It had been argued in the past (Riba and Leyersdorff, 2001) that Catalonia’s innovation system lacked some of the essential features deemed characteristic of effective regional systems.19 This is why knowledge flows, as well as the market and non-market processes that facilitate such flows, were emphasised in the third Plan. However, Spanish level regulations limit Catalan academic institutions’ ability to develop their “third mission”. In response to real deficiencies and to such regulations, Catalonia has taken a number of institutional initiatives aimed at overcoming the resulting systemic weaknesses and limitations suffered by universities. In the course of the third Research Plan, the number of Catalan Research Centres grew from 12 in 2000 to 20 by 2005, and the number of ICREA researchers from 60 in 2001 to 135 in 2004.