Europe Launches Regional Innovation Valleys Initiative
In early 2023, the European Commission launched the Regional Innovation Valleys (RIVs) initiative as part of the New European Innovation Agenda.
The Agenda aims to position Europe at the forefront of the new wave of deep-tech innovation and start-ups. It will help Europe develop new technologies to address the most pressing societal challenges and bring them to market.
The goal of RIVs is to address the innovation divide by harnessing deep-tech innovation. It will identify 100 regions committed to better coordinating their research and innovation investments and policies.
RIVs aims to collaborate on inter-regional innovation projects, with a particular focus on regions that lag behind the EU average.
The most recent EU Regional Competitiveness Index 2.0 clearly points to an enormous divide between the Europe's regions. Most regions in eastern Europe score below the EU average.
Regional Innovation Valleys Initiative for Stronger Cohesion
The RIVs initiative aims to address pressing societal challenges and foster stronger cohesion. By establishing a community of regions that meet local challenges and needs while contributing to the EU's strategic priorities, RIVs will help Europe become a global leader in deep-tech innovation and start-ups.
For the first time, the Cohesion Policy Funds and the Horizon Europe programme will work together to support interregional cooperation for innovation.
The Partnerships for Regional Innovation will connect and strengthen innovation ecosystems across the EU of different levels of performance.
Their complementary strengths should allow tackling regional efforts towards key challenges facing the EU, such as reducing reliance on fossil fuels, increasing food security, or facilitating digital transformation.
The EU will open two calls in May worth a total of €170 million to support innovation activities within newly created RIVs.
Call for Expression of Interest for Regional Innovation Valley
The Partnerships for Regional Innovation and Regional Innovation Valleys should help in two ways. First, participating regions will broader issues of climate change and digitalisation. In addition, more specific regional challenges of innovation and socio-economic transition.
The call for Regional Innovation Valleys should go hand in hand with stimulating a culture of entrepreneurship. It should also simplify regulations applicable to small and medium-sized enterprises.
More information about the launch of the call for expression of interest for Regional Innovation Valley