influence of various types of stakeholders in the selection process is highly context-dependent, hence
innovation and economic policy independently of the federal level The alignment between national and regional priorities is fostered by a shared willingness from the
stakeholders Overall, strategic analyses are declared as one of the most important influence on the selection of
priorities, both for regions and countries (Figure 3. 9). The influence of stakeholders, either individually
Internationalisation of economy Potential to cope with societal†Strategic autonomy Potential for additional employment Potential for higher added value
•Reorienting the economy towards a knowledge-driven economy, ensuring renewal of the productive fabric both through transformation of existing companies/sectors and through the
•Protecting the advances that the economy has in certain fields, extending those areas where the
Overall the emphasis seems to be more on building on existing strengths to transform the economy
and across that field and the economy The frequency of use and roles of advisory bodies, high-level expert groups, hearings and polls
Within the RDTI field Between RDTI and economy Advis body Strategic council Round tables Intermi
Accordingly, it is estimated in this region that more than 50%of both regional R&d and economy budgets are dedicated to the priority areas
major tool from the economic policy domain. But the estimation is that all those policy instruments only
The whole range of tools from both RDTI and economic policy domains are reported as being intensively used, without distinction, for the support of three prioritised areas in Andalucia:
whilst most economic policy instruments are used in a moderate way to support the priorities (with the exception of cluster policy, a major instrument
economic policy. At regional level, in Gwangju, contrary to other regions in the sample, the use of policy
existing data or stakeholder action. Actually, the responses to the enquiry suggest that the approach followed puts much more weight on reinforcing existing strengths than on directing
•Mutual learning and expert support to improve the stakeholders involvement process and the interlinkages between quantitative and qualitative inputs into strategy formation process
stakeholders involvement is difficult to organise with respect to â€oefuture†or emerging areas of activities, because by definition those domains are organised less well
cases Structural Funds are the main funding sources for innovation and economic policies in the regions
adoption of a shared vision for the transformation of a regional economy towards a more competitive and
regions, and to mobilise the regional stakeholders for the process of strategy making. It helps regions to
promising for your regional economy in the upcoming decade •What upcoming threats and challenges do you see for the regional key economic sectors (and the
regional economy as a whole) in the next decade •How internationalised is your regional economy (i e. how export-oriented are the keys sectors
what is the level of foreign direct investment) †which sectors are most open in that respect?
•Does current academic education fit to the needs of the regional economy †do regional
& creative sector interact with the regional economy (i e do you have industry-science co-operations in you region, privately endowed chairs at
and identify the relevant stakeholders in the enterprise sector and the science, knowledge & creative sector
contact relevant stakeholders, distribute the guiding questions and organise necessary steps and milestones Perform an assessment of each sector by stakeholders stemming from the respective sector
Perform an assessment of each sector with a mutual outside view (e g. stakeholders from the
enterprise sector assess the science and the government sector and vice versa Prepare a first SWOT analysis as starting point for the RIS3 process.
â€oethe Ministry of Economy does not want to prioritise sectors. Taking into account the new strategic document, we could observe that Ministry of Economy prefers more horizontal approach and the
selection of areas of specialisation is (or will be) based on bottom-up approach. Ministry of Economy prefers to talk
about lead markets or key technologies i e. identified in the project Insight 2030, rather than economic sectorsâ€
Stakeholder and policy dialogues to achieve the ambitions Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery
Stakeholder and policy dialogues to achieve the ambitions Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery
Searching for a Smart Specialisation, Under the Conditions of a Transition Economy Regional, national and international policies that have been decisive for prioritization of domains
Estonian research and innovation strategies †the roadmap towards a knowledge based economy Regional, national and international policies that have been decisive for prioritisation of domains
Stakeholder and policy dialogues to achieve the ambitions Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery
Stakeholder and policy dialogues to achieve the ambitions Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery
Stakeholder and policy dialogues to achieve the ambitions Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery
Stakeholder and policy dialogues to achieve the ambitions Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery
Overtext Web Module V3.0 Alpha
Copyright Semantic-Knowledge, 1994-2011