Edited by V. Heyets; National Academy of Sciences of Ukraine. Ishchenko, A. Innovative research universities as a factor for the modernization of the educational-scientific sphere and the building of a knowledge society. Analytical note. National Institute for Strategic Studies. Nepelski, D. Organizational diversity and innovation potential of EU-funded research projects. The Journal of Technology Transfer. Nowak, A. Strategic Flexibility of the Research University's Leadership. Interdisciplinary Journal of Economics and Business Law, 7 3 , — Resolution of the Cabinet of Ministers of Ukraine Salmi, J.
The challenge of establishing world-class universities. International Higher Education, Saunila, M. A conceptual framework for the measurement of innovation capability and its effects. Baltic Journal of Management, 7 4. Shumpeter, J. English trans. Kyiv: "Kyiv-Mohyla Academy" Publishing house. Sitnicki, M. The influence of innovation potential on enterprose strategic flexibility. Ukrainian Statistics, 1.
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Development of a Model of Digital Research Universities. Baltic Journal of Economic Studies, 4 1 , — Strategic Management of the development of Research Universities: monograph. Kyiv: Publishing House Lira-K, p. Stadnyk, V. The need to accomplish these standards is an important channel inducing learning; lead firms impose on their suppliers the pressure to innovate and to keep up with technological advancements, but they are not directly involved in the learning process.
In other words, the lead firms represent a crucial external stimulus for the learning and innovation process of suppliers, being a spectator and a final judge of this process. Firms involved in modular chains need to undertake highly specific investments, build specific production capabilities and constantly update them to enter and stay in the GVC. Nevertheless, they need to exert their learning efforts by themselves, as they are hardly supported by GVC leaders.
As reported by Quadros , in Brazil in the GM and Volkswagen GVCs local suppliers have improved their quality standards of production and achieved ISO certification, but leading firms in the chains have spent minor efforts to assist suppliers in the adoption of these standards. Similar evidence is also observed in the automotive sector in Argentina Albornoz et al. Given the high complexity of tacit information and knowledge transferred, in relational chains the linkages are very tight, often implying a lot of face-to-face interactions and mutual learning.
In this type of chains, firms have highly complementary competences.
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LDCs suppliers should hold and be able to strengthen their production and linkage capabilities to interact with the lead firms in the GVC. The learning efforts needed imply sunk costs and take time, and this binds the parties to continued interaction, i. According to Gereffi et al. Another interesting case of local suppliers that have progressed from producing to the specification of their buyers to their own design manufacturing is presented by Kishimoto in his study on the Taiwanese computer industry.
Analysing the same case, Guerrieri and Pietrobelli emphasize that from MNCs to local suppliers the knowledge is mainly transmitted through the supply of blueprints, the interaction of personnel and the transfer of tacit dimensions of technology creation. Thus, Taiwanese firms often participate in more than one GVC. This process has been fostered by the activities of intermediate institutions — match-making the interests of small and large firms — and by the active role of the local government, enjoying the authority and credibility to negotiate with large firms better linkages and collaboration with SMEs Villaschi et al.
In captive chains, lead firms actively intervene in the learning process of suppliers that lack the competences required. Their support is usually confined to a narrow range of tasks — for example simple assembly. The case of the shoe industry in the Sinos Valley in Brazil Bazan and Navas-Aleman, ; Schmitz, is an exemplification of how inclusion in GVCs can facilitate product and process upgrading but prevent functional upgrading, leaving firms dependent on a small number of powerful customers.
In the Sinos Valley, local shoe suppliers were discouraged from engaging in design, marketing and sales because these are the core competences of the US buyers, the leaders of the main GVC. Brazilians have been feeding into the footwear value chain mostly as producers, and their buyers have been more than happy to keep the status quo. In this regard, Schmitz makes an important point explaining that over time the direct involvement of US buyers in assisting the product and process upgrading of Brazilian shoe producers diminished: initially in the s most of the support came from US specialised technical staff, who was gradually replaced by local staff and moved to China in the s, because the risk of supplier failure was much higher there at that time.
