Smart Specializing Strategy.

This Strategy primarily focuses on the evaluation methodology aligned with the Guide to Research and Innovation Strategies for Smart Specialization (RIS3) and aims to assess the economic potential of various sectors. It is an economic development strategy that envisages that research and innovation resources are purposefully focused on those areas of knowledge specialization where the country has comparative advantages or there are assets on the basis of which such advantages can be created. It operates within the broader context of enhancing Latvia's economic structure towards higher productivity. Key legal principles include the need for a structured approach to research and innovation investments, emphasizing the importance of aligning these investments with specific industry needs and the overall economic strategy. Three annexes are attached to the draft Smart Specialization Strategy: (a) knowledge capacity assessment; (b) assessment of the export potential of economic sectors; and (c) results of the entrepreneur survey.
The document outlines several critical measures, including raising minimum criteria for the existence of scientific and research institutions, which involve benchmarks such as the number of PhDs, revenue, and the percentage of applied research. It also recommends discontinuing funding for institutions that do not meet established results. Additionally, it advocates for the integration of scientific institutions based on territorial and excellence criteria to optimize costs and enhance collaboration. Funding should be allocated to larger entities like competence centers and consortia, evaluated against various criteria such as revenue and international collaboration.
The implementation plan emphasizes the need for a clear framework for monitoring and evaluating progress in achieving the objectives set by the National Innovation Program (NIP) and RIS3. It highlights the importance of direct discussions among industry representatives to refine research directions and project specifications. Secondary themes include addressing institutional challenges such as the shadow economy and the need for a qualified workforce, as well as the importance of stakeholder engagement in the research and innovation process.