20/06/2024 (Agence Europe) – On Thursday 20 June, the European Commission identified 151 European regions as Regional Innovation Valleys (RIVs), with the aim of linking up the key players in these regions and funding innovation with a budget of €116 million. Seventy-two regions are in the process of becoming VRIs, while a further 79 regions have been identified as potential VRIs. The aim is to encourage the emergence of innovation clusters and reduce the gap between different regions, all with a view to making the European Union more competitive. Innovation is also a prerequisite for the green and digital transitions within the EU. VRIs are part of the ‘New European Innovation Agenda’ and are financed by Horizon Europe funds and the European Regional Development Fund (ERDF). (PC - intern)