|Author (Corporate)||Council of the European Union, European Parliament|
|Series Title||Official Journal of the European Union|
|Series Details||L 97, Pages 1-12|
Regulation (EC) No 294/2008 - also known as EIT Regulation, adopted by the European Union on 11 March 2008 - which establishes the European Institute of Innovation and Technology.
The European Institute of Innovation and Technology (EIT) aims to strengthen the innovation capacity of European Union (EU) countries by integrating higher education, research and innovation and promoting synergies and cooperation between them, in line with the highest standards. Amongst other things, it contributes to the funding of ‘knowledge and innovation communities’ (or KICs), made up of higher education establishments, companies, research institutes and other parties working together on innovative projects. This Regulation establishes a financial envelope for the period 2008-2013.
The proposal for the creation of the EIT was put forward by the European Commission on 18 October 2006, following an invitation by the European Council in June 2006 to prepare such an initiative. The plenary of the European Parliament adopted its position on the draft law in September 2007. The Council of the European Union adopted its common position on the proposed text on 21 January 2008. Following a number of amendments, the Parliament endorsed the proposal in second reading on 11 March 2008.
|Subject Categories||Culture, Education and Research|
|Keywords||Research and Innovation
|International Organisations||European Union [EU]|