PAXIS manual of good practices published A manual describing the best practices in innovation policy design, financing and start-up creation identified during the PAXIS (pilot action of excellence on innovative start-ups) initiative has been published by the European Commission. PAXIS brought together 22 of Europe's... A manual describing the best practices in innovation policy design, financing and start-up creation identified during the PAXIS (pilot action of excellence on innovative start-ups) initiative has been published by the European Commission. PAXIS brought together 22 of Europe's most innovative regions to share their experiences and learn from each other's successes. Some 65 of the best practices are outlined in the new manual, which the Commission hopes will serve as an inspiration to innovation practitioners in other regions across Europe. 'The innovation experiences of the PAXIS regions have greatly contributed to promote start-ups and have opened the door to sustainable growth and to more employment,' said Commission Vice President, responsible for enterprise and industry, Günter Verheugen. 'Indeed, we need more such smart initiatives that link knowledge creation and innovative enterprises.' The good practices described in the manual mainly fall into three key areas: pre-seed and early stage financing, incubation and internationalisation, and technology transfer and spin-offs. Specific initiatives include the creation of regional business angel networks in Germany, Italy, France and Spain, and the establishment of a venture capital industry worth over 100 million euro in Slovakia, Latvia and Estonia, based on a successful Israeli initiative. The PAXIS initiative ran from 1999 to 2005 and was funded under the 'Research and Innovation' priority during the Sixth Framework Programme (FP6).
