This paper provides an analysis of the strategic orientation towards regional transformation through the notion of ‘strategic management of space–time’. It argues that regional strategy processes are about a construction of selective semiotic economic imaginaries, controllable ‘slices’ out of the messiness of the ‘actually existing economy’. The paper presents a three-dimensional framework to analyse regional strategy processes focusing on strategic gaze, strategy sites and the spaces of strategy. In the framework, strategy process is perceived as partially ‘hermetic’ space that produces its own worldview, its distinctive perspective, out of the hybrid contextual materials. The perspective is the central ‘product’ of the regional strategy process; it strongly frames the landscape of potentialities (what is possible, what is plausible, what is desirable) created in the process. The paper exemplifies this framework by studying two strategy processes realised in Southern Finland in 1990–94. In both of these, the strategic gaze was built on an optic of Europe as a new kind of ‘Darwinian market space’ in which the economic survival and success would require specific regional capacities.