Abstract
Smart specialization strategies represent public policy initiatives to develop regions based on new combinations of knowledge and industries. The aim of this article is to enrich the theory and practice of smart specialization strategies (S3) by integrating the conceptualization of knowledge-intensive entrepreneurship (KIE). We propose that knowledge-intensive entrepreneurship is necessary in order to specify how public and private support of KIE firms can be beneficial to develop new knowledge relevant to the fulfillment of specific sustainable development goals. We did so by further developing a conceptual model of innovation governance routines by integrating sustainability goals. We also illustrated our conceptual model through two case studies from the Swedish maritime cluster. By extrapolating from the combination of the conceptual model and two case studies, we make three propositions about the different strategic roles that KIE firms can play within a broader S3 policy setting, and in such a way as to promote sustainability-related outcomes.
Highlights
Smart specialization strategies represent public policy initiatives to develop regions based on new combinations of knowledge and industries
We address how innovations commercialized through the process of knowledge-intensive entrepreneurship have a positive role for social attainment of sustainable development outcomes, and how different strategic possibilities for the KIE firm and public policy can enhance smart specialization and sustainability-related outcomes
We argue that by identifying and classifying different strategic actions of KIE firms and what drives these actions within an S3 area, policy makers can make a more holistic assessment of the role of these firms and how to best support these firms in order for new sustainable innovations to materialize
Summary
Smart specialization strategies represent public policy initiatives to develop regions based on new combinations of knowledge and industries. The collective action of science and technology refers to the role played by KIE firms in their invention, use, application or commercialization of new scientific and technological knowledge, or their collaboration in these specialized activities This can naturally occur in diverse sectors and can be crucial in smart specialization-related industries from a regional perspective. Incentives, and institutions play a reciprocal role in transferring this new science and technology into the realm of public knowledge, where a local or regional populous is aware of the development and the inventions or applications can find a market, resulting in successful innovation This comes about through collective action processes (See McKelvey, Zaring, and Szücs [4]), which could be approximated through wide-reaching collaborative programs spanning private and public sector actors. We describe and analyze two case studies, which illustrate how and why this conceptual model helps us to better understand S3 policy goals
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