Despite past failures related to industrial policy, most Latin American countries see the regional perspective as a viable alternative for innovation policy. This paper explores how regional innovation policy is implemented in some regions of Lain America. The study considers 14 regions located in 4 countries: Argentina, Colombia, Chile and Peru. The study analyzes the perceptions of experts about the policy instruments implemented in each region and the regional capacity to implement their own initiatives. The results show that different types of instruments are implemented; however, the capacity to implement regional policies differs among them, and the policy at national level could affect it. It is concluded that the regional innovation policy needs the political empowerment of local territories and the management of geographical and non-geographical aspects. Likewise, the technological aspect could be key when local territories have low political empowerment.Despite past failures related to industrial policy, most Latin American countries see the regional perspective as a viable alternative for innovation policy. This paper explores how regional innovation policy is implemented in some regions of Lain America. The study considers 14 regions located in 4 countries: Argentina, Colombia, Chile and Peru. The study analyzes the perceptions of experts about the policy instruments implemented in each region and the regional capacity to implement their own initiatives. The results show that different types of instruments are implemented; however, the capacity to implement regional policies differs among them, and the policy at national level could affect it. It is concluded that the regional innovation policy needs the political empowerment of local territories and the management of geographical and non-geographical aspects. Likewise, the technological aspect could be key when local territories have low political empowerment.