EIT a model for European innovation: Commission Report
The European Commission proclaimed the European Institute for Innovation and Technology (EIT) to be an effective, coherent and high-impact means of supporting innovation in a Mid-term Evaluation Report of the EIT published on 19 October.
“The EIT has successfully supported innovation in Europe via entrepreneurship, support to hundreds of start-ups, providing access to cross-border networks and to seed and growth funding. The first-wave KICs´ activities are leading towards visible results,” according to an Executive Summary of the report.
The Report highlights that:
EIT is the only EU body that fully integrates business, research and education and that this integration is crucial to effectively boost innovation in a pan-European way.
EIT has the potential to be a thought leader and a source of knowledge and good practice for policy makers and the broader European innovation community.
EIT Community delivers ground-breaking results, has supported hundreds of start-ups across Europe, enabling growth and innovation, and this will lead to important societal impact through job creation and an economic boost.
EIT’s existing Innovation Communities bring innovative solutions to key challenges in the areas of climate, digitalisation, energy, food, health and raw materials.
“The Mid-term Evaluation Report shows that the EIT works. We now have a unique and strong Community that has made significant progress in the last few years,” EIT Interim Director, Martin Kern, said. “I am particularly proud of the recognition of our success in supporting unique innovation hubs, start-ups and scale-ups as well as entrepreneurial graduates, and that there is recognition that the reason for setting up the EIT remains fully relevant. This is a strong foundation for us to build upon.”