The objective of RIS3 is to identify the field of specialization where the Republic of Serbia achieves competitive advantages or potential. In order to maximize the effects of public investment, the identified areas will have increased support tailored to the needs and opportunities of each area. The RIS3 process is inclusive and is based on the active participation of key stakeholders from the academic and economic spheres both at the design stage and in the implementation phase.

The annual report on Serbia's progress towards EU approximation, done in May 2018, substantially increased the importance of RIS3. Namely, one of the conditions for closing Chapter 20 on the topic "Entrepreneurship and industrial policy" is the development of a comprehensive industrial policy based on EU principles and RIS3 findings. The general framework for the development of RIS3 in Serbia is according to the standards of the European Union (EU), and it is defined in the document "Smart specialization framework for Enlargement and Neighborhood countries" from 2018.

The importance of the smart specialization strategy for the Republic of Serbia is reflected, among other things, in the fact that it will help to establish a better connection between scientific research and innovation activities, on the one hand, and the economic and industrial structure on the other. This will enable better coordination between scientific research and industrial policy.
More information on Smart Specialization Strategy for the Republic of Serbia can be found at the following link: https://pametnaspecijalizacija.mpn.gov.rs/.