shown that academics are essentially motivated by learning opportunities, fundraising and satisfaction derived from puzzle solving in research activities, our paper provides evidence of the positive role of an additional motivation for both the breadth and depth of KT: the extent to which the academic scientist advances the societal role of universities ("mission" motivation). We find that both "funding" and "mission" motivations have a positive effect on the variety and intensity of KT activities, with little effect for learning opportunities. Our results show also a higher effect of "funding" and "mission" on the depth of KT activities compared to their breadth.

Smart Specialisation (S3) is a place-based industrial strategy which forms the major component of the European Union's 2020 Innovation policy (RIS3). Lagging regions, however, lack the technological capabilities and networks to fully participate and benefit from RIS3. Extra-regional collaboration offers lagging regions opportunities for technological upgrading to overcome this deficit. Using patent data for EU NUTS2 regions, we find extra-regional collaboration raises innovation in lagging regions, although collaborations based upon technological relatedness might be less effective, compared to advanced regions. This has implications for the design of policies to engender extra-regional collaboration and their alignment with RIS3 initiatives.

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At the heart of the European Union's innovation policy is Smart Specialisation Strategy (S3) as embodied in the Research and Innovation Strategies for Smart Specialisation (RIS3) programme. So far, RIS3's efficacy on the revival of so-called lagging regions has been weak. This is in large part due to the weak initial endowments of technology, social/business networks, poor governance and institutional failures that typify lagging regions. This combination inhibits both the effectiveness of the programme and the ability of lagging regions to take advantage of the new opportunities proffered by Industry 4.0. This paper highlights some of these challenges and presents some policy directions for S3 and Industry 4.0 to deliver better regional cohesion and enhance inclusive growth.

The crisis has if anything shown that myopic views satisfying short-term interests cannot be the basis for sustainable economic policies. Rather, this paper calls for a more holistic approach to understanding and developing industrial policy and develops a tool to view such policy initiatives. This 'sundial' is based on four main pillars: entitlements (seen here as the right and capability of individuals to take part in the learning processes