Regions are called to play a central role in strategies for research and innovation because at this territorial level the economic animation, public policies, and networking of actors in the innovation process can be carried out more effectively. The empirical evidence shows that the Italian Region Aosta Valley is a territory with moderate innovation performance and a low funds user for research and innovation. Nonetheless, in Aosta Valley there are a significant number of SMEs developing valuable and high-level competencies and solutions in several strategic sectors; on the other hand, in this region are located centres of research and competencies acknowledged as important poles of know-how and expertise. In this framework, the aid scheme for the establishment and development of Research Units is an innovative financial instrument, conceived from a deep analysis of the weaknesses and bottlenecks in the regional R&D system, in order to stimulate collaboration between, on the one hand, companies developing applied research and experimental development, aimed at designing new products/processes, and, on the other hand, research centres implementing fundamental research projects without direct effects on the market. Thanks to Structural Funds and synergies between ERDF and ESF, the Research Units have allowed the creation and development of capacity building among the local innovation players in order to foster conditions of effective collaboration in the regional ecosystem and to implement research projects bringing about prototypes of products and solutions able to meet societal challenges and to have a significant impact on the territory. The Research Units should continue their activities beyond the eligibility period of co-funded research projects, by activating new R&D projects that will have the possibility of securing further public support and getting funds through other public initiatives, at the regional, national and European level, and that can contribute to the creation of spin-offs, with the final aim to deliver new solutions in sectors of public societal relevance as well as better, more efficient and higher quality products and services.