EU invests €116 million in Regional Innovation Valleys

The European Commission announced on 19 June that it has allocated €116 million to establish 151 Regional Innovation Valleys (RIVs), aiming to boost Europe’s innovation ecosystems. The initiative is part of the New European Innovation Agenda (NEIA), designed to enhance Europe’s competitiveness and innovation capacity.

Funding comes from Horizon Europe’s European Innovation Ecosystems programme and the European Regional Development Fund’s Interregional Innovation Investments (I3) Instrument.

Seventy-two regions, pending grant agreements, will lead this effort, focusing on challenges like reducing fossil fuel dependency, improving food security, mastering digital transformation, enhancing healthcare, and promoting circularity.

An additional 79 regions have expressed interest in joining future phases of RIVs. These regions have committed to enhancing their innovation policies and investments and fostering interregional collaboration.

Many IASP member regions are among those listed, reinforcing the pivotal role of STPs/AOIs in driving European innovation.

The European Commission will support these regions not only with funding but also through community-building activities, matchmaking events, and targeted communication actions.

Iliana Ivanova, Commissioner for Innovation, Research, Culture, Education, and Youth, added, "Through RIVs, we will help turn the diversity of the EU’s territories into a strength and facilitate collaboration to foster new EU value chains for Europe’s homegrown innovation".