This paper focuses on the strategic motives and firm characteristics that influence cooperation for R&D and innovation among Argentinean and Spanish firms. On the basis of a review of different theoretical perspectives we propose and apply a taxonomy of motives for inter-firm technological cooperation. We combined quantitative and qualitative methodologies, developing a database of 540 innovative firms and conducting a survey that obtained evidence from 104 of these firms, supplemented by information gathered from 19 in-depth interviews. Our results show that technological

cooperation is not easy to achieve and determined by a complex interplay of intentions and practical opportunities. The lack of convergence in the motives for cooperation creates un-favourable conditions and affects negatively the initiation of the cooperation processes. These differences together with asymmetries in access to funding are important obstacles to cooperation with implications in the administration of national policy incentives and its regulation mechanisms.