Knowledge-Intensive Entrepreneurship and S3: Conceptualizing Strategies for Sustainability

Abstract

Smart specialization strategies represent public policy initiatives to develop regions based on new combinations of knowledge and industries. The aim of this article is to enrich the theory and practice of smart specialization strategies (S3) by integrating the conceptualization of knowledge-intensive entrepreneurship (KIE). We propose that knowledge-intensive entrepreneurship is necessary in order to specify how public and private support of KIE firms can be beneficial to develop new knowledge relevant to the fulfillment of specific sustainable development goals. We did so by further developing a conceptual model of innovation governance routines by integrating sustainability goals. We also illustrated our conceptual model through two case studies from the Swedish maritime cluster. By extrapolating from the combination of the conceptual model and two case studies, we make three propositions about the different strategic roles that KIE firms can play within a broader S3 policy setting, and in such a way as to promote sustainability-related outcomes.

Regional Smart Specialization: Microbusiness Impact

“…Most studies on SMART specialization are conducted within general analysis of regional innovation policies and strategies in the EU countries and their regions (Benner, 2020;Gebhardt& Stanovnik, 2016;Lepore & Spigarelli, 2020;Gifford & McKelvey, 2019). General approach of the EU Eastern cooperation is described in the paper of Prause (2014).…”

Product Newness, Low Competition, Recent Technology, and Export Orientation as Predictors for Entrepreneurial Growth Aspirations

“…However, it may be impossible for the firm to exploit business opportunities if the organization suffers from financial restrictions. To take advantage of business opportunities or to adjust business actions, entrepreneurs need to focus their firms on constant renewal and rethinking of the firm [20,[44][45][46][47][48] to increase their market niche through business innovation.…”

Promoting Future Sustainable Transition by Overcoming the Openness Paradox in KIE Firms

“…Firms create and diffuse innovations in the form of new technologies, products, services and business models and contribute to the creation of new markets and industries, all of which is necessary for sustainable transitions to take place [1]. Smaller innovative entrepreneurial firms-not least knowledge-intensive innovative entrepreneurial firms [2][3][4]-are especially important for sustainable transitions; this type of firm often pursues radically novel solutions and attempts to drastically change markets and industries [5,6], thereby making important contributions to technological development [7]. Entrepreneurs are also often driven by larger goals than just profits, including sustainable value creation [8].…”

“…Similarly, in the innovation public policy literature, Schot and Steinmuller [13] (p. 1563) described transition as the third framing of policy, requiring focus on "emerging and open-ended coordination in the process of working together towards transformative change", including experimentation in niches. A more specific line of literature, which we follow here, has analyzed how knowledge-intensive entrepreneurship and collective actions are needed in order to promote transition through collaboration [4]. These authors argue that sustainability requires knowledge-intensive entrepreneurship (KIE) firms, as these firms are needed to commercialize and diffuse the novel solutions and innovations developed by specialized knowledge generated through collective action.…”

“…This paper contributes to our understanding of how transition to a more sustainable future can be achieved by investigating the key issue of how to promote collaboration for innovation amongst multiple, diverse partners [1,12,13], from the perspective of KIE firms [4]. While the literature on sustainable transitions assumes and highlights the need for collaboration [1], there are currently few insights on how to stimulate collaboration that support appropriation of innovation.…”