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Interregional Innovation Investments Initiative

In 2021-27 period, cohesion policy will gain a new funding instrument. The so-called I3, “Interregional Innovation Investment” will support interregional partnerships in delivering investments on S3-related priorities and to reinforce globally competitive EU value chains. In fact, triple helix collaborations are powerful and useful instruments for achieving the goal of solving global challenges. By translating common priorities into a concrete pipeline of investments and place-based coordinated activities, interregional partnerships can unlock European Innovation potential. Public authorities, private actors, RTOs and final users will play a key role.

The I3 initiative as part of the European Regional and Development Fund (ERDF) and aims at supporting interregional innovation projects in their commercialisation and scale-up phases, giving them the tools to overcome regulatory and other barriers and bring their project to investment level. The ERDF aims to strengthen economic and social cohesion in the European Union by correcting imbalances between its regions.  The goals of these instruments are: 

  • to encourage the development of European value chains by mobilising innovation ecosystems to scale up and commercialise interregional innovation projects 

  • to mobilise additional investments in the selected priority areas and enhance cooperation with partners from different Member States through linkages to mainstream Cohesion policy operational programmes 

  • to strengthen complementarities between different EU, national, and regional funding instruments 

These instruments provide funding for mature joint innovation projects and supports stakeholders involved in smart specialisation to develop and set up such projects in value-chain investment portfolios. The I3 instrument is implemented by the European Innovation Council and SMEs executive agency (EISMEA) based on a biannual work programme. 

 

Smart Specialisation and interregional collaboration 

In order to benefit from a connected and circular economy, regions need to innovate to solve the challenges of the more competitive environment by creating new value chains across borders. For this reason, interregional cooperation is a new feature of Cohesion policy.  
Smart Specialisation has turned the diversity of territories into a strength by building on the specific assets of each region and Member State. It has also highlighted the potential of investments in innovation where the public and private sectors can work together. Interregional cooperation and connections between regional ecosystems are vital for accelerating market uptake of research results and stimulating innovation. 

 

Expert group on Interregional Innovation Investments 

To ensure further stakeholder engagement, the Commission established the I3 Expert Group, whose main objective is to support the Commission in the definition of a long-term work programme and the preparation of calls for proposals for the I3 instrument. The group will facilitate the exchange of experience and good practice in the field of interregional innovation and will provide support to the Commission in defining a long-term work programme and in preparing calls for proposals. Valeria Bandini, from our member organisation ART-ER, is the representative of EURADA in this group.