REWAISE will create a new “smart water ecosystem”, mobilising all relevant stakeholders to make society embrace the true value of water, reducing freshwater and energy use, resulting in a carbon free, sustainable hydrological cycle, to transition into a resilient circular economy. A network of nine living labs, involving 5 major water utilities, demonstrates real-life, large-scale operational environments for technological innovations and new governance methods to secure a resource-efficient water supply for the EU. New business niches will be created, incentivizing water-related investments, and accelerating SME growth, by linking users with specific water needs, incorporating life cycle and cost assessments, and collective action in new governance frameworks for smart value creation and high social returns. By incorporating paradigm shifts from a linear Roman heritage to a new circular, water-smart economy, REWAISE reveals the full Value of Water for Europe, considering 3 key components of the economic and societal value generated by integral water cycles: • Value in Water: is accomplished by extracting and putting to beneficial use dissolved substances such as nutrients, minerals, chemicals and metals, as well as organic matter and energy, embedded in raw and used water streams. • Value from Water: encompasses the economic activities inherent to the water cycle, related products and services that generate benefits and jobs, directly or in other sectors that depend on water, such as energy and transportation, • Value through Water: the societal, health and well-being functions of water, which will be enhanced by inter-linking users, regulators, water operators and other stakeholders in electricity and chemicals markets through a digital platform that optimizes decision making and business opportunities through socio-economics-based coordination between them, while minimizing emissions , risks and vulnerability.