On the Issue of Assessing the Potential for Applying the Conception of Smart Specialization in Ukraine (Case Study of Cherkasy Region)
Kryvoruchko M. Y.

Kryvoruchko, Mykhailo Yu. (2025) “On the Issue of Assessing the Potential for Applying the Conception of Smart Specialization in Ukraine (Case Study of Cherkasy Region).” The Problems of Economy 3:105–114.
https://doi.org/10.32983/2222-0712-2025-3-105-114

Section: Regional economy

UDC 332.146.2:005.591.6:338.45/49

Abstract:
The article addresses the issue of assessing the potential for applying the conception of smart specialization in Ukraine, using the Cherkasy Region as an example. This study involved the use of methods such as generalization, systematization, analysis, synthesis, as well as monographic and tabular methods, along with the application of artificial intelligence (AI) tools. It is highlighted that smart specialization is an efficient tool for regional development, actively used in the design and implementation of the EU regional policy. The main goal of smart specialization is the economic transformation of a region based on «entrepreneurial discovery», which entails identifying unique opportunities to combine existing resources and the region’s competitive advantages. It has been determined that the «cornerstones» of this process are localization, prioritization, and the involvement of stakeholders – the State, business, academia, and civil society. Based on a synthesis of research results on the assessment of the implementation of smart strategies by the EU regions, it was concluded that these strategies are relevant and effective. Emphasis was placed on the fact that the most active role in implementing a smart specialization strategy belongs to government institutions and academia. It was noted that the process of developing and implementing smart strategies needs improvement, primarily through increasing the involvement of stakeholders such as civil society and business. It was stressed that when applying smart specialization as part of the regional development planning methodology, the Ukrainian context must be taken into account. Based on the available data for 2021–2023, it was concluded that the level of implementation of project ideas in the defined areas of the Cherkasy region’s smart strategy – «Innovative Agrotechnologies» and «IT Industry Development» – is low. Using the AI tool (Gemini), potential directions for smart specialization were identified that would prevent the «freezing» of the existing economic structure of the Cherkasy region and, instead, promote the pursuit of «entrepreneurial discovery». For the Cherkasy region, the following smart directions were determined: «Agro-Innovations and Biotechnology», «Information-Computer Biotechnology», «Industrial Leadership», and «Tourism and Creative Industries». It is recommended that further research focus on a more in-depth analysis within a specific direction of the Cherkasy region’s smart specialization, which involves using up-to-date data on the performance of economic entities.

Keywords: smart specialization, regional development, Cherkasy region, entrepreneurial discovery, economic transformation.

Fig.: 1. Tabl.: 13. Bibl.: 15.

Kryvoruchko Mykhailo Yu. – Candidate of Sciences (Economics), Associate Professor, Department of Economics, Finance, Accounting, Mathematical and Information Disciplines, Cherkasy branch of the Higher Educational Institution «European University» (83 Smilianska Str., Cherkasy, 18030, Ukraine)
Email: misha2005@ua.fm

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