European Institute of Innovation and Technology to create more innovation hubs

The European Commission has allocated a budget of €2.8 billion in the next financial framework to enable the EIT to expand and consolidate the development of its existing KICs which focus on climate change, sustainable energy and ICT.

"The new package we are proposing for the European Institute of Innovation and Technology is great news for European business, research and academia. We are investing in creating the entrepreneurs of tomorrow and strengthening the innovation capacity of the EU so that we remain a match for the world's best," said Androulla Vassiliou, Commissioner for Education, Culture, Multilingualism and Youth.

The Commission also adopted a proposal for the EIT 'Strategic Innovation Agenda', which defines the framework for the Institute's operations in the years to come. The Commission expects it to provide an impetus for creating up to 600 start-up companies and for training 25 000 students and 10 000 PhDs in new curricula combining excellent science with a strong entrepreneurship component.