Interregional Innovation Investments Initiative
The Interregional innovation investments initiative as part of the European Regional and Development Fund (ERDF) 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 agency will implement two strands of the programme in 2021:
- Financial and advisory support for investments in interregional innovation projects;
- Financial and advisory support to the development of value chains in less developed regions.
In this context, the Agency is responsible for implementing grants to support:
- Innovation Actions (IA) for mature partnerships to connect demand and supply to accelerate interregional innovation investments in Smart Specialisation priority areas.
- Simplified Innovation Actions (SIA) for less developed regions to increase the capacity of regional innovation ecosystems to participate in global value chains.
European Regional Development Fund (ERDF)
The ERDF aims to strengthen economic and social cohesion in the European Union by correcting imbalances between its regions. The new instrument aims at achieving this by helping businesses work with innovation actors in other regions to bring innovative products and services to market and address societal challenges. This will contribute to the development of European value chains in shared smart specialisation areas supported under cohesion policy.