The implementation of innovation policies has been adopted at European level from a common perspective. The European Council (2000) established open methods of coordination (OMC) in order to gain mutual understanding and achieving greater convergence on innovation policies, constituting a benchmarking procedure.However, the development of benchmarking analysis for innovation policies faces two major inconveniences: the lack of accepted innovation policy frameworks and the existence of suitable indicators to measure their performance. This article has a twofold objective: on the one hand, conducting an analysis of the existing innovation policy frameworks, putting forward a set of innovation policies which could be used as reference for policy analysis and on the other hand, proposing a set of indicators for measuring their performance.