Smart Specialization Strategy Tools with Big Data

ended

This project aims to develop novel scientific metrics approaches and automated tools for the analysis and management of the European Smart Specialization Strategy. The European Union (EU) has introduced Smart Specialization Strategy (S3) to increase the innovation and competitive potential of its member states by identifying promising economic areas for investment and specialization. While the evaluation of Smart Specialization Strategy requires measurable criteria for the comparison of rate and level of development of regional economic activities, policy makers lack efficient and viable tools for mapping promising sectors for smart specialization. To address this issue, the proposed action intends to develop automated knowledge-based management tools and planning approaches for S3. In particular, we plan to develop novel methods for measuring the competitiveness of regional industries and entrepreneurial activities in order to avoid duplication and fragmentation of innovation effort in EU and to help European regions identify a niche market of specialization in a global value chain. The research will also develop big data foresight tools for testing and evaluating new firm business concepts and assessing patent values based on weak signals of technological changes. In this way, we aim to examine which European regions in which sectors produce radical and disruptive innovations and in which areas they show potential of future specialization. Moreover, we will study the effect of local knowledge resources on generating radical and disruptive business opportunities. To summarize, the project identifies and addresses major gaps in smart specialization research and provides new tools for this strategic field of research.