At the 2015 EU-CELAC Summit of Heads of State and Government, the European Union Member States and the Latin American countries committed themselves to reinforcing the existing strategic partnership between the European Union and Latin America. Meanwhile, there is a call for putting EU regional policy into a stronger international context and for more cooperation with third countries.
One of the objectives of INNOVACT is to promote a transfer of experience and knowledge from European Regions to Latin-American border areas about territorial cohesion through innovation-based approaches to regional development.
INNOVACT will identify EU cross-border areas that are suitable and interested in participating in the platform for knowledge exchange and transfer of good practices on the specific thematic areas and value chains that are relevant to the Latin-American border areas.
A thorough selection process will analyse EU border regions and propose appropriate matching regions for the LATAM border areas. Selection will involve the EU regions and build on their territorial and economic features and existing good practices on (cross-border) projects or actions on innovation, the promotion of clusters and the development of SMEs that are thematically or conceptually in line with the thematic areas and value chain developments in the LATAM border areas identified by INNOVACT.