The platform is an important forum for dialogue with European regions and cities on issues related to research and innovation. It was set up in 2015 as a cooperation between the European Committee of the Regions and the European Commission Directorate-General for Research and Innovation.

The platform was relaunched as KEP 2.0 in November 2020, following the Commission's plan for a new ERA to include strategic and coordinated support to regions and cities building on successful initiatives such as the Knowledge Exchange Platform.

KEP 2.0 will continue supporting the EU's policy ambition of creating dialogue and synergies between Horizon Europe and other funds, but will also provide a Europe-wide forum for informing regions and cities of the new European Research Area.

By relaunching the platform the Commission seeking a strong commitment of regions and cities towards common research and innovation goals. The platform is fully aligned with the new European Research Area priorities.