Press Release: Commission welcomes Member States’ agreement on the European Institute of Technology

The Competitiveness Council has agreed on a general approach for the European Institute of Technology (EIT), proposed by the European Commission in October 2006. By combining the worlds of academia, research and business, the EIT will be a flagship for excellence in innovation, research and higher education. Subject to the European Parliament's agreement later this year, the EIT should be able to begin operations in 2008. It will be organised on the basis of ‘Knowledge and Innovation Communities’ (partnerships of universities, research organisations, companies and other stakeholders in the innovation process), and coordinated by a small governing structure.