The North-East Region has been granted the status of a Regional Innovation Valley (RIV), joining 150 other regions across Europe identified by the European Commission. These regions will be part of the New European Innovation Agenda (NEIA), which connects various regions with different levels of innovation, linking key players in this field.
RIVs are a vital component of the flagship NEIA 3 initiative, relying on the Work Programme for European Innovation Ecosystems under the Horizon Europe program and the Interregional Innovation Investment Instrument (I3) from the European Regional Development Fund.
Horizon Europe program
Horizon Europe is the EU’s main funding program for research and innovation for 2021-2027, with a budget of EUR 95.5 billion. It addresses climate change, contributes to achieving the UN’s sustainable development goals, and boosts EU competitiveness and growth. The program facilitates collaboration and enhances the impact of research and innovation in developing, supporting, and implementing EU policies while tackling global challenges. It supports the creation and better dissemination of excellent knowledge and technologies, creating new jobs, fully engaging European talents, fostering economic growth, promoting industrial competitiveness, and maximizing investment impacts within a reinforced European Research Area. Legal entities from the EU and associated countries can participate.
Innovation ecosystems
An integral part of Horizon Europe, the program for European Innovation Ecosystems aims to create more connected, inclusive, and efficient innovation ecosystems and support the scaling of businesses, as outlined in the New European Innovation Agenda.
Innovation ecosystems:
- Bring together people or organizations with the objective of innovation
- Include connections between resources (e.g., funds, equipment, and facilities), organizations (e.g., higher education institutions, research and technology organizations, enterprises, venture capital investors, and financial intermediaries), investors, and policymakers.
The actions supported by European innovation ecosystems complement the actions of the European Innovation Council and the European Institute of Innovation and Technology, activities within the Horizon Europe program, national, regional, and local initiatives, as well as private sector and third-sector initiatives.
Emphasis on innovations in Europe
The Commission prioritizes innovation as a transversal factor supporting the green and digital transitions, European competitiveness, economic security, and open strategic autonomy.
Regions display varying levels of development in implementing innovative initiatives, highlighting the need to support them in forming a common initiative aimed at enhancing interregional knowledge.
To this end, the EU allocates EUR 116 million from the Horizon Europe program to 72 regions with different levels of development and innovation performance. The targeted areas are European Innovation Ecosystems (EIE) and the Interregional Innovation Investment Instrument (I3) of the European Regional Development Fund.
Additionally, 79 other regions have been identified following a call for expressions of interest to become the next RIVs, based on their commitment to improving coordination and direction of investments, innovation policies, and active participation in interregional collaboration to further develop innovation and strengthen regional innovation ecosystems.
Besides funding, the Commission will support these regions through community-building activities, matchmaking events, and dedicated communication actions.
New European Innovation Agenda (NEIA)
In July 2022, the Commission launched NEIA to position Europe at the forefront of the new wave of deep tech innovation.
The 25 actions included in NEIA, grouped into five main areas, aim to:
- Improve funding for deep tech scale-ups,
- Facilitate deep tech innovation through experimentation spaces and public procurement,
- Accelerate and strengthen innovation in European innovation ecosystems across the EU and reduce the innovation gap,
- Promote, attract, and retain deep tech talent,
- Enhance policy-making tools.
According to a 2024 report on NEIA implementation, 13 of the 25 proposed actions have been completed, while 12 are ongoing.
More details can be found in the press release issued by the European Commission.