In fact, in this case functional upgrading in design, branding and marketing, prevented by US buyers, has been achieved by those firms selling to buyers in the domestic and regional markets in Latin America. A similar process of transferring experiences from one chain to the other has also been detected among the Mexican footwear producers selling in the domestic market and in some cases also in the rest of Latin America Rabellotti, Finally, at the opposite extreme of the typology is vertical integration, where the lead firm takes direct ownership of some operations in the chain. This turns out to be like the case of the intra-firm trade between a trans-national company and its subsidiaries, implying various potential mechanisms of learning, widely analysed in the literature on FDIs in LDCs, such as transfer of management, skilled labour turnover, training of local workforce, knowledge spillovers and imitation Barba Navaretti and Venables, Innovation systems and their role in a GVC perspective The GVC analysis suffers from a significant shortcoming because it does not pay much attention to the institutional context within which local firms interacting in GVCs are embedded.
This limitation has been rightly stressed in the literature on Global Production Networks GPN which deals with how actors in various GPNs are embedded in different places, including therefore the geographical dimension from the national to the local scale Ernst, , Hess and Yeung, The work of geographers and planners on local industrial agglomerations has also stressed the spatial embeddedness of tacit knowledge and the importance of tight interdependencies between geographically clustered firms Storper, At the national level, the relevance of rules, values and institutions e.
Berger and Dore, These institutions and these organizations may have profound effects on value chain governance and on the appropriate innovation and learning strategy of firms in developing countries. In this section we try to integrate the two approaches discussed above to address the issue of the role that innovation systems may play within the GVC-driven learning and innovation process in developing countries. Our focus is on two aspects of innovation systems: technology policies and technology organizations. This partly differs from industrial countries — as noted above — where the emphasis lays much more on basic research and creation of new knowledge.
These organizations may be government-run, started by the government but run autonomously, or started and managed by industry associations or private actors.
In developing countries, government-run organizations often play a leading role, given the weakness and precariousness of the private productive sector. Quality, standards and metrology institutions provide the basic framework for firms to communicate on technology and keep the basic measurement standards to which industry can refer. Extension services help overcome the informational, technical, equipment and other handicaps that SMEs tend to suffer.
The provision of these services faces market failures of the sort that every government, regardless of its level of development, has to remedy. How do different innovation systems affect the determinants of GVC governance? The relationship between the form of governance and the nature of the system cannot be univocal one-to-one , given the variety of possible systems and the endogeneity of most of these events, with frequent two-way directions of causality and continuous feed-backs.
In other words, the lower the complexity of transactions the less an effective IS is needed - but an effective system also raises the capabilities to cope with complex transactions. When investors take make-or-buy decisions, they face a trade-off between lower costs of production and increasing transaction costs.
In countries with weak institutions, implying weak contract enforcement, pervasive corruption, cumbersome bureaucratic procedures, multiple barriers to trade and poor infrastructure it is difficult to capitalise on the benefits of inter-firm specialisation Altenburg, a. The weaker the institutional framework is, the costlier and riskier will be contract enforcement, inter-firm coordination and transactions will be more difficult and therefore convenience tilts towards non-market forms of governance, and possibly up to vertical integration.
More specifically on science and technology, if the system offers efficient and homogeneous standards, testing, and quality assurance institutions and organizations, the costs of technology and learning-related transactions will be lower and easier and smoother will be the relational forms of governance.
The experience of Taiwan in the industrial and technological development of its firms and clusters offers insightful examples of an innovation system supporting the transition from hierarchy and captive chains led by foreign leaders to local innovation, functional upgrading, domestic firms-led value chains. Clearly, there is simply no single best way to organize an innovation system, and it is the different forms taken by IS that determine different effectiveness.
However, if complexity increases, most enterprises in developing countries are likely not to have the internal skills and capabilities to operate within a context of codified transactions. The innovation system may enhance their efforts, and especially the metrology, standards, testing and quality MSTQ infrastructure.
MSTQ institutions form the basic infrastructure of technological activity in any country. Standards are a set of technical specifications used as rules or guidelines to describe the characteristics of a product, a service, a process or a material. The use of recognized standards and their certification by internationally accredited bodies — and sometimes by GVC leaders themselves - is increasingly demanded in world trade.
