1 October 2020 | The signatories strongly support the Interregional Innovation Investments Instrument and welcome the agreement from the Council to create this new tool under the ERDF, while regretting the downsizing of its budget to 500 millions € (compared to the nearly 1 billion as initially proposed by the EC). Indeed, we think that, even with its limited budget, this instrument has the potential to unleash the innovation potential available in European regions, supporting the recovery of the European Union as a whole through a coordinated approach for investments in the development of interregional value chains across the EU. It can play a key role in shortening and strengthening supply chains and building the complete value chains that are crucial to strengthen the EU industry, secure innovation capacity, and create a strong basis for future business while also encouraging the progress towards a strategic sovereignty in Europe. Collaboration will be essential in the recovery, and in developing resilient industrial value chains in Europe.

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