Cyprus is one of the 151 regions identified by the Commission as Regional Innovation Valleys (RIVs), part of the New European Innovation Agenda (NEIA).
The purpose of RIVs is to strengthen regional innovation ecosystems, bridge the innovation gap in Europe and improve Europe’s overall innovation performance by connecting regions with different innovation levels and their key innovation actors.
This initiative is supported by the EU with total funding of €116 million under the European Innovation Ecosystems (EIE) programme of Horizon Europe, the EU research and innovation programme, and the Interregional Innovation Investments (I3) Instrument of the European Regional Development Fund. In the process of becoming Regional Innovation Valleys, subject to the signature of the grant agreements, are 72 regions with different levels of development and innovation.
The enhancement of innovation policies and investments is the region’s focus, aiming to tackle EU’s challenges as outlined in the NEIA, which include energy independence, increasing global food security, digital transformation proficiency (including cybersecurity), healthcare improvement and increasing circularity. Specifically, Cyprus, through the RIV, will primarily focus on bolstering its digital transformation, which is designated as the country’s main challenge.
Following a call for expressions of interest, an additional 79 regions have been identified to potentially become the next Regional Innovation Valleys. This selection is based on their commitments to improve the coordination and direction of their innovation investments and policies, engage in interregional collaboration to advance innovation, and strengthen and connect their regional innovation ecosystems.
These regions will also be supported by the Commission through community building activities, matchmaking events and targeted communication actions.
For More Information
New European Innovation Agenda
List of Regional Innovation Valleys
Map of selected Regional Innovation Valleys
Source: European Commission | Press corner (https://shorturl.at/F9Ld0)