The EIT is today publishing the Principles for financing, monitoring and evaluating KIC activities.
The EIT is today publishing the Principles for financing, monitoring and evaluating KIC activities. The Principles form a key component of the documents prepared by the EIT to help those interested in forming a KIC and should be read alongside the Selection Criteria and the Framework of Guidance.
The EIT Call for KICs Proposals will be launched on 14 February 2014 followed by an Information Day in Budapest on 14 March 2014.
The EIT operates in a comprehensive legal framework, composed of the Horizon 2020 Framework Regulation, the Horizon 2020 Rules for Participation and EIT specific provisions established in the EIT Strategic Innovation Agenda, the EIT Regulation and its Financial Regulation. Based on this overarching framework, the EIT develops principles for financing, monitoring and evaluating its KICs with a view to:
- Contributing to EIT objectives
- Fostering KICs results
- Ensuring accountability and compliance
- Identifying opportunities for simplification
These principles reflect the EIT's 'investor approach', which stands for selecting a portfolio of world-class partnerships, the KICs, and incentivising each KIC to turn investment into tangible economic and social impact, such as the creation of new businesses and business opportunities, promoting a risk taking and entrepreneurial culture, and the creation of new and high quality jobs.
These principles provide a stable framework, while allowing for the necessary flexibility to reflect the progress and reality of the KICs, their thematic area and the EIT's quest for simplification.
For more information and access to all relevant documents on the EIT 2014 Call for KICs, visit the dedicated webpage.