Metrology the science of measurement provides the measurement accuracy and calibration without which standards cannot be applied. The application of standards and the certification of products necessarily imply accredited testing and quality control services. In recent years, the importance of industrial standards has risen because of the fast pace of technical progress, the growing complexity of new products, the increasing multiple use of technologies and the growing fragmentation of industrial activities.
Therefore, standards importantly contribute to the diffusion of technology within and across industries.
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Redundant experimentation with new technologies is reduced, and enterprises are forced to use a common language that is also shared by the international market. In turn, this reduces the complexity of inter-firm technical linkages and collaboration. Indeed, the better standards and metrology organizations are in a country, the easier it is to handle complex transactions and the easier it will be for a GVC leader to govern its web of local relationships.
In principle, modular and relational chains are more likely to prevail, provided that local suppliers are competent, understand and use technical codes and standards. The choice of either form may in turn depend on the different degrees of codificability of knowledge. Standards increasingly matter also for natural resource-based activities. Thus, for example, in Southern Chile a very successful salmon cluster has developed since the early s, and the study of the standards setting and compliance processes offer remarkable insights Katz, , Maggi, In this process, a meso-level institution, the Association of Chilean Salmon Industries, appears to have played a crucial role.
ISO certification has become an absolute must for potential exporters, signalling quality and reliability to foreign buyers, value chain leaders and transnational corporations seeking local partners and subcontractors. Local clusters and firm agglomerations may help increase the local generation of innovative processes and practices, and this may further attract GVCs and induce them to choose relational forms of governance. Indeed, several authors have shown that such agglomerations are the places where the most relational portions of global value chains might be found Sturgeon, ; Schmitz, They consist of the organizations in charge of education and technical training, as well as the set of incentives that induce individuals to further invest in improving their knowledge and competences.
While suppliers learn and improve their competences, the GVC governance is also likely to change accordingly. In very general terms, we would expect that increasing capabilities in the supply-base help to push the architecture of global value chains away from hierarchy and captive networks and toward more relational and modular chains Gereffi et al. An example of the possible local interactions between technical competences, the IS and value chains is provided by the states of Jalisco Mexico and Penang Malaysia , where strong local systemic coordination has produced human capital synergies in two of the largest electronics clusters in emerging economies Rasiah, This situation has not attracted or produced higher value-added segments in value chains and the consequent horizontal integration necessary to drive regional synergies to higher levels.
The chain leader may MSTQ organizations High codification compensate system weknesses, but 4 Captive matter upgrading is restricted. It has been suggested that lead firms should be involved in the design and implementation of policies Altenburg, a, Pietrobelli and Rabellotti, This is a reasonable proposal that could find a specific application in the joint definition and to some extent implementation of training programmes and university curricula on the basis of the needs expressed by leaders and local suppliers. Learning across different chains innovation systems may help The literature has shown that noteworthy learning mechanisms also occur across different value chains.
Innovation systems may also help in this regard. As a matter of facts, this often happened in Taiwan in the s, where Taiwanese firms, embedded in a developed IS, often participated in more than one GVC Guerrieri and Pietrobelli, , and leveraged competences across chains Schmitz, This has also happened in the Sinos Valley, where suppliers could learn and employ different competences by working with two or more VCs. Within this domain, public policies may sustain diversification of value chains and mechanisms of learning from one chain to the other.
We have started to sketch some possible forms of interactions and mutual effects. More analytical and empirical research may draw further light on these issues. Conclusions Questions have been raised over whether the spatial embeddedness of learning and knowledge creation might be challenged by alternative organizational forms. The Global Value Chain represents one of the most common options for small suppliers in LDCs to get access to international markets, to updated knowledge, innovations and new technologies.
The attention on the different patterns of governance regulating the relationships among actors in the chains has pushed some scholars to put forward a theoretical framework to help explain why one form or another may prevail. The five types of global value chain governance - market, modular, relational, captive and hierarchy — proposed by Gereffi et al.
