Vanguard regions sign Letter of Intent for VInnovate – boost for innovation and entrepreneurship in the East Netherlands Region

On December 5, the regions within the Vanguard Initiative, including East Netherlands, officially signed the Letter of Intent for VInnovate, an important step in creating an innovative financing instrument. For the East Netherlands, this signing marks a new step in promoting innovation and economic growth within the region. Erwin Hoogland, Regional Minister of Overijssel, signed the Letter of Intent on behalf of the East Netherlands region.

VInnovate is  the next step in leading by example for the regions  cooperating within the Vanguard Initiative, and represents a milestone for the East Netherlands. This region has been an active participant in the development and will therefore directly benefit from this new funding mechanism.

Erwin Hoogland: "For East Netherlands, signing the Letter of Intent for VInnovate is important. This opens new opportunities for regional SMEs to stimulate innovation and entrepreneurship."

The East Netherlands region strongly believes in the power of regional cooperation to boost economic growth. Over 30 partners have therefore combined forces in the Regional Innovation Agenda Think East Netherlands. Signing up to VInnovate offers the  partners the opportunity to support and connect innovative ideas from regional SMEs with other Vanguard regions, increasing and accelerating the impact of these ideas. The aim of the Vanguard Initiative is not only to achieve open strategic autonomy, but also to strengthen European industrial value chains, making them globally competitive.
VInnovate is based on three key pillars: regional ownership, customisation and leverage. This funding instrument will enable the East Netherlands to set its own direction, define the scope of projects and support regional SMEs in their innovations.

The signing of the Letter of Intent for VInnovate is not only proof of the Vanguard regions' determination, but also highlights the East Netherlands' commitment to a sustainable and innovative future for the region and Europe. The regions that have signed the Letter of Intent, besides East Netherlands, include: Galicia, Wales, South Netherlands, Baden-Württemberg, Basque Country, Wallonia, Emilia Romagna, Eastern and Northern Finland and Norte.