Regions in Europe are no longer isolated entities but are linked to a larger territorial context. Understanding the position of one’s region or city in the larger territorial context and searching for potentials and comparative advantages is a necessity in the accelerating globalization and competition. Awareness and openness for including a European dimension in strategy building and policy making is therefore of major importance in developing new regional policy approaches. This project is expected to meet the demand for analytical methods and approaches and to support local and regional practitioners and policy makers looking for ways to detect territorial potential involving a European perspective and to turn challenges into potential.