Cluster strategies and smart specialisation strategy: do they really leverage on knowledge and innovation-driven territorial growth?

Abstract

ABSTRACTThe aim of this paper is to explore and investigate the notion of cluster strategies and smart specialisation strategy as a twin perspective: knowledge & innovation-driven regional growth and regional economic development theoretical approach along with the policy perspective. The application of the cluster concept in smart specialisation strategy is the cornerstone of creating unique entrepreneurship and knowledge-driven innovation centre in the region connected to the provincial growth scheme. Both clusters and smart specialisation are gaining its fame in the EU's regional policy discourse, due to its role in the upcoming new Horizon 2020 programme, where, they have been applied by policy makers worldwide as building blocks for implementing different policies such as research & innovation, industrial and regional policies. This paper deliberates about the responsiveness and initiatives of the cluster concept and smart specialisation as an effective strategy that leverage on developing entrepreneurship and create knowledge and innovation-driven regional value.