EIT at a Glance
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.
Europe is facing a significant innovation challenge, where despite an excellence research base, dynamic companies and creative talent, good ideas are too rarely turned into new products or services. Europe needs a real change of mind-set towards the promotion of a more innovative and entrepreneurial culture.
The European Institute of Innovation and Technology (EIT) is a body of the European Union based in Budapest, Hungary. It was established by the Regulation (EC) No 294/2008 of the European Parliament and of the Council of 11 March 2008. It became operational in 2010 in its premises of the EIT Headquarters. The EIT currently employs approximately 50 members of staff and its Interim Director is Martin Kern since 1 August 2014.