The Cotec Foundation for Innovation is a private non-profit organization whose mission is to promote innovation as an engine of economic and social development. Cotec has about 90 employers, between private companies and regional and local administrations. S.M. King Philip VI is the President of Honor. Since 2001 there has also been Cotec Italia, and since 2003, Cotec Portugal, which confer an international character on the impetus to innovation promoted by Cotec.