@article{1b4bb2261d08447e90dd804a86608b49,
title = "Optimizing entrepreneurial development processes for smart specialization in the European Union",
abstract = "This paper demonstrates how the Regional Entrepreneurship and Development Index (REDI) can be used to optimize local entrepreneurial discovery processes, in a manner which can support smart specialization strategies (S3). While S3 industry prioritization is based on the identification of local strengths, regional improvement can be achieved by improving the weakest features of the local entrepreneurial ecosystem. REDI based suggestions are place-based and offer rationale for tailor-made regional policy interventions. We found that without optimizing the entrepreneurial ecosystem, the industry specialization alone may not be successful because of the inability of the ecosystem to nurture high growth ventures.",
keywords = "entrepreneurship, entrepreneurship policy, European Union, regional development",
author = "L{\'a}szl{\'o} Szerb and Raquel Ortega-Argil{\'e}s and Acs, {Zoltan J.} and {\'E}va Koml{\'o}si",
note = "Funding Information: All authors would like to thank Philip McCann, Attila Varga, and the anonymous reviewers for valuable comments on the earlier versions of this paper. The research was financed by the Higher Education Institutional Excellence Programme of the Ministry for Innovation and Technology in Hungary, within the framework of the 4th thematic programme “{\textquoteleft}Enhancing the Role of Domestic Companies in the Reindustrialization of Hungary{\textquoteright} of the University of P{\'e}cs.” and also supported by the grants from the National Scientific Research Fund of Hungary (OTKA/NKFI grant no. 120289). {\'E}va Koml{\'o}si also thanks for financial support of the EFOP project (EFOP‐3.6.2‐16‐2017‐00017) titled as “Sustainable, intelligent and inclusive regional and city‐based models.” The usual disclaimer applies. Publisher Copyright: {\textcopyright} 2020 The Authors. Papers in Regional Science published by John Wiley & Sons Ltd on behalf of Regional Science Association International",
year = "2020",
month = apr,
day = "16",
doi = "10.1111/pirs.12536",
language = "English",
volume = "99",
pages = "1413--1457",
journal = "Papers in Regional Science",
issn = "1056-8190",
publisher = "Elsevier BV",
number = "5",
}
