Economic Development

Regional Innovation Valleys (RIVs), part of the European Commission’s New European Innovation Agenda initiative, aim to strengthen and advance European innovation ecosystems, connecting all EU territories, to address Europe’s burning societal challenges, and to foster stronger cohesion.

The specific aims of the Regional Innovation Valleys are to:

• harness the potential of deep-tech innovation across different EU territories and address the innovation divide.
• strengthen innovation ecosystems across the EU, by accelerating the development and deployment of innovation, including deep-tech innovation.
• bring together less and more innovative regions with a view to addressing reduction of reliance on fossil fuels, increasing global food security, mastering the digital transformation (including cybersecurity), improving healthcare and achieving circularity.

A Call for Expression of Interest to have Regional Innovation Valley status was launched by the European Commission in 2023.

The Eastern and Midland Regional Assembly, in cooperation with the Department of Enterprise, Trade and Employment was successful in its application and the Eastern and Midland Regional Assembly was designated as a Regional Innovation Valley (RIV) by the European Commission on 19 June 2024, joining a network of similarly designated regions across Europe.

A map of all designated Regional Innovation Valley regions across Europe can be found here.

Regions selected to receive a RIV label are committed to:
• Strengthening their Research & Innovation (R&I) ecosystem
• Enhancing the co-ordination and directionality of their R&I policy and investment towards key EU priorities
• Engaging in R&I collaboration between more and less advanced regions with complementary smart specialisation strategies.

A Regional Innovation Valley label connects regions with other designated regions across Europe to enhance their innovation ecosystems, fostering collaboration among European regions and cities based on their smart specialisation strategies (S3) and competitive advantage to address the innovation gap.

The European Commission will support these cross-regional and cross-sectoral partnerships by connecting various stakeholders within each region’s innovation ecosystem through matchmaking events and targeted communication actions.

While funding is not awarded to Ireland with this designation, being part of the RIV initiative unlocks new funding and international collaboration opportunities for the Eastern and Midland Region, to enhance competitiveness and innovation.

The EU Commission is currently preparing an interactive map which will show which regions have the RIV label, and which areas they specialise in. This will assist with interactions and the identification of possible partners. This interactive map is due to be published shortly.

Innovation agencies, innovation hubs, companies, universities and other research performing organisations are encouraged to signal their interest in engagement to the Regional Assembly.

Smart Specialisation

Smart Specialisation is an innovation policy concept, developed by the European Commission, which aims to boost regional innovation by harnessing the inherent strengths of each region through fostering collaboration between businesses, research institutions, public authorities and civil society. Ireland’s Smart Specialisation Strategy was developed by the Department of Enterprise, Trade and Employment.

Smart Specialisation provides a roadmap for each region to address challenges such as embracing digital transformation, reducing fossil fuel reliance, achieving circularity, as well as enhancing global food security and advancing healthcare, while emphasising the importance of research and development, skills and entrepreneurship.

More Info on Smart Specialisation

The New European Innovation Agenda

The New European Innovation Agenda, adopted on 5 July 2022, aims to position Europe at the forefront of the new wave of deep-tech innovation and start-ups. It will help Europe to develop new technologies to address the most pressing societal challenges, and to bring them to the market. Europe wants to be the place where the best talent work hand in hand with the best companies and where deep-tech innovation thrives and creates breakthrough innovative solutions across the continent.

The New European Innovation Agenda – European Commission (europa.eu)

Funding

While funding is not awarded to Ireland with this designation, it does enable regions to unlock new European funding sources and international collaboration opportunities. It also offers new opportunities for small and medium-sized businesses to access collaboration domestically and internationally to drive innovation.

Innovation agencies, companies, RPOs and innovation hubs are encouraged to signal their interest in engagement to the relevant Regional Assembly.

Eastern and Midlands Regional Assembly – Email: info@emra.ie