ENTREPRENEURIAL DISCOVERY PROCESS: METHODOLOGY AND BEST EUROPEAN PRACTICES

Abstract

The article highlights the methodology and best European practices for implementing the entrepreneurial discovery process as a key element of smart specialisation. It emphasises that one of the key elements in developing smart specialisation strategies is an interactive process of joint identification by stakeholders of the region's areas of specialisation and priorities for investment in research and innovation to transform the regional economy. This process has been defined as the «Entrepreneurial Discovery Process» (EDP), which should be based on an evidence-based and co-creational approach. It has been noted that the subjects of EDP are ‘knowledge creators’ representing enterprises and business structures, research organisations, higher education institutions, public administration bodies and other organisations. Over the years of its implementation, the EDP concept has been expanded: it is now considered a continuous «Open Discovery Process» (ODP), which is open to the widest possible range of stakeholders and uses a wide range of tools for co-creation of new knowledge. It has been concluded that the smart specialisation methodology emphasises the decisive role of key stakeholders and «ambassadors» both in identifying priority areas for territorial development and at the implementation stage. It should also be noted that the bottom-up EDP approach, which has been successfully tested in EU countries and regions, requires careful governance and planning. Therefore, in the context of the legal regime of martial law and post-war recovery in Ukraine, this calls for significant efforts to develop appropriate professional competencies among the stakeholders involved and to ensure appropriate advisory and methodological support from the expert and academic communities.