Regional growth in the European Union hinges to a large extent on smart specialization, a new and exciting theme in economic innovation studies. Advances in the Theory and Practice of Smart Specialization illuminates problems that have stifled the implementation of smart specialization policies, such as unique regional constraints and the inter-dependent demands of economic growth and commercial development. Forward-looking and pragmatic, it provides guidance for developing smart specialization strategies both to those involved in European affairs and others grappling with regional innovation and economic development worldwide.