Constructing Regional Advantage: Does it matter for Czech regions?

Innovation and competitiveness are two concepts which govern the national and regional policies throughout the world. Innovation is the key driver of global economic competitiveness. Regions are considered a key level where innovation processes are shaped, coordinated and governed through localized capabilities. While until recently competitiveness of economies was developed from comparative or competitive advantages, in the era of knowledge economy the new theory of constructed advantage allows for more attention to the role and impact of the public sector and public-private partnership in the economy, based upon the dimensions related and unrelated variety and differentiated knowledge bases. The key to the constructed advantage is regional innovation systems approach. The introduction to the new theory is explained in the paper in the view of European collaborative research project and the first assessment of how policies for constructing regional advantage can work within the environment of specific regions of the Czech Republic is proposed.