The first main message here is that the different characteristics of the value chains have an impact on the mechanisms of learning prevailing in the chain. In general, LDCs firms learn and innovate thanks to their participation in the GVCs because they have to satisfy the requirements in terms of product quality, delivery time, efficiency of processes, environmental, labour and social standards imposed within the chains. Nevertheless, the learning mechanisms can be very different in the various types of chain: it can be the result of the pressure to accomplish international standards or it can be facilitated by a direct involvement of the chain leaders when the competence of suppliers is low and the risk of unsatisfactory compliance is very high.
When the competences among actors in the chain are complementary, the learning mechanism can be mutual and based on intense face-to- face interactions. Finally, other channels of learning prevailing in the two forms of governance at the opposite extremes of the typology — market and hierarchy — are those widely analysed in the economic literature as knowledge spillovers and imitation.
A number of additional implications have been documented in the literature. The diverse morphology of the basin is an important sustainability factor that regulates the fishing activity as well as the impacts of future MRE projects in the entire region. Fishing in the MS may take place on the continental slope, while, most usually, is concentrated in depths up to m and in nearshore areas Piante and Ody, ; Food Agriculture Organization of the United Nations, Therefore, the installation of OWFs is less likely to be in conflict with these activities.
Nevertheless, each area has its own particularities, obstacles and difficulties as well as strengths and opportunities may vary depending the case. Potentialities and opportunities e. See also Boero et al. In the recently published review United Nations Conference on Trade Development, , the significance of the maritime transport is highlighted. As it is mentioned in Piante and Ody , hundreds of these activities are taking place in the waters of MS and therefore maritime transport presence is intense in the area.
Also, some indicative and self-explanatory numbers, regarding maritime sector in the area of MS, could be the , direct jobs provided and the noteworthy participation of 21 ports in the list with the world top ports. Maritime transport is not an opposing activity to MRE development; on the contrary, maritime transport sector with ports at its center is bringing revolutionary ideas in harnessing MRE sources.
Following the maturation of OWE and taking advantage of the declining costs, ports have started to transform their infrastructures in a way to support OWE and the entire supply chain contributing thus to cost reduction and efficiency Wind Europe, For instance, large available spaces, found mostly in the yard, can be either used as warehouses or for training purposes staff, visitors, etc.
Furthermore, their location facilitates the transportation of large components, avoiding not only a huge transportation cost but also many other incurred risks related to transport. Evidently, MRE can be used in ports for cold ironing 3 purposes, while ports are expected to play a key role in MRE development, as they are becoming breeding grounds for blue technological innovation. Overall, MS space can be exploited in many efficient ways, if a certain MRE mentality is to be adopted in its activities.
It is also essential to explore the nature of the value chain mechanism that governs these activities in order to estimate correctly the range of these opportunities. Value chain analysis focuses on the examination of the core and supportive activities of a project in an effort to understand costs, locate the activities that contribute the most in the generation of adding value, and differentiate the project from the competition.
It facilitates the search for synergies among sectors of different, but related, market subjects while it also provides a measurement to the stakeholders, as regards the externalities developed among sectors to the local and regional economies. Thus, it sets a basis for discussion around controversial issues and targets that should be met in the future.
Considering a particular BE project, e. The intervention of other actions, such as interpretation of regulatory frameworks, financing plans, risk assessment, logistics, etc. This extensive BE value chain analysis, along with the identification of potential key players in the field, leads to the pathways for clustering aiming at the prompt and rational organization of all actors that will be involved.
In an environment where the demand for renewable energies, and especially of BE, is continuously growing, a new strategy plan is adapted in the EU member countries. The pillars of this plan are based on the synergies among different stakeholders involved in the BE value chain. The necessity of fostering teamwork and collaboration in and between companies and institutions has been described by many economists as the primordial factor that determines their competiveness and innovation level.
Clusters are considered the most practical and profitable formations under which a large variety of marine-related sectors could be implemented. Moreover, the idea of clustering is entirely harmonized with the vertical integration concept, which drastically changed the status quo of economy in the early 20's. Until today, it continues to dominate the majority of economic activities. Economies of scale, outsourcing plans and value adding activities are the most eminent features of its application. In an era where the shifting nature of competition is increasingly driven by knowledge and skills, clusters play a fundamental role in the dissemination of knowledge and innovation, and the accumulation of skills.
