Smart specialization and entrepreneurial discovery: Theory and reality

Abstract

Smart specialization appears as key element not only in relation to the programming of EU funds for 2014-2020, but as an opportunity to generate wealth and jobs through the phenomenon known as entrepreneurial discovery. Therefore, it is essential for regions identifying and supporting entrepreneurial discovery processes and initiatives. Thus, the aim of this paper is twofold. First, making advance in clarifying the concept of entrepreneurial discovery both in theoretical and practical terms. Secondly, establishing a set of recommendations on the role of entrepreneurial discoveries within a smart specialization strategy and more specifically, the requirements for policies in order to be able to identify and support initiatives and processes of this nature.