Within the framework of the Europe 2020 strategy programme, Smart Specialization Strategy is a new regional policy concept stimulating smart growth by creating the necessary framework for a well-performing national/regional research and innovation system. It defines a fresh strategy process that ensures smart investment and a more effective use of public funds.

The Smart Specialization Strategy (S3) rationale reflects the need for Regions, to concentrate resources on the most promising areas of comparative advantage – in other terms to become specialized e.g. on existing or emerging sectors and cross-sectoral activities, specific clusters, eco-innovation, key enabling technologies, high value-added markets or specific research areas. As such, national and regional authorities will have to develop specialization strategies.