|Established||11 March 2008|
|Mission||1. Increase Europe's competitiveness, its sustainable economic growth and job creation by promoting and strengthening cooperation among leading business, education and research organisations. 2. Power innovation and entrepreneurship in Europe by creating environments for creative and innovative thoughts to thrive.|
|Focus||Innovation & Technology|
|Chair||Gioia Ghezzi (Governing Board) and Martin Kern (Director)|
|Key people||Martin Kern (Interim Director)|
|Budget||€2.4 billion for 2014–2020|
Budapest (headquarters) and across the EU countries
The European Institute of Innovation and Technology (EIT) is an Agency of the European Union established in 2008 to strengthen Europe's ability to innovate. The EIT is an integral part of Horizon 2020, the EU's Framework Program for Research and Innovation.
There are currently eight Innovation Communities and each focuses on a different societal challenge:
Each of the EIT Innovation Communities operates in Innovation Hubs. These hubs are spread across the Europe to increase the impact of the EIT's activities. There are currently 50+ innovation hubs across Europe that include co-location centres, where education, research and business meet and interact with each other.
Since the EIT was set up in 2008, it has delivered by January 2014:
The EIT was officially established on 11 March 2008 following the adoption of the EIT Regulation by the European Parliament and Council.
The EIT Governing Board designated the first three EIT Innovation Communities (EIT Climate-KIC, EIT Digital and EIT InnoEnergy) in December 2009.
An initial budget of €308.7 million has helped launch and will continue to support the EIT network during the 2008–2013 period.
The EIT Strategic Innovation Agenda and the EIT's amended regulation, adopted by the European parliament and Council in December 2013, define the framework of the EIT's operations from 2014 to 2020. The strategy proposed a budget of EUR 2.4 billion within Horizon 2020.
The annual grant to the Knowledge and Innovation Communities is allocated on a competitive basis and may not exceed 25% of the global expenditure of the Innovation Communities. The remainder of the Innovation Communities' budget must be raised from other sources of financing.
To advance the innovation performance of more countries and their regions across Europe, the EIT Regional Innovation Scheme (EIT RIS) was introduced in 2014. It targets especially countries with moderate or modest innovation scores as defined by the European Innovation Scoreboard. Since its establishment, the EIT RIS, which is steered by the EIT and implemented by its Knowledge and Innovation Communities (KICs), has successfully lead to a significant expansion of EIT Community activities to more countries and regions across Europe, contributing to a pan-European spread of EIT Community engagement opportunities and networks.
The EIT Governing Board is the principal governing body, entrusted with the strategic leadership of the Institute and the overall direction of the operational activities implemented by the EIT Headquarters. It is independent and autonomous in its decision-making and is responsible for the selection, evaluation and support of the EIT Innovation Communities.
The EIT Governing Board has 12 members as well as one independent observer from the European Commission.
The EIT Headquarters are located in Budapest, Hungary, in the 11th district's Neumann Janos utca (Infopark, Budapest Science park).
In 2017, the EIT officially opened the EIT House in Brussels. The EIT House serves two purposes, to increase awareness of the EIT among its stakeholders, and provide a space for members of the EIT Community to network and interact.