The RISE Project, a European Commission-funded initiative under the Interregional Innovation Investments Instrument (I3) of the European Regional Development Fund, is making significant strides in fostering sustainable cooperation and accelerating innovation deployment in less-developed regions of Europe. With a focus on Bulgaria, Slovenia, and Portugal, RISE is supported by transitional regions in Spain, Finland, and Sweden, while drawing on the expertise of developed regions in France and Italy. The consortium, coordinated by Cleantech Bulgaria, includes eight partners working collaboratively to drive the green and digital transition.

Project progress at the halfway mark

At just over the halfway point of its 24-month duration (November 2023 – October 2025), RISE has successfully implemented key initiatives to strengthen innovation ecosystems and interregional cooperation. These efforts are centered on Efficient and Sustainable Manufacturing, Bioeconomy, and Smart Technologies, ensuring that SMEs and regional stakeholders receive the necessary support to scale up and implement smart solutions.

Key Achievements and Activities

1. RISE roadshow: Connecting innovation stakeholders

The RISE Roadshow was a pivotal initiative designed to connect and empower innovation actors across Europe. This series of webinars focused on key thematic areas:

• Mineral raw materials (May 29, 2024) – Highlighting EU trends in critical raw materials.
• Bioenergy and Sustainable buildings (June 12, 2024) – Exploring bioeconomy and sustainable construction.
• Forest biomass and circular economy (June 26, 2024) – Promoting circular economy practices.

With over 130 participants, including SMEs, research organizations, and policymakers, the Roadshow provided a dynamic platform for collaboration. A total of 32 project pitches were presented, sparking new partnerships and initiatives. Notably, three companies formed a collaboration that led to a submission for the LIFE EU project, showcasing already the tangible impact of the RISE initiative.

2. Matchmaking and light mentorship phase

Following the Roadshow, RISE launched a structured matchmaking activity to facilitate interregional cooperation among selected companies. This initiative led to the formation of 23 preliminary working groups, comprising 41 companies from various regions. To support these groups, RISE introduced a “light mentorship” phase, providing a toolbox with essential guidance, resources, and templates to help them develop and refine joint innovation projects.

3. Pitching events and investment readiness

After the ‘light mentorship’ phase, in which the companies were guided towards the definition of their projects, the joint innovation projects were given the opportunity to present their innovative project during pitch events organized by RISE. Three high-profile pitch sessions were held in:

• Évora, Portugal (October 9, 2024) – Focused on metals, stone, and construction industries.
• Vratsa, Bulgaria (November 7, 2024) – Centered on sustainability and circular economy.
• Brussels, Belgium (December 11, 2024) – Highlighted EU-wide collaboration opportunities, focused on sustainable mobility & batteries.

These sessions played a critical role in advancing cross-regional innovation investment projects. The events brought together key industry stakeholders, facilitated strategic networking, and enabled SMEs to showcase their innovative solutions. A total of 30 project fiches – a template sheet developed by the RISE consortium to standardise the different projects collected – were developed from these events, contributing to a robust pipeline of future investment projects.

Deliverables and future outlook

Investment maturity report (Deliverable 4.2)

Building on the outcomes of the pitching events, the Investment maturity report evaluated the 30 submitted project fiches, classifying them into three categories:

• Very mature (ready for immediate investment acceleration).
• Under development (requiring further coaching and support).
• Not mature (redirected to other funding opportunities).

This ranking framework ensures that promising innovations receive targeted support to maximize their impact and scalability.

Next steps: Strengthening the RISE ecosystem

In the coming months, RISE will focus on:

• Advancing selected investment projects into more structured business plans.
• Providing tailored coaching sessions to refine financial strategies and market positioning.
• Organizing additional networking and knowledge-sharing events to further support SMEs and regional stakeholders.
• Ensuring long-term sustainability of the interregional innovation ecosystem beyond the project’s completion.

A collaborative approach for a sustainable future

RISE’s success is built on a quadruple-helix model, integrating academia, industry, government, and civil society. By leveraging expertise across developed and transition regions, RISE is not only accelerating innovation in less-developed areas but also fostering a more resilient and interconnected European innovation landscape.

Contact information

For more information about the RISE Project and upcoming activities, please visit www.rise-project.eu or contact us at boryana@cleantech.bg.

RISE project – Driving innovation, empowering regions.