Innovation Regional Policy and Smart Specialization: European Countries and Ukraine

The successful implementation of smart specialization strategies in the EU regions (more than 120 strategies) has been the key to their popularity in Europe and outside. The advantages and disadvantages of implementing smart specialization strategies in new conditions are investigated. The main obstacles to the effective implementation of RIS3 policy have been identified. Studies have shown that the innovation policy of the regions should be more focused on the heterogeneity of the regions, taking into account not only their specialization but also the level of development. The RIS3 experience is being adopted by countries around the world. The advantages and disadvantages of using smart specialization strategies in countries with different levels of economic development are shown. The process of implementation of smart specialization strategies in Ukraine is studied. The main challenges and opportunities for further transformation of the RIS3 concept into Smart Specialization Strategies for Sustainability have been identified.