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(1) Background: Regional Innovation Strategies on Smart Specialisation (RIS3) receive higher attention due to the start of the new European funding period 2021–2027. Compared to the previous period, RIS3 will focus more attention towards social needs and challenges in their design and implementation to commit themselves towards sustainable regional development and contribute to the European Green Deal and UN Sustainable Development Goals. Nevertheless, RIS3 as innovation policy has not yet incorporated social innovation concepts or socio-ecological demands on its pathway within the constant transition of Europe’s society to become more sustainable. (2) Methods: A systematic literature review has been conducted to identify key insights and gaps in existing literature. (3) Results: The review exposed clustering as a policy tool for sustainable development, a lack of integration of social capital and regional assets to RIS3 design to overcome societal challenges and missing political capabilities to utilize social innovation governances under RIS3 towards sustainability. (4) Conclusions: Future research should pick up these gaps to contribute to a better understanding of social innovators in designing RIS3, meeting social needs and forging the pathway towards sustainability.

Social Innovation Governance in Smart Specialisation Policies and Strategies Heading towards Sustainability: A Pathway to RIS4?