Industry 4.0 (I4.0) is taking off across Europe. Regions are keen to ensure that their strategies are coherent with this new line of integrated, digital development. They must also ensure that SMEs, the heart and soul of regional economies, are involved and that they benefit from it. This is not only technological R&D. It is about cultural mind-set, preparation and qualifications. 40Ready promotes cooperation at interregional level to reach anoverall aim: to prepare SMEs for the I4.0 revolution. With SMEs, we refer to entrepreneurs, owners, managers and staff at all levels, who need to become ready to take on the new challenges of I4.0. European social funding (ESF) can support vocational and professional capacity building. European regional development funding (ERDF) can support technological, organisational and skill development. Improvements to these policies could go far to ensuring that SMEs, and people working for them, are able to embrace and benefit from industrial digitalisation and automation. 40Ready partners and stakeholders cooperate to understand SMEs’ skill and digital maturity needs and what policy makers can do with policy instruments to address these needs. They develop an Action Plan, with proposals on how ESF/ERDF policies can better support SMEs in preparing for I4.0. Partners and selected stakeholders implement and monitor the Action Plan, starting in project Phase 1, leading into Phase 2. Policy improvements range from funding projects on I4.0 skills and digital maturity, to management approaches that create synergy between policy instruments, to strategies that integrate both I4.0 and the SME skill focus. Partners are Managing Authorities or Implementing Bodies of selected policies: they have the power to make real change. 40Ready regions will become better placed for a successful, durable and profitable application of I4.0. They will support their SMEs to become more competitive, while maintaining and creating more and better jobs.