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Although Lancashire has experienced sustained economic growth, the area's economic performance consistently lags behind UK and neighbouring competitor locations. With insufficient levels of research and development in the SMEs, Lancashire needs to capitalise on local innovation and R&D assets to maximise innovation, promote R&D, invest in research and innovation infrastructure and share innovations with commercial potential to promote higher value economic growth. For this reason, the main goals of the measure are:
It is very important for the success degree of the measure that the innovative ecosystem is strong and active. There must be also active innovation-oriented SMEs that need research infrastructures. Vice versa, a negative factor affecting the degree of success of the measure is the lack of specific smart specialisation areas in which the territory has a competitive advantage.
In implementing this type of measure, regional stakeholders must have an ex-ante analysis of the economic picture of the territory. They need to investigate the gap emerged from this analysis and then decide what kind of actions must be taken. It must be avoided to focus only on economic indicators but regional stakeholders must rely also on indicators about innovation. In fact, it is quite important have an overall picture of the economical and innovative ecosystem.