Smart Specialization Strategies and Universities

Abstract

The smart specialization strategy is a cornerstone in the EU policy. The smart specialization policy and the entrepreneurial discovery process is formalized in order to generalize and implement the smart specialization concept. The main conclusion of the proposed theoretical framework is that the smart specialization strategy is efficient if it increases the productivity of the largest factor in the region. Starting from the biased technological change notion, the proposed theoretical framework shows the pivotal role of the university for the efficient implementation of the smart specialization strategy not only in the short and medium term but also in the long term.