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Smart services disrupt business models and have the potential to stimulate the circular economy transition of regions, enabling an environmentally friendly atmosphere for sustainable and innovation-driven growth of regions. Although smart services are powerful means for deploying circular economy goals in industrial practices, there is little systematic guidance on how the adoption of smart services could improve resource efficiency and stimulate smart regional innovation-driven growth, enabled through circular design. Implemented in the scope of Vorarlberg’s smart specialization strategy, this paper contributes to the literature on the circular economy and regional innovation-driven growth by assessing critical factors of the value creation and value capture implemented within the scope of the quadruple helix system. By identifying the main challenges and opportunities of collaborative value creation and value capture in setting-up smart circular economy strategies and by assessing the role of innovation actors within the quadruple helix innovation system, the study provides recommendations and set of guidelines for managers and public authorities in managing circular transition. Finally, based on the analysis of the role of actors in creating shared value and scaling-up smart circular economy practices in the quadruple helix innovation systems, the paper investigates the role of banks as enablers of circular economy innovation-driven regional growth and smart value creation.
Complementarities and synergies of quadruple helix innovation design in smart city development
(2020)
Increased urbanization trends are stimulating regional needs to support transitions from urban environments to smart cities, using its holistic perspective as a source to innovation. Strong relations between smart cities, urban and regional development, are getting increased attention both at policy and implementation level, providing fertile ground for execution of the new European policy frameworks that supports quadruple helix approaches to innovation. Smart specialization strategies (RIS3) encompass such initiatives, placing ICT and collaboration between academia, industry, government, and citizen at the center of urban innovation. However, there is still lack of research on effects of such approaches to innovation, involving both quadruple helix clusters and ICT in utilizing innovation potentials for developing smart cities. This study aims to increase the understanding on how quadruple helix urban innovation strengthens competitiveness of regions by improving its local smart areas – RIS3. We identified smart specialization patterns and applied comparative benchmark between nine smallmedium sized urban regions in Central Europe. Building on these results, the study provides an overview of the effects of RIS3 strategies implemented through quadruple helix innovation clusters on competitiveness of regions and Smart City development.