This is the first book on a new policy approach that has been widely adopted in Europe and beyond. It analyses the concept of smart specialisation and discuss the need for smart specialisation strategies, explains why the approach is new and different from more standard policy processes and explores what are the conditions for successful implementation. Smart Specialisation: Opportunities and Challenges for Regional Innovation Policy describes the origin of the concept, explains when a smart specialisation policy is necessary, provides a detailed analysis of the design principles of the policy and discuss the pertinence of this approach according to regional development levels. Finally the book discuss the practical implementation phase of the process – based on the first feedback acquired from certain regions engaged in the preparation of their smart specialisation strategy. The book is original in that it provides the first full analysis of smart specialisation strategies both at theoretical and practical levels. It has been written at the critical period of the implementation of smart specialisation strategies in every region in Europe. The fact that the EU has adopted smart specialisation as a mandatory principle for every region and member states will make this book well received by and very useful for: i) policy makers in regional and national administrations in Europe, ii) policy makers in other parts of the world who are in charge of regional policy and have heard about the concept, iii) consultants, analysts and experts who are active on the "markets for smart specialisation diagnosis and expertise", iv) scholars, researchers and graduate students working in the field of regional studies, technology policy and geography of innovation.

Regional growth in the European Union hinges to a large extent on smart specialization, a new and exciting theme in economic innovation studies. Advances in the Theory and Practice of Smart Specialization illuminates problems that have stifled the implementation of smart specialization policies, such as unique regional constraints and the inter-dependent demands of economic growth and commercial development. Forward-looking and pragmatic, it provides guidance for developing smart specialization strategies both to those involved in European affairs and others grappling with regional innovation and economic development worldwide. - Emphasizes specific contexts for smart specialization, its international approach and institutional preconditions - Examines comparable initiatives worldwide - Explains how to implement smart specialization policies given different development levels of regions and countries

This monograph presents the experience in the implementation of smart specialization strategies (S3) from multilevel policy governance, as well as from the bottom-up perspectives of firms, clusters, and networks in selected European countries. The presented research focuses on relevance and feasibility of the S3 adoption, emphasizing the importance of linking policy considerations with partnerships at lower governance levels. The major contribution of the presented research rests in theoretical implications and practical recommendations relevant for the implementation of regional S3 in the European context, with the possibility of place-based adoption in other environments. The book is also valuable for synthesizing the most recent advancements in smart specialization as a policy concept and the concept of transformation and growth for territorial units and economic entities. This book aims to further diffuse and expand the academic community’s learning of the new S3 approach in Europe and beyond. The book will be of interest and useful to the academic community of researchers and doctoral students focused on regional innovation development and related policy, as well as on entrepreneurship, networks, and clusters. Public sector professionals dealing with regional development, regional innovation policies, and industrial transformation will also benefit from its content.

This Expo book brings together leading academic and policymaker experts to reflect on the significant challenges faced by lagging regions in participating in the European Union’s Research and Innovation Strategies for Smart Specialisation (RIS3) programme. In doing so, the book offers a set of new policy recommendations on the design and implementation of appropriate Smart Specialisation Strategies (S3) in lagging regions, which may enable them to benefit from the opportunities of digitalisation and Industry 4.0 (I4.0).

As the global economy continues to evolve, the idea of sustainability has become a prevalent area of concentration. Businesses are searching for more environmentally and socially conscious practices as the market distances itself from the industrial age. Implementing sustainable initiatives starts with entrepreneurs, as these individuals are the foundation for creating and building profitable societies. Understanding the practice of sustainable entrepreneurship is pivotal in predicting future trends in business and the economy. Building an Entrepreneurial and Sustainable Society provides emerging research exploring the theoretical and practical aspects of sustainability within entrepreneurship and its applications in modern socioeconomics. Featuring coverage on a broad range of topics such as public policies, internationalization, and social innovation, this book is ideally designed for entrepreneurs, business specialists, professionals, researchers, managers, economists, educators, scholars, and students seeking current research on the evolution of sustainable entrepreneurship and its contextual factors.

Smart specialisation is the new policy approach to the development of regional innovation systems across Europe and it involves fostering innovative and entrepreneurial initiatives which are well tailored to the local context. The different technologies, skills profiles, business activities, institutions and sectors which reflect a region’s economic strengths and potential are to be fostered and encouraged to diversify in ways which also exploit the region’s linkages with broader global value-chains. Yet, the ideas contained in the smart specialisation agenda have until now been primarily conceptual in nature. The Empirical and Institutional Dimensions of Smart Specialisation draws together some of the leading regional economists and scientists in Europe to analyse how smart specialisation is working in practice. This book investigates different dimensions of the agenda as it is developing across parts of Europe from both quantitative and qualitative perspectives. The quantitative analysis examines the nature of the diversification processes undertaken by regions and the interplay between the chosen local regional development priorities and the wider global value-chain impacts of these choices. Meanwhile, the qualitative analysis examines the institutional opportunities and challenges facing policy makers and the key elements most likely to provide the underpinnings of a workable set of policy settings. The book is aimed both at academic researchers interested in the interface between economic geography and regional innovation systems as well as at policy makers making public policy decisions related to regional development at the local, city, regional or national levels.

This book explores statistical models in regional specialization, presenting a brand new measure. It begins by reviewing existing indicators and models of regional specialization before outlining a newly created, spatially embedded model of specialization based on the spatial distribution of firms. It addresses the various applications of the model, and how the model can be used in regional policy.