The Entrepreneurial Discovery Process (PPO) is the central element of the new approach – research and innovation strategies for smart specialization (RIS3). The aim of the PPO is to help countries and regions to identify, verify and modify priority areas in the field of innovation (the so-called smart specializations) – using a bottom-up process involving the private sector, science, business environment institutions (BEIs), non-governmental organizations, administration and public opinion. The Enterprise Discovery Process allows the central and regional authorities to identify new technological and business trends perceived by the private sector, obtain information on enterprise problems and expectations, and then appropriate adjustment of policies and instruments to support innovation. The assumed effect of this process is the modification of policy directions – from top-down programs and the supply-side approach to programs responding to the bottom-up demand of enterprises and the economy. The PPO should also help to eliminate market failures and coordination gaps, and help the private sector gain a critical mass of innovation-based development. The task of the PPO is also to create new public goods, including new knowledge sharing mechanisms that will strengthen entrepreneurial discovery. As a result, the implementation of the PPO should give a higher return on public investment in innovation and contribute to a faster growth of labor productivity necessary for the further convergence of Poland with the countries of Western Europe.