Regional governments from Latin America and the Caribbean, including Mexico, are invited to take part in the European Union's IUC region-to-region exchange programme, which will enable them to cooperate with counterparts in the EU in order to promote innovation, competitiveness and new opportunities for their citizens.

Innovation is a key factor in creating competitive economies in the era of globalisation. Experience from the EU shows that working in close partnership, regional level authorities, the private sector and the research community can play a lead role in the process of innovation, and in reducing dependence on declining sectors. The globalised economy and the increasing role of global innovation networks call for innovation policies that go beyond regional and national borders. The programme is intended to help the key actors to generate global partnerships for business and knowledge development and to position their region in global value chains. Under the programme, participating regions will be encouraged, and supported, to analyse their competitive strengths and weaknesses, allowing for the identification of new opportunities in emerging or traditional sectors. The programme will seek to stimulate action in the different dimensions of the innovation process: