Innovation ecosystems are vitally important for facilitating sustainable regional economic growth and stakeholder cooperation, particularly within the circular economy. This policy brief examines the new digital monitoring tool developed by the Council of Tampere to compile relevant data on ongoing circular economy initiatives and actions, including information on essential actors, material flows and current stakeholder collaborations. This policy brief outlines the main aims and features of the digital monitoring tool and makes recommendations for how to support the development and management of effective innovation ecosystems, such as the importance of fostering a culture of open data sharing amongst key regional innovation actors.