The EIT is the first EU initiative to fully integrate all three sides of the Knowledge Triangle (higher education, research and business) by way of so-called Knowledge and Innovation Communities (KICs). The integration of all three sides and the effective transmission and sharing of knowledge, information and skills for joint exploitation is crucial to delivering the jobs and growth opportunities that Europe is seeking, as excellent researchers, students and entrepreneurs working in isolation are much less efficient in delivering the results needed and wanted by the market and consumers.
Created in 2008, the EIT’s mission is to:
The EIT creates an unprecedented level of collaboration between innovation and excellence centres with the aim of boosting the innovation process:
By connecting European business and research, businesses stand to gain as they will be given fresh opportunities to commercialise the most up-to-date and relevant research findings, with the aim of giving Europe first-mover advantage in the latest technological and non-technological fields as well as in open innovation. In return, research organisations will benefit from additional resources, an enhanced networking capacity, and new research perspectives stressing interdisciplinary approaches in areas with strong societal and economic importance. By adding higher education into the mix, businesses will be able to take advantage of a workforce with skills tailored to their needs able to drive their market share forwards; and students will benefit from an education that will make them more attractive to future employers and also more apt at contributing to the development of those employers’ businesses.