European regions, especially less developed ones, are facing many challenges that could be easily overcome by interregional alliances to support the creation of new European value chains. The Smart Specialisation Strategies are at the centrе of this approach. The result of this approach can improve the competitive advantage of the regions supporting their capacity building.

The southern and south-east (or Mediterranean-Balkan) European regions are facing many challenges in their twin green and digital transition, smart manufacturing and deep tech innovation. As less developed regions they feel more social and economic pressure, compared to the more developed European regions, in the process of acceleration and diffusion of innovation. Less developed regions often experience difficulties in building institutional and legal environments conducive to innovation. Usually these regions lack talents as one of the biggest challenges is the demographic one –depopulation and an increasingly elderly population. On the other hand the policy makers of the less developed regions are aware of the role of Smart Specialisation Strategies (S3) in strengthening regional innovation ecosystems and strategic partnerships as key tools for addressing the innovation in their regions. It can reverse the trend by creation of new exciting and sustainable jobs.

The regional partners of the current project already have their Smart Specialisation Strategies. But they are also aware that building regional coalitions will support the creation of new European value chains characterised by the identification of strategic areas for the creation of jobs and growth.

The main objective is to increase the capacity of regional innovation ecosystems in less developed regions to collaborate in EU value chains.

The project consortium consists of: 2 less developed regions (BG233 – Gabrovo, BG and ITG16 – Enna, Italy), 2 transition regions (EL303 – Athens, Greece and …………….., Cyprus), 1 more developed region (to be defined) and 1 associated partner (Business Angels, Norway – as a competence provider of training).

The capacity building scope includes:

• Fostering collaboration between more developed regions, transition regions and less developed regions
• Facilitating interregional cooperation between regional innovation ecosystem actors to participate in calls under I3 strands 1 and 2a
• Addressing the needs of regions with specific challenges such as EU outermost regions and regions with difficulties in retaining and attracting talents

The specific objectives of the project are:

• Creation of preconditions for interregional cooperation and investments in S3
• Facilitation of the validation process of investment ideas through improved knowledge

The project consortium consists of 6 partners from 6 European countries:

• ADRAL – Agencia de Desenvolvimento Regional do Alentejo (Portugal)
• PRISM – Prism Impressa Sociale (Italy)
• RIC_AG – Regional innovation center “Ambitious Gabrovo” (Bulgaria)
• AKEP – Academy of Entrepreneurship (Greece)
• NDEU – Norddanmarks EU (Denmark)

The 1^st Face-to-face capacity-building event took place in month 4 of the project (29 February) in Gabrovo, Bulgaria. As the WP leader, PRISM ,coordinated a Training of Trainers (ToT) session, in cooperation with the hosting organization RIC GABROVO and all other partner organizations. Mr. Svein-Magnus Sorensen, Investment Expert and Chairman at NorBAN, along with Mrs. Rita Anson, Investment Expert and Secretary General at NorBAN, led the initial session on investments. Discussions covered the roles of “angel investors” and “start-ups,” highlighting start-ups’ access to funding, business plan analysis, portfolio development, and pitching to investors.

 The 2nd Face-to-face capacity-building event was held in Palermo, Italy. Based on the results achieved during the first face-to-face capacity-building event in Bulgaria, the second face-to-face capacity-building event was implemented between September, 4-5/2024 under the leadership of PRISM in cooperation with all partners. The topics covered in the agenda were: Pitching to investors- Startup Analysis: Rating a company; Investment amounts, stages, and expected Return on investment Valuation and deal-making; Valuation of startups.