The Interreg program for European transnational cooperation aims to be a tool to encourage collaboration among the Union’s neighbouring countries and is oriented toward sustainable territorial development. However, cross-border cohesion policies often seem to favour large urban organizations, leaving SMEs and less structured and peripheral local actors in the background. In response to this issue, the Interreg Alcotra program has introduced an experimental call for microprojects, aimed at fostering the inclusion of new actors by reducing administrative and financial barriers to participation. This study therefore explores the first Alcotra Microprojects 2021–2027 call, investigating the design of the instrument, access mechanisms, and the profile of beneficiaries. Through document analysis, comparison with other funding instruments, and interactions with stakeholders, the research highlights that, although procedural simplification has indeed encouraged the participation of new actors and expanded the cooperation network, some challenges remain. The results suggest that microprojects can constitute an effective model for making cooperation policies more inclusive and oriented toward local development, but policymakers should improve the instrument’s operational aspects by further simplifying financial management and paying greater attention to the geographical distribution of beneficiaries. The analysis offers insights for the future improvement of funding mechanisms and the integration of innovative approaches into territorial cohesion policies.