Guide to Research and Innovation Strategies for Smart Specialisation

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• Opportunities for the Internationalisation ff SMEs, August 2011. • The EEN Network can help SMEs find sustainable partners to implement their internationalisation strategies. • For the 2014-2020 programming period, the European Commission has proposed to establish a Programme for the Competitiveness of Enterprises and Small and Mediumsized enterprises (COSME). One of the activities funded through the Programme will target the improvement of the access to markets inside the Union and globally 112 . 112 http://ec.europa.eu/cip/files/cosme/cosme-commission-proposal_en.pdf 94
Financial engineering instruments Why should financial engineering instruments be part of smart specialisation? For more than ten years, the EU budget has been using financial instruments such as loans, guarantees and equity investment for SMEs. In the 2007-2013 financial framework a new generation of financial instruments was put in place in cooperation with the EIB Group. In the area of structural funds, financial instruments have been set up to support enterprises, urban development, energy efficiency and renewable energies through revolving funds. Financial instruments have been set up to support farmers, rural micro- and tourism businesses, through the Rural Development Fund. The Europe 2020 Strategy envisages an increased use of financial instruments as part of an approach to pull together EU and national public and private funding in order to pursue the Strategy's objectives of smart, sustainable and inclusive growth. In this context, on 6 October 2011, the European Commission adopted a draft legislative package which will frame Cohesion Policy for the period 2014-2020 which provides a common framework for all EU policies in shared management including, rural development policy and maritime policy). This proposal emphasizes that the role of innovative financial instruments will be enhanced, by extending their scope and by rendering their implementation frameworks more flexible and effective, encouraging their use as a more efficient alternative of support or in a complementary way with traditional grants. The proposal represents a more solid legal and operational framework that provides clear and simplified rules concerning key implementation matters such as the financial management of EU contributions or the combination of financial instruments with grants. Subject to feasibility, financial instruments can be applied to the full bandwidth of policy objectives reflected in programmes, in order to deliver investments in projects which demonstrate appropriate repayment capacity in situations of market imperfection. They can be deployed by Member States and managing authorities either as tailor-made instruments or on the basis of pre-defined models for national or regional instruments which allow for efficient roll-out of operations in line with standard terms and conditions proposed by the Commission. Managing authorities may also contribute to financial instruments set up at EU level, with resources that will be ring-fenced for investments in line with the programmes concerned, for example a guarantee facility to incentivise financial intermediaries to extend loans to SMEs in the cultural and creative sectors (CCS) under the new Creative Europe Programme is being launched. Barriers and Challenges Given the relative newness of many of the financial instruments dissemination of information and exchange of experiences and good practices among Member States, regions and financial intermediaries implementing the financial instruments will remain essential for the ongoing implementation in the present programming period. But also due to increased role of financial instruments as stated in the cohesion policy post-2013 further focus will need be put on the promotion allowing new potential users to get familiar with this innovative way of financing and contribute to a smooth and rapid implementation of these instruments. 95
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European Union Regional Policy Guid
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Dominique Foray John Goddard Xabier
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TABLE OF CONTENTS INTRODUCTION ....
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LIST OF REGIONAL EXAMPLES Example 1
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horizontal approaches. These were i
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Smart specialisation has also been
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asked to play within that process i
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Who: Putting entrepreneurial knowle
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• Finally, radical foundation of
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• Secondly, this process is carri
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Therefore, they should not be thoug
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Tools suitable for this kind of ana
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Step 3 - Elaboration of an overall
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Step 6 - Integration of monitoring
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ANNEXES 27
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Step 1 - Analysis of the regional c
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problems, when regions remain too s
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3. 'Cluster' in-depth case studies
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Step 2 - Governance: Ensuring parti
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the contrary, they are offered as g
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'thing' that a minority of people p
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Some or all of these engagement mec
Page 45 and 46: national government agencies and th
Page 47 and 48: Each country and region will, of co
Page 49 and 50: side of the box provides a typology
Page 51 and 52: preparation and discussion of scena
Page 53 and 54: 2. Identification of the stakeholde
Page 55 and 56: But how to present the prioritised
Page 57 and 58: Traditional instruments Emerging In
Page 59 and 60: Type of OECD region by economic pro
Page 61 and 62: Developing a RIS3 involves a degree
Page 63 and 64: national statistics. If the program
Page 65 and 66: Being place-based Box 6 - Distincti
Page 67 and 68: ANNEX II: DELIVERY INSTRUMENTS AND
Page 69 and 70: Clusters and Smart Specialisation W
Page 71 and 72: • Promote cluster management exce
Page 73 and 74: Barriers and challenges Most SMEs a
Page 75 and 76: o the China SME IPR Helpdesk provid
Page 77 and 78: Science parks provide the advanced
Page 79 and 80: designing and delivering national a
Page 81 and 82: a mutual understanding of the drive
Page 83 and 84: Digital Agenda for Europe Why shoul
Page 85 and 86: • Rural Development: measures aim
Page 87 and 88: high speed internet infrastructure.
Page 89 and 90: For this, solid economic data is ne
Page 91 and 92: production and distribution methods
Page 93 and 94: • Develop innovative financial in
Page 95: all departments - research, innovat
Page 99 and 100: 2011: operated by the EIF on behalf
Page 101 and 102: the Bank's operational plan are Eco
Page 103 and 104: • Higher impact of innovation inv
Page 105 and 106: • To support financially the proc
Page 107 and 108: energy potential and climate impact
Page 109 and 110: First, the sustainable management o
Page 111 and 112: get out of grant logic, become self
Page 113 and 114: ANNEX III: REGIONAL RESEARCH AND IN
Page 115 and 116: 5.2 Does it foster the internationa
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Guide to Research and Innovation Strategies for Smart Specialisation

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