The Commission has identified 151 regions in the EU as Regional Innovation Valleys (RIVs), as part of the New European Innovation Agenda (NEIA). By bringing together a range of regions across Europe with different innovation levels and linking up their key innovation actors, RIVs aim to strengthen regional innovation ecosystems, bridge the innovation gap in Europe and improve Europe's overall innovation performance.

The EU will support this initiative with €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. 72 regions with different levels of development and innovation performance are on track to become Regional Innovation Valleys, subject to the signature of the grant agreements.

These regions are committed to strengthening their innovation policies and investments, focusing on challenges faced by the EU as outlined in the NEIA.  These include reducing dependence on fossil fuels, increasing global food security, mastering the digital transformation (including cybersecurity), improving healthcare and increasing circularity.