In this way, clusters represent the dedication to expertise as a rational alternative to low cost labor and low quality solutions. Usually clusters emerge spontaneously triggered by a major event, turmoil, necessity, etc. The question that arises here refers to whether this spontaneous creation of clusters, responding to market signals, should be left to develop naturally.
In our opinion, the potential accumulation of benefits from positive externalities previously distinguished creates a strong rationale for cluster policy that should regulate the activities of a sustainable renewable energy cluster. Given that there is no international instrument to cope with all potential elements of energy governance in the context of a cluster Steffek and Romero, , it is more probable to face a multi-level governance system extending in overlapping areas Goldthau, since i MRE's regulation is spread across various areas of international and national law; ii diametrically opposed interests are arising from the implementation of institutional arrangements, and; iii main actors in the RES landscape are often geographically widely dispersed and isolated as regards potential collaborations Jaegersberg and Ure, Recently, the orientation of clusters has been significantly altered.
The renewable energy market with its dynamic changing business landscape is becoming more competitive and less predictable at the same time. Obviously, it becomes imperative for policymakers to be aware of existing obstacles and opportunities on time in order to create the conditions for the prosperity of a value added cluster.
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In macroeconomic level there exist, in theory, rational guidelines regarding issues that concern policies and strategies for the development of clusters e. However, when this knowledge is to be applied in more dynamic conditions, we come across with deficiencies of the theory and resistances in its implementation. As it is noted in Atkinson and Audretsch , the realization of economic value in clusters are affected by barriers and enablers on the ground.
The design and construction of cluster policy that confronts deficiencies could commence with the adoption of basic principles from a broader strategy in transnational level. Best practices already tested in a wider European extend, combined with the experience from the confrontation of recurring barriers identified in RES clusters, could provide useful guidance and should be seriously taken into consideration.
For instance, MSSD could be used as a starting basis for the smooth assimilation of sustainable development into the corresponding strategies of the Mediterranean EU member states. The provision of its tools and suggestions, under which interconnected levels of government are operating, could be a huge assistance in the formation of the cluster policy. The framework, shown in Figure 1 , is proposed as the backbone of cluster's policy formulation that will accompany any attempt for cluster establishment and maturation. Subsequently, useful lessons and experiences coming from recurring barriers will frame this scheme.
In this connection, issues that should be addressed originate from sectoral, institutional and legal limitations, referring also to environmental aspects and socio-economic challenges. An overview of the current socio-economic and environmental impacts along with guidelines for the sustainable development of MRE in the MS is provided in Soukissian T.
These impacts should be considered before delving deeper into the policy perspectives of BE. In real world, recurring barriers are identified in the majority of clusters. In this work emphasis is put on SME-related issues considering their important contribution to job and wealth creation. A better understanding of the linkages between stakeholders is of critical importance in order to extract valuable conclusions for the design of cluster policy and functioning. As it is noted in Jaegersberg and Ure , the identification of recurring barriers is clearly expressed through paradigms of different renewable energy clusters.
This is necessary in order to understand the issues that arise in different contexts and highlight their value creation in clusters. Unfortunately, value creation is currently not receiving the appropriate attention from policymakers. Even some of the examined clusters are out of Mediterranean region, their contribution to define the first steps of cluster policy is decisive. The following examples are analytically discussed in Jaegersberg and Ure The most important difficulty was due to the restricted opportunities for SMEs to engage constructively with other stakeholder groups.
The Canadian Case in Alberta pictures the attempt of an early stage RES cluster to compete against well-established companies that produce electricity via fossil fuels in a supposedly liberalized electricity market. Incentives such as Feed-in Tariffs FiTs and quotas were absent in Alberta whereas neighbor regions were providing more favorable investment regimes. The differentiation in energy policies along with the cost efficient production of energy from oil and gas producers created harsh conditions for the cluster. The main problems that the involved SME's identified, referred mainly to the uneven level playing field, through unfair competition between RE and oil and gas companies, bureaucratic issues, shortage of long-term policy and of expertise in the sector of renewables, and the limited participation of SMEs in decision making procedures.
