The concept of Smart Specialisation Strategy (S3) aims to support your region to improve its strategic economic development. Regarding the Smart Specialisation of your region, characteristics and assets unique to your region are identified to diagnose the economic potential of your region. Smart Specialisation requires comprehensive knowledge of the region and the regional economy as well as a sound methodology and process to design and implement a Smart Specialisation Strategy for your region. This process with its excellence-driven vision of the future strengthens your regional innovation system and eventually the entire regional economy.
We have compiled a stepwise process necessary for the design of your Smart Specialisation strategy and its successful application. Summarised in a compact chart set, all evidence-based steps to develop such a strategy are derived.
The first step of the process develops a precise definition of your region. It can reach from a basic map to a detailed analysis of different test regions. In the second step, we develop the base of evidence which forms the foundation of any S3. Moreover, we conduct an international benchmarking comparison of your region with a selected group of peer regions to assess your region’s position within the international market. Within this framework, the following areas are analysed:
Economic performance according to different indicators and methods (population development in your region, GDP per capita, GDP growth, jobs and job creation, population growth, decomposition of growth)
Industrial focus according to sectoral contributions to GDP growth; we distinguish between basic industries, service sectors and other key industries identified in your region, based on up to 115 individual industries which are covered in the Regional Economic Database
Competitiveness in terms of regional export-oriented sectors their productiveness and national labour costs.
Location quality in terms of different location factors (i.e. accessibility, taxes, regulation, skilled labour force)
Innovation capacities in terms of selective indicators as for example R&D expenses, quality of the universities and their integration in your region as well as patents
BAK Economics developed a Regional Economic Database (RED) and provides different advisory services to support regions in their strategic economic development.
For general information on the RED visit:
BAK Regional Economic Analysis
To get more details on the advisory services regarding S3 visit:
Dr Andrea Wagner