Smart Specialisation Implementation Processes in the North : Lessons Learned from Two Finnish Regions

The smart specialisation concept, aimed at generating unique assets and capabilities based<RV>on a regions industry structure and knowledge base, is currently widely implemented across<RV>Europe. The literature on the implementation of regional smart specialisation strategies is<RV>not, however, abundant. This article introduces the practical implementation of smart specialisation<RV>processes in two Finnish regions: Ostrobothnia and Lapland. The article analyses<RV>similarities and differences in the smart specialisation implementation processes in different<RV>regions within the same national context, and also analyses what is really new in the<RV>two smart specialisation strategies. The findings indicate that implementing regional smart<RV>specialisation strategies is a challenging and time-consuming exercise. They also suggest<RV>that the key concepts associated with smart specialisation have not yet been fully adopted<RV>by the regions. In order to fully implement the smart specialisation strategies, regions need<RV>to dedicate enough time and resources to the implementation phase.