A sound promotion of innovation is essential for the future of the Baltic Sea Region, in particular to support the small- and medium sized enterprises. For this purposes stakeholders from medium-sized businesses, science, politics, and administration met at the seventh Hanseatic Conference in May 2012 in Hamburg. For two days the participants discussed about "Innovation and innovative strategies in the regional policy around the mare balticum" to further strengthen the region. It became evident, that a sustainable promotion of innovation demands a closer cooperation within the regions, on a transnational level but also between administrations and especially between companies and R&D institutions. The Baltic Sea area will only be one of the most innovative and strong regions in the world, if the bordering countries build a unit. This publication included the presented papers and summarizes the discussion of the participants.