The importance of the global economy and innovation networks calls for a regional innovation policy that goes beyond regional and national borders. Cooperation in S3 involves sharing knowledge, pursuing collaboration and exploiting synergies with S3 initiatives in other countries and regions. Transnational cooperation is a key component of smart specialisation strategies. Cooperation with others and an outward-looking perspective help monitor the competitive position of the country/region with regard to others and to identify its position within global value chains. Among the many reasons why policy makers should open up their smart specialisation strategies for transnational cooperation there are:
- Gaining from access to wider business and knowledge networks
- Getting necessary research capacity
- Reaching out other markets
- Expanding business opportunities
- Combining complementary strengths
- Joining global value chains.