Fostering Eco-innovation Through Smart Specialization Strategies and Support of EU Funds

Sustainable growth is increasingly related to the capacity of regional economies to innovate and therefore is interrelated with smart growth. Eco-innovation is the factor that makes it possible to connect environmental and economic goals and link them to sustainable and smart growth, which are two of three pillars (aside from inclusive growth) of the Europe 2020 strategy. EU cohesion policy is particularly vital for mobilizing the potential of European regions to foster eco-innovation, and smart specialization (a place-based approach associated with that policy) can play an important role in this process. The aim of the paper is to analyze and assess the role of smart specialization strategies and EU funds in fostering eco-innovation on the example of Poland (the biggest beneficiary of EU cohesion policy). The research involves the analysis of primary sources, such as policy documents and legislation, and in the empirical section, is based on statistical data mainly from the reports of the institutions engaged in the implementation of EU cohesion policy. Although almost all Polish regions have emphasized the need to support eco-innovation, some of them have even indicated it as their regional specialization, this analysis of the actual use of EU funds proves the difficulties with implementation of those activities. It may be the result of low innovativeness of the economy as innovative and eco-innovative potential are closely related. Moreover, the concept of smart specialization should be properly interpreted and implemented, then it can be an opportunity for the development of eco-innovation in Polish regions.