The Algarve Regional Coordination and Development Commission (CCDR), through the bulletin Algarve in the Spotlightcarried out an assessment of the implementation of the Regional Research and Innovation Strategy for Smart Specialization (RIS3 Algarve) until the end of 2023. The report highlights the results obtained with the support of European funds under the CRESC Algarve 2020 Regional Operational Program and others financing programs.
RIS3 Algarve aims to promote sustainable development in the region, identifying priority areas for investments in innovation and research. This process, known as entrepreneurial discovery, involved partnerships between public, private, academic and civil society entities. Two priority domains were defined, Tourism and Sea, and four emerging domains: Agri-food, Information and Communication Technologies (ICT), Cultural and Creative Industries (ICC), Renewable Energy, and Life Sciences, Health and Wellbeing.
Financing and approved projects
Until December 31, 2023, 8,151 projects had been approved under 13 financing programs, with 4,748 directly aligned with the RIS3 Algarve domains, representing 58% of the total. The total amount of approved financing was 286 million euros, highlighting the contribution of the CRESC Algarve 2020, PDR 2020, MAR 2020 and the Recovery and Resilience Plan (PRR) programs.
CRESC Algarve 2020, for example, was responsible for 518 aligned projects, mobilizing 144 million euros. Faro concentrated 29% of the approved projects, followed by Loulé, Portimão and Albufeira, which together represent 70% of the approved fund.
The Tourism and ICT/ICC domains lead in the number of projects and funds allocated, representing, respectively, 57% and 56% of the total within the scope of RIS3 Algarve.
Impact on emerging areas and cross-border partnerships
The POCTEP territorial cooperation program, which covers the Algarve-Alentejo-Andalusia Euroregion, was one of the highlights, channeling significant investments towards the Maritime domain. The partnership with cross-border entities promoted the development of innovation networks, regional clusters and the internationalization of small and medium-sized enterprises (SMEs).
In the agri-food field, PDR 2020 funds strengthened the sector’s competitiveness, while MAR 2020 boosted the development of fisheries and aquaculture. Renewable energies and life sciences also made progress, with multi-domain projects representing 60% of the total approved.
Results and goals exceeded
The achievement indicators show performance above the targets set for 2023. Highlights include cooperation projects with research and development (R&D) institutions, which achieved 153% of the established targets, and innovation and social experimentation projects, with 139 %. Other initiatives exceeded objectives, such as the reduction of greenhouse gas emissions, which in 2022 was already 228% above the target.
Outlook for 2021-2027
The company is now preparing for the new phase of the smart specialization strategy, with the approval of the Algarve 2030 Regional Program. This plan will continue the objectives of RIS3, leveraging the region’s innovation potential and promoting a more sustainable and competitive economy.
RIS3 Algarve exemplifies how European funds, when strategically directed, can transform regional realities, fostering innovation, sustainability and socioeconomic development. With the entry into force of Algarve 2030, new challenges and opportunities arise to consolidate the region’s position as a national and international reference.
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