This project addresses a core concern of policy-makers across Europe of how regions can prosper in the rapidly changing global economy. Faced with increasing competition from low-cost producers, the answer for most regions in Europe is the development of a knowledge-based economy – a strategy that is enshrined in EU strategy through the Europe 2020 agenda. This puts universities in a key role as promoters of innovation and regional development in most regions – as producers of new knowledge, of a highly skilled workforce, and as transmitters of knowledge to firms, policy-makers and the general public. In assuming this role, universities are taking on a mission to contribute to innovation and knowledge-based economic development in their regions. Universities are increasingly representing key arenas linking local innovation and learning communities to global production and innovation networks. In this project, we focus on the various ways in which universities may strengthen the capabilities for innovation in firms and regions through providing new knowledge, building interregional networks and taking on broader developmental roles.
The findings emphasise the multi-faceted nature of the role of universities in innovation and regional development. Universities engage with various societal stakeholders, including firms, regional governments, voluntary associations, and citizens. They contribute not just to technological innovation, but also service, public sector, and social innovation. In many cases, universities partner with regional governments to develop regional innovation and development policy, such as smart specialization strategies. They interact for research, to provide education, and to perform broader third-mission activities. Furthermore, universities are themselves loosely interlinked institutions consisting of relatively autonomous actors. They comprise academics, students, administrations, and senior management. These actors may have different interests and contribute independently to regional innovation processes. Hence, analysing universities as singular entities may not be appropriate.