The Vanguard Initiative (VI), a 10-year European network that brings together close to 40 heavily industrialised European regions, announced the creation of an innovative interregional financing mechanism: VInnovate.
This new mechanism was developed within the scope of a working group of the Vanguard Initiative, called Funding and Financing Task Group, whose creation originated from a joint proposal from the Northern Region of Portugal and the South Holland Region – coordinated by José Carlos Caldeira, member of the Board of Directors at INESC TEC, and representative of Portugal’s Northern Region.
“The Northern Region of Portugal has been one of the most active in this initiative, which demonstrates the agents’ interest and willingness to participate in various activities, and in the creation and operation of this new financing mechanism”, explained José Carlos Caldeira.
Since its creation, VI has been committed to promoting the technological, economic and social development of its industrial fabric, namely through the promotion of pilot-projects and collaborative demonstrators, involving companies and entities in several regions, and providing combined support for co-investment projects. The new financing mechanism will now support interregional R&D&I projects and foster the adoption of emerging technologies for the development of European value chains.
The letter of intent that formalises the kick-off of VInnovate was signed by the respective regional representatives on December 5, in Brussels, as part of the celebrations of the 10th anniversary of the Vanguard Initiative. The Norther Region was represented by its President, António Cunha. The event also featured a number of high-level representatives from various institutions of the European Union, namely the Director General of RTD, Marc Lemaître.
The first call is planned for the end of the first half of 2024.
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