This paper aims to answer the question “What changes are taking place in the field of innovation policy and why?” Generally the concept of the regional innovation policy is directly related to the actors of the regional innovation system, which are created with an explicit goal to develop, diffuse and utilise innovations (even though systems may be modified in such a direction by policy or strategy). Analyzing the regional innovation policy, it is essential to examine the issue of the regional innovation system, because the goals of the regional innovation policy is shaped by using initiatives of actors of regional innovation system, which aims to involve every actors of regional innovation system to build an open and dynamic ecosystem. The purpose of this paper is threefold: (1) to expose the characteristics of regional innovation policy; (2) to reveal the changes in the innovation system; (3) to expose the essence of concept of innovation policy memorandum of Baltic sea region and perspectives in the Kaunas region. The regional innovation system is changing by the regional innovation environment, which is focused on development of entrepreneurial, open and dynamic ecosystems. In summary, the key perspectives of Kaunas region is to adapt aspects of innovation policy in the memorandum and to improve access of actors of Kaunas Regional Innovation System to develop activities with international partners in the Baltic Sea region.