The EU steadily aims to increase its economic competitiveness so that it is capable to successfully stand the existing economic challenges and to maintain economic, territorial and social cohesion. The accomplishment of these goals is connected with the completion of the EU internal market which is regarded as "a system of open and competitive markets". This implies the enhanced cooperation of the involved actors on the EU, national and regional levels. This cooperation is linked with innovations, research and development and requires lose collaboration within the triangle of horities, business and academia. A particular role in the practical implementation is given to innovative SMEs that should be provided with a friendly legal framework and coherent policies implemented by the relevant horities. A special role in providing innovative SMEs with these possibilities belongs to technology parks which represent a sort of practical role model of the intensified cooperation between business, academia and administration, as the Europe 2020 and its predecessor the Lisbon Strategy stipulates, and secures achieving of economic, territorial and social cohesion. On the base of three case studies from Bremen, Gdansk and Klagenfurt which are urban dominated sub-centres with comparable socio-economic conditions within their countries this book analyses possible scenarios or best practices for the contribution of innovative SMEs to the regional development as a result of cooperation between business, academia and administration which complies with the Europe 2020 approach that rejects "one-size-fits-all" treatment. The book deals with a very dynamic sphere of innovations and R&D which has to find swift solutions for any apparent and unpredictable challenges being a sphere in which the notions of "modern" and "outdated" with regard to relevant laws and policies.