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EIT – The European Institute of Innovation and Technology

Innovation is the key to growth, competitiveness and thus social well-being in the 21st century. It is also indispensable for finding new solutions to major societal challenges, such as climate change and renewable energy or the future of Information and communications technologies.

The European Institute of Innovation and Technology (EIT) aims to rapidly emerge as a key driver of sustainable European growth and competitiveness through the stimulation of world-leading innovation and with a strong impact on economy and society. The mission of the EIT is to grow and capitalize on the innovation capacity of actors from the three sides of the "knowledge triangle", that is higher education, research, business and entrepreneurship from the EU and beyond, notably via highly integrated Knowledge and Innovation Communities (KICs). 

KICs will form enhanced partnerships within the innovation web, sharing common strategies and objectives and going beyond traditional networks of innovation actors in terms of scale, ambition and life-span (7-15 years). They will seek to form strong innovation cultures and identities, driven by common visions and goals, and to build innovative "webs of excellence". 

The EIT is about creating a new European way to deliver economic growth through addressing major global and societal challenges, such as the future of the information and communication society, sustainable energy and climate change mitigation and adaptation. The EIT’s focus on impact is reflected in the concentration of activities in co-location centres, the strong focus on the leadership of KICs, simple approaches and the strong emphasis on entrepreneurship and entrepreneurship education. Innovative approaches will help existing European industries and SMEs to prosper, whilst also generating new businesses, updating skills, creating new jobs and developing new entrepreneurial talent. 

Source: EIT 2009, http://eit.europa.eu/