Following calls for proposals under Horizon 2020 in 2019 and 2020, EU grants of up to EUR 2 million were offered to 39 European University alliances to implement institutional changes that would develop their research and innovation (R&I) capabilities, both as individual HEIs and collectively as alliances. The funding was intended to support the development and initial implementation of joint strategies and action plans, where possible in connection with other EU or national funding sources. This analytical report presents an assessment of the effectiveness and impact of the funding on institutional changes within the alliances in the period 2019-2022. The assessment was undertaken as part of the study entitled Towards a European Excellence Initiative".