The European Union has a common strategy for promoting innovation and the creation of technology-based companies in member states. A platform to discuss, analyze and promote initiatives that encourage innovation and promote competitiveness of firms, as well as a place to provide recommendations, publications and studies of interest on the subject.

One of the main programs for the creation of technology based companies and Spin-off in Europe is the PAXIS Program (http://cordis.europa.eu/paxis/src/home.htm), "The Pilot Action of Excellence on Innovative Start-ups. " This is an initiative that aims to promote the implementation and development of innovative companies and spin-off to boost economic development and employment growth in Europe. It has three levels of action:

• Thematic Networks: Twenty-two European cities and regions (including the Madrid and Barcelona are) that stand for supporting the creation and promotion of new businesses.
• Projects: aim to develop, validate and disseminate concepts to encourage the creation of start-ups.
• Accompanying measures: are designated to analyze and disseminate the results and to improve PAXIS practices throughout Europe.

Spain is involved in two of these thematic networks:

• SPRING, "Speed-up of Regional Innovation and Economic Growth". Its objective is to identify best practices based on:
  • The creation and development of innovative companies and spin-off.
  • Exchange information and practical knowledge.
  • Create synergies.
  • Coordinate and promote experience-sharing activities.

Madrid is integrated into this project with Cambridge, Stuttgart and Stockholm.

• PANEL. Its aim is to support young entrepreneurs from their places of study to create their own business. Participating cities are Barcelona, Dublin, Milan and Munich.