The future of regional smart specialisation strategies : sustainable, inclusive and resilient

The Smart Specialisation Strategy (S3) concept was introduced by Foray et al. (2009), as part of the Knowledge for Growth Expert Group composed of growth and innovation economists, appointed in 2005 by Janez Potocnik, former European Commissioner for Science and Research. It also builds on the initiative of DG Regio that started in 1995 on developing Regional Technology Plans and later on Regional Innovation Strategies. The aim was to lend greater impetus to the Lisbon Strategy (2000). The approach emphasises the need for decision and policymakers to recognise innovation fostering technologies and sectors at the local level, focusing on areas of comparative strength while avoiding duplication and fragmentation of efforts (Foray et al., 2009). Smart Specialisation is interlinked with the EU Cohesion Policy, the main investment instrument at European level. The overarching intention is to narrow disparities between Member States and their regions. The economic and financial crisis in 2008 was responsible for an increase in unemployment, poverty and social exclusion, and the Cohesion Policy was conceived as a tool to implement the 'EU 2020 Strategy', which was aimed at supporting the transition towards smart, sustainable and inclusive growth across Europe. As a policy approach, the S3 promotes efficient, effective and synergistic use of public resources in support of the innovation capacity of the European territories; to co-create a regional programme together with the local stakeholders.