OREANDA-NEWS. Today during the Smart Regions conference, the European Commission is launching the Smart Specialisation Platform for Industrial Modernisation.

This new initiative offers hands-on support to regions to foster interregional cooperation based on matching smart specialisation priorities related to industrial modernisation - such as Key Enabling Technologies, service innovation or resource efficiency. It will be hosted by the European Commission's Smart Specialisation Platform located in Seville.

The aim of this initiative is to create an investment pipeline of mature projects in new growth areas across the EU, by providing tailored advice and helping regions establish links with the business and research communities.

The platform could help regions develop or share infrastructure such as testing facilities, pilot plants, data centres, and Fab-Labs.

Commissioner for Regional Policy Corina Cre?u said: "Regions with similar competitive industrial assets and investment priorities will be able to work together on innovative projects that will benefit European growth. This initiative will also help them fully seize the investment opportunities provided by the ESI Funds, with over €120 billion to be invested in smart growth over 2014-2020."

Commissioner El?bieta Bie?kowska, responsible for Internal Market, Industry, Entrepreneurship and SMEs, said: "Industrial modernisation needs to happen at a regional level, but regions need to join forces. The Smart Specialisation Platform on Industrial Modernisation will help EU regions roll out industrial investment projects for jobs, growth and competitiveness."

Commissioner Tibor Navracsics, responsible for the Joint Research Centre, said:"The Smart Specialisation Platform for Industrial Modernisation builds on a thorough mapping of regional strengths and priorities done by our experts in close collaboration with authorities on the ground. I am convinced that this solid evidence will help to achieve the platform's aim of promoting common investment projects and industrial modernisation in EU regions.”

Particular support will be given to regions to combine different EU investment instruments, such as the European Structural and Investment (ESI) Funds, COSME, Horizon2020 and the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan.