The Basque Government has begun to explain to Basque companies the priorities for specialisation in certain fields in which to carry out a large part of the public funding in R&D in which three meta-priorities are set: Advanced Manufacturing, Energy and Micro-bio-nano Convergence for Health. The development of a smart specialisation strategy is already a prerequisite for any country or region to be able to access the funding offered by major European projects.
Smart specialisation to compete in Europe
Smart specialisation is a European Commission strategy for each region to focus on the areas of investment in which they are most competitive and have the best chance of success. It is intended to be a public/private partnership process, and the thrust is not pure specialisation, but "diversified specialisation".
The ultimate goal is to promote a new economic model, a transformation that enhances and highlights the uniqueness of the business fabric of each region, respecting the plurality and diversity of their contexts.
Science, technology and innovation plan 2015-2020
The Basque Government had already planned the Science, Technology and Innovation Plan, PCTI-2015, with a strategy to diversify the Basque economy based on three technologies: biosciences, nanosciences and advanced manufacturing, and five priority markets: transport and mobility, digital world, science industry, ageing and health, and energy.
The foundations of the STIP establish five main objectives aimed at concentrating resources and investment in R&D&I:
- Contribute to employment and economic recovery.
- Balance the mix of research activity to correct the competitive disadvantage vis-à-vis other countries.
- Raise the level of efficiency of the Science, Technology and Innovation System by developing an integrated monitoring and evaluation system.
- Internationalisation of R&D&I to capture and generate new knowledge.
- Increase the number of companies that innovate to improve their competitiveness and sustainable development.
If you want to know more, do not hesitate to contact us, Abra-invest has a specialised public finance team at its service.
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