EUROPEAN INSTITUTE OF INNOVATION AND TECHNOLOGY : PARLIAMENT GIVES FINAL GREEN LIGHT TO EIT.

Tech Europe, April, 2008

The European Institute of Innovation and Technology (EIT), a virtual establishment supposed to foster business investment in innovation and R&D in Europe, will start operating this summer. Three years after the controversial idea was originally floated, and after, in the words of EU Education Commissioner Jan Figel', "many coffees and many talks," the European Parliament gave the EIT its final seal of approval at the Strasbourg plenary session on 11 March.

The Parliament approved the setting up of the EIT by a large majority in second reading. The EU member states already adopted their common position on the EIT on 21 January, reflecting the agreement reached between the Council and the Parliament last November.

The EIT, forging partnerships between...

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