ABSTRACT Technological collaborations are crucial for shaping the emergence of new regional technological specialisations. This article explores the relationship between technological networks formed between organisations, within and across regions, and the ability of these regions to branch into new technological fields. To identify the organisations’ collaboration structure, we exploit patent co-applicant data and perform a network analysis of the organisations’ collaborations for 245 European NUTS-II regions from 1990 to 2016. Panel regression analyses reveal that (1) a more locally oriented and less dense region-internal network, (2) a more diverse set of region-external linkages, and (3) a higher share of single applicants in a region are positively associated with the emergence of new technological specialisations. These findings highlight the importance of maintaining a balance between the organisations’ inward and outward orientation to acquire new technological specialisations. Regions must leverage both internal technological capabilities and external networks to foster processes of technological renewal.