Over the new European Union programming period for 2021-2027, Smart Specialisation is expected to continue to play a major role towards regional development [1] and cohesion, with the deployment of five broad policy objectives [2] including the enhancement of sustainable growth and digitalization. It is featuring a new thematic enabling condition, focusing on "Good governance of national or regional smart specialisation strategy", and composed of seven fulfilment criteria covering the main success factors of Smart Specialisation Strategies, with respect to design, implementation and monitoring and evaluation mechanisms.
In particular, given its strong value-added potential, Smart Specialisation can boost innovation-led growth in the EU industrial transition regions and further integrate regional economies in European value chains. It also has a great potential to play to foster eco-innovation processes that respond to global environmental challenges, in line with the United Nations Sustainable Development Goals.
[1] Common Provisions regulation (11 December 2020 version) with a reference to the smart specialisation enabling condition on page 390 of the document ST 13693 2020 INIT
[2] European Regional Development Fund and Cohesion Fund regulation (11 December 2020 version)
In particular, given its strong value-added potential, Smart Specialisation can boost innovation-led growth in the EU industrial transition regions and further integrate regional economies in European value chains. It also has a great potential to play to foster eco-innovation processes that respond to global environmental challenges, in line with the United Nations Sustainable Development Goals.