Abstract
European Institute of Innovation and Technology
Innovation is the key to growth, competitiveness, and social well-being in the 21st century. The capacity of a society to innovate is crucial in an ever more knowledge-intensive economy.
The European Institute of Innovation and Technology (EIT) aims to enhance Europe's ability to innovate, which translates into adapting quickly to the fast pace of development, being one step ahead in providing solutions to rapidly emerging societal problems and developing products that meet the demands and desires of consumers.
In this and in the forthcoming issues, we will explore EIT strategy and the tools used to reach it.
EIT Headquarters
European Institute of Innovation and Technology, Infopark, Building E
1 Neumann Janos utca
1117 Budapest, Hungary
Tel: +36 1 4819 300
Fax: +36 1 4819 399
Web site:
The main instruments used by EIT to support innovation in Europe are the Knowledge and Innovation Communities (KICs): A KIC is a highly integrated, creative, and excellence-driven partnership that brings together the fields of education, technology, research, business, and entrepreneurship in order to produce innovations and innovation models that inspire others to emulate it.
They are to become key drivers of sustainable economic growth and competitiveness across Europe through world-leading innovation. The KICs will be driving effective “translation” between partners in ideas, technology, culture, and business models, and will create new business for existing industry and for new endeavors.
KICs are legally and financially structured entities of internationally distributed but thematically convergent partners. These partners involve key actors from the three sides of the knowledge triangle: research, higher education, and innovation-entrepreneurship-business. KICs build innovative webs of excellence across the knowledge triangle with the intention of addressing key societal challenges. KICs must address a long-term horizon of 7 to 15 years, but with short-, mid-, and long-term objectives that follow the mission of the KIC.
The relationship between the KICs and the EIT in Budapest is organized on a contractual basis, leaving a great degree of autonomy to the KICs to define their own legal status, internal organization, and working methods.
KICs bring together different people working together across the innovation web. Key actors include: businesses (including SMEs); entrepreneurs; research and technology organizations; higher education institutions; investment communities (private investors and venture capital); research funders, including charities and foundations; and local, regional, and national governments.
According to the EIT regulation, the activity of a KIC must involve at least three independent partner organizations. The partners must be established in at least three different EU Member States, and must include at least one higher education partner and one private company. With the intention of strengthening the innovation capacity, KICs may also include non-Member State partners.