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Kismet before Karma - the case for recognising an intermediate step in the journey towards Smart Specialisation / Louisa Huxtable-Thomas

Proceedings of the 17th interdiscplinary european conference on entrepreneurship research, Utrecht, Netherlands.

Swansea University Author: Louisa, Huxtable-Thomas

Abstract

This paper examines the origins of a Medical Technologies cluster in Wales and seeks to determine whether it is smart specialisation as defined by Foray et al (2009). This altered perspective results in a case for an intermediate step before entrepreneurial discovery. Smart Specialisation is describ...

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Published in: Proceedings of the 17th interdiscplinary european conference on entrepreneurship research, Utrecht, Netherlands.
Published: Utrecht, Netherlands 17th Interdisciplinary European Conference on Entrepreneurship Research 2019
URI: https://cronfa.swan.ac.uk/Record/cronfa51385
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Abstract: This paper examines the origins of a Medical Technologies cluster in Wales and seeks to determine whether it is smart specialisation as defined by Foray et al (2009). This altered perspective results in a case for an intermediate step before entrepreneurial discovery. Smart Specialisation is described as a region setting the innovation policy it deserves based on its resources, scale, and scope (Karma), what has happened in south Wales is instead dubbed ‘Responsive Interventionism’ (RI) and describes the timely and responsive creation of interventions over an extended historic timeframe that, when viewed retrospectively over a three to five year horizon, appear to be the lucky coincidence (Kismet). As well as identifying the fundamental elements of the theory, and introducing RI as an intermediate step, this study provides further empirical evidence for the increasingly expressed view (Davies et al, 2018; EC, 2014) that the timeframe for evaluation of interventions, and by extension the time horizon for associated policies in Wales, is a quarter of what it needs to be.
Keywords: Entrepreneurship, innovation, smart specialization, regional innovation, knowledge spillover, MedTech.
College: School of Management