The German PV cluster faced recurring barriers of economic nature. The cluster was initially rapidly grown driven by the mechanism of FiTs and special funding programmes and Germany met a record rise in installations. A remarkable augmentation in the demand of solar panels though had a major effect in cost, enough to signal a governmental adjustment in the framework of FiTs. Combined with the increasing competition from China and low-labor countries, SMEs found themselves disproportionately penalized at the forefront of innovation.
Eventually, there was a significant distortion of the market as a result of cheap imports and that Chinese companies took advantage of the less restrictive environmental standards and regulations, and the cheaper labor costs. In Figure 2 the main necessities for an efficient legislative policy are summarized: 1 a joined up policy that should encompass a holistic framework, which caters the interest of individuals and the alignment of interest of the involved stakeholders, and 2 the minimization of bureaucracy, leading to simplification of procedures and equal distribution of power among the shareholders.
Lack of joined up policy and bureaucracy resists tightly to any positive change due to deep rooted habits and mechanisms. Clusters need to become accustomed with new ideas and business models in order to face key aspects of legislative issues concerning mostly the lack of joined up policy and the delays faced in its implementation. The most profound problem concerns the willingness of national and local authorities to adapt in these new business models, which make the whole process more cumbersome.
Their arrangements, laws and actions are often hindering the smooth operation of necessary activities toward BE growth by causing conflicts of interest overlapping issues, etc. Another problem concerns the interests of disparate groups, often intensified in early stage clusters where the collaboration scheme involves different administrative bodies. In this direction, the efficient revision of national, and at a next phase transnational, policies and the integration of environmental, socio-economic, technical, and legislative considerations into a single holistic framework is necessary.
Although harmonization and integration of regional, national and transnational policies is not easy, it is of crucial importance in order to mitigate the above-mentioned problems. A legislative and regulatory infrastructure aligning the different interests and point of views, and assessing all the political ramifications is complex to be designed and hard to synchronize.
Realistic and necessary steps in facilitating a joined up policy that boosts MRE development in the area are the following: 1 governance support; 2 centralization and decreasing of the permitting bodies to the less possible number; 3 composition of a comprehensible document which summarizes and simplifies the licensing and permitting procedures, and; 4 countenance of activities that promote synergies among European stakeholders improvement of regulatory frameworks, creation of platforms, coupling of private and public sector through partnerships.
For a discussion on these issues see also Soukissian T. Legislative gaps and delays of the kind described in the case of Portugal cluster constitute a considerable barrier to cluster performance. Cumbersome bureaucratic issues are frequently encountered during different stages in the implementation of a MRE project. Companies' efficiency is closely dependent on the degree they can surpass these issues. However, as it is noted in Garbe et al. A conclusion from the study of RES cluster cases is that bureaucratic issues are often being created by default, rather than by design or intension.
Newly created clusters or clusters with high participation of SMEs in their composition are characteristic examples of this situation. For example, in Portugal, bureaucratic procedures excessively impacted SMEs that participated mostly in system installations. Additionally, a lot of SMEs with tight margins found difficult to dedicate time and resources to fulfill administrative tasks and also to apply for funding. Finally, there are cases, like the Canadian one, where SMEs felt that the design of the cluster and the process itself was not created based on their needs, leaving hints for un-even competition and distortion of the market.
Science is a prominent key to success; sometimes, however, it is mistakenly sidelined by other relevant or irrelevant activities. In other words, innovation policy attempts to influence and shape activities, often with the purpose of increasing economic growth. The main constituents of innovation policy are summarized in Figure 3 , which depicts the sequence of actions that should be followed.
Initially, a long-term, efficient and stable funding strategy will enhance for granted collaborative schemes and will benefit the creation of new jobs. This collaboration, in turn, implies the existence of certain places, such as online platforms, equipped with effective tools that are working toward both the facilitation of those initiatives and the interaction with the societal part. Clusters that inherently support regional cooperation between diverse innovation actors, provide a favorable ground in which objectives set from the aforementioned consultations could be applied.
Barriers and challenges also identified will help to detect the actions needed in order to develop a rational, cluster-based, innovative policy. In the medium term, clusters act as efficient platforms disseminating the good practices and maybe even later could be used as a guideline for the design of transnational innovation policy. To start with, the concentration of key players with high experience in the BE sector shall be at the top of the agenda of this innovation system.
