Cluster Policy and Smart Specialisation The Case of Bulgaria

Smart specialisation is an innovative policy concept which emphasizes the principle of prioritisation in a vertical logic and has attracted a wide interest in recent years, being implemented in many national technology and innovation strategies. Clusters are considered to be a major driver of innovation and competitiveness and for years, have been assigned a key role in various economic development strategies around the world. The paper looks at the interrelationship between clusters and smart specialisation. While clusters are an important building block of Smart Specialisation Strategies （$3）, cluster policies are also influenced by the concept of smart specialisation as they have increasingly started to target specific industries. The principal objective of the paper is to provide an overview and evaluation of the cluster policy pursued in Bulgaria during the last decade. The extent to which the country has used the principle of smart specialisation in its cluster initiatives is assessed. It has been argued that namely due to the lack of clear focus and prioritisation, Bulgaria＇s cluster policy proved to be highly inefficient. Finally, some policy recommendations for its improvement are put forward.