The document provides an update of the innovation processes, guidelines and instruments along with the exploitation activities and plans as defined in D2.2. interTwin is a project to co-design and implement the prototype of an interdisciplinary Digital Twin Engine (DTE), that enables the implementation of application-specific Digital Twins (DTs). In this deliverable, the progress of innovation management activities are presented. • For the Understanding the Market, Technological and Political Context the market analysis is expanded to provide a broader understanding of the upstream, horizontal and downstream markets and the relevance to interTwin, main stakeholders are listed including ongoing collaboration opportunities and actions, the progress of the External Expert Advisory Board meetings organization and feedback is provided. Also an annex provides the list of news tracked under technology watch • For the results collection and IP management, the detail of the 42 results collected at M22 is provided, including their ownership, IPR, access license. Key Exploitable Results information is expanded indicating the subcomponents included for each of them.• For the exploitation progress, the summary of the business modelling workshops organized is provided -including the early outcomes of the initial Business Model Analysis that helps to understand the exploitation strategy of the project and the work performed for involving SMEs and industrial parties. Also the progress of all the exploitation activities for each of the Key Exploitable Result is provided - including those for Further Research, the creation of new Products and Services (or the improvement of already existing ones ) and standardization efforts. Follow-up progress will be presented in subsequent deliverable D2.6 (M36) focusing on the sustainability plan and the exploitation success stories.