Regions play an important role in the global economy by driving research and innovation policies through a major tool, the Regional Innovation System (RIS). The RIS is a social system that encompasses the systematic interaction of the various organizations that comprise it, to improve local knowledge and innovation. It consists of interconnections of various public and private sector institutions, whose activities and interactions create, introduce and diffuse innovations. This paper outlines the methodology employed in developing and validating a mathematical model of Regional Innovation Systems, utilizing the system dynamics approach. To provide a demonstration of the aforementioned concept, the proposed model will then be implemented in the RIS of two specific regions in Greece, namely Western and Central Macedonia. Within this context, various policies will be formulated to modify the indicators of Smart Technology, with the objective of assessing their influence on the overall regional development of the aforementioned regions. The model focuses on the functional structure of the RIS, separating it in six diverse, interacting subsystems consisting of different components, captured by a total of 38 different factors which can be quantitatively assessed.

Innovation systems consist of different organisations from the quadruple helix, as well as the interactions and linkages between them. Smart technologies and ICT play a key role in the efficiency of systems. At the same time, regional scale is considered crucial for studying innovation in systems. However, the lack of many important data at the regional level compounds the efforts to study them. The paper proposes a novel methodological approach to the regionalisation of national-level indicators in order to address this issue. This is based on the model fit approach, using regressions to “regionalise” national-level indicators based on similar indicators that are available. The approach is tested on the data for Greek NUTS 2 regions and produces regional-level estimates for four innovation indicators, based on four available indicators that are found to be strongly correlated to them. However, the same approach can be used for any EU country or the whole of the EU. The results, their prospects for future research, and potential applications are considered. Overall, the availability of regional-level indicators is considered crucial for the formulation of impactful development policies.

Acceleration programs can have an effect on business advancement prospects by offering access to mentors and information, capacity building, connections and networks with corporates and startups, all of which contribute to increasing the chances of entrepreneurial success. This study explores the effectiveness of an acceleration program, implemented in the cross-border region of Greece–Albania, where there are limited similar business support initiatives. The survey conducted among participants in the acceleration program aimed at identifying key elements that can contribute to shaping entrepreneurial potential in the cross-border region offering preliminary insight to policy makers in designing relevant business support measures. There is common consensus among both cross-border populations that the acceleration program has helped them develop their business ideas. The study reveals the different types of business weaknesses the acceleration program helped to address in the two populations and key criteria perceived to be contributing to business development. However, acceleration programs effectiveness is affected not only by criteria internal to business and the markets but also by the entrepreneurial ecosystem conditions pertaining. In this respect, business acceleration program designs should be tailored to address particularities in the entrepreneurial environment so as to be effective and contribute to business growth.