**3. Adaption of new technologies supporting Industry 4.0**

It is assumed that European manufacturing industry has to radically renew itself. Industry 4.0 provides guidelines on how to make this renewal ambition a reality. The adaptation of new technologies that can be interconnected provides major opportunities. While large-scale utilization of sensors that are connected by wireless networks as well as further adapting robotics provide potential to gain major leaps in productivity. Analytical methods that can be utilized on big data provide further insights on managing a network of producers and suppliers. Mass customization becomes a reality. The overall productivity increase is due to increased speed, improved quality, better utilization of existing resources, and so on. However, the manufacturing firms should be prepared to make required investment on both hardware (equipment and computers) as well as on software (competence development and applications) [8].

Digitization is an increasingly relevant option while companies are trying to renew themselves and their operations to remain competitive. However, digitization is not only a shortterm project; it is a long term transformation that should be lead. The leadership perspective is very important in this change management initiative. Such technologies like cloud computing, wireless networks, and big data can be adapted. However, the main question remains,

**Figure 1.** Rapid adaptation of new internet-related technologies.

what changes are about to happen in our industry or value network and how applying digitization makes it possible to remain competitive and even further increase competitiveness.

**4.1. Legislation**

**Figure 2.** Factors affecting Industry 4.0 related renewal.

**4.2. Land use**

not known accurately.

**4.3. Regional strengths**

**4.4. Enterprise ecosystem**

expenses.

Legislation is the very first level that we can see as the driver of development. At this level, we should understand that legislation should not be considered as an actor, which regulates/ limits (actions), but legislation makes new kinds of business possible and supports business development. Generally, we can understand that legislation gives "the rules of the game" and this way makes business environments more predictable with less business risks. Legislation also gives the framework for operations like recycling, land use, and new business models, but also taxation decisions might encourage new businesses. EU legislation gives the framework for legislation but still there is national legislation, which steers local business and industry.

Renewing a University to Support Smart Manufacturing Within a Region

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We have industrial/logistics areas where companies are located. Usually, the industrial areas have developed and profiled themselves based on the strengths in the local region like logistic connections, population, energy, raw materials, knowhow at universities, skilled labor force, and so on. The question will be: how should we plan land use (business/logistic areas) so that companies would be able to create a fruitful business ecosystem, efficient material use (circular economy), and minimize logistic expenses. This is usually a long process and the steps are

We have industrial/logistics areas where companies are located. Usually, the industrial areas have developed and profiled themselves based on the strengths in the local region (like logistic connections, population, energy, raw materials, knowhow at universities, and skilled labor force).

There are clear indicators that short distances will improve co-operation between companies. In the case of material and economic efficiency, short distances give savings in logistic

The development of new technologies not only causes major changes and transformations, but also provides plenty of opportunities for exploitation of sustainable, residential, and residential-oriented urban centers and environments. The subscriptions to the Internet (IoT) alone will rapidly multiply in the years to come. This development affects traffic, travel chains, housing for commerce, welfare, healthcare, tourism, services, industry, etc. This development of new Internet-related technologies described in **Figure 1** places urban development and development principles into a new perspective.

Training, development, innovation, and testing can no longer take place in a separate and closed laboratory environment, but to be able to create sustainable innovations education and development activities must be brought into an operating environment where residents, nongovernmental organizations, political decision-making, civil servants, and students meet with regional development and different disciplines. The urban infrastructure is a part of the innovation-based ecosystems of different actors that produce new innovations at their interface.
