The European Institute of Innovation and Technology (EIT) is an independent EU body established in 2008 to strengthen Europe's innovation capacity. The EIT focuses on integrating education, research, and innovation across Europe to address global challenges. Its strategic focus areas include climate change, digitisation, sustainable energy, health innovation, and more. The EIT has a significant financial resource base, with €9.5 billion invested in ventures and €2.965 billion earmarked for its Strategic Innovation Agenda 2021-2027. Typical project financing can range from several hundred thousand euros to millions, depending on the scope and impact of the project. To receive funding, projects must align with the EIT's strategic objectives, demonstrate innovation and entrepreneurial potential, and involve collaboration between education, research, and business partners. Recent projects and organisations financed by the EIT include the European Solar Academy, EIT Water, and EIT Food, among others. The EIT's activities are designed to benefit EU citizens and businesses, fostering sustainable economic growth, competitiveness, and job creation. Its initiatives aim to support start-ups, scale-ups, and SMEs, as well as develop new products and services that address pressing societal challenges.
European Institute of Innovation and Technology (EIT)
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