The absence of a long-term funding plan, apart from the oncoming insecurity and instability to the concerned parties of a RES project investors, scientists, institutions, SMEs, etc.
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Another important issue that innovation policy has to deal with is that the existing practical knowledge and scientific findings are rarely concentrated in one database or platform, rendering it inaccessible to many stakeholders. However, as stated by Jaegersberg and Ure , the reality is hardly ever that ideal. Instead of generating shared value, it was noticed that the connection between universities and SMEs formed barriers in key areas like the German case, where universities were perceived having dissimilar goals and operation procedures from SMEs.
Clearly, incentives and ways of working together should be cultivated as well as a transfer-knowledge platform must be created. Directly intertwined with the necessity of an online platform is the construction of a business tool that allows timely feedback to those developing and applying policies. A successful innovation strategy should look after for the settlement of more qualitative targets clearly expressed in the Europe strategy structured to create new job offers and to deliver a sense of direction to the society.
Job offers seem to be achieved through voucher initiatives, recently gaining space in many countries, with the following two-fold impact: i permitting SMEs to share their problems related to innovation with knowledge providers, and; ii providing incentives to public knowledge provider to collaborate with SMEs. Finally, the innovation policy should necessarily deal with the problem of social acceptance.
Again with the contribution of governance support, innovation must ensure the supply of high educated citizens. Informational campaigns and training platforms must be designed in an attempt to raise environmental awareness of the local communities. A certain feedback through socio-economic surveys, during the design phase of MRE projects, along with public consultation procedures should also be adopted. Most of cluster's efforts have instinctively focused on finding effective financing tools to ensure the diversification and health of their economic activities.
During the last decade, many researchers have tried to spot the hindrances encountered by RES projects in getting and appropriately managing funding. Specifically, a great mix of problems takes place such as lack of experience in terms of scientific research, new types of sponsors and business models, rendering private investors reluctant to fund innovative projects. The organization of a financial policy around clusters is a challenging task. It aims to elucidate topics related to funding instruments and regulate governmental resolutions regarding public-private partnerships, Foreign Direct Investment attraction plans, tax rebates plans, favorable bank loans, etc.
In this way clusters would become an organizing principle to integrate different economic policies, overcoming the obstacles that characterize each national economic policy. These issues have been also discussed in the financing strategy of MSSD —, where the allocation of funds and the mutual involvement of shareholders is underlined as the most beneficial action toward the implementation of the financing strategy directions. These actions may embrace the construction of projects' portfolios or even the organization of fundraising activities during capacity building seminars and workshops.
The Strategy also highlights the significance of the engagement between private and public sector. It also visualizes the creation of an independent investment facility that simplifies the economic framework by embodying many international institutions in an attempt to boost MRE investments. A steady economic environment favors investments and facilitates projects of greater scale and incentives. A transparent political scene committed to a long-standing relationship with RES, which leaves little space to uneven competition, is a prerequisite.
Market has detected the absence of a reliable mechanism able to reduce regulatory risks and cost of capital and hence, bring back confidence to its actors. Therefore, tax rebates plans and the issuance of power purchase agreements, for countries where no FiT system exists, are measures of critical importance. Perceived risks of investors are necessary to be abridged. Ideally these proclamations will be used as inputs in tools like Eye RIS3, giving a general guideline to the innovation policy.
Finally, clarity, simplification, transparency and equal access to information is a challenging task taking into consideration the extended coordination required in a multi-institution level. To qualify a financial policy as stable, a plan, full compliant with legislative policy, is imperative. The type of MRE, as well as the stage of development of the technology, will determine the choice of the most suitable financing instrument.
Special reference is made to the SME instrument and the financing directly from the energy market. With around 4, SMEs being selected to receive funding the last three years of its implementation, it can be considered the dominant financial instrument for SMEs. SME instrument. SMEs, either based in EU or established in a country related to H, have the potential to get funding for their innovation projects. Its aim is to give an innovation boost to the existing market and disseminate the projects' outcome in an international level.
Related Innovation System Frontiers: Cluster Networks and Global Value
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