European Institute of Technology (EIT)

The starting point of this initiative is to reduce the current fragmentation of innovation ecosystems all over Europe. Consequently this initiative provides for renewed and reinforced coordination and cooperation mechanisms with Member states and associated countries but private initiatives can also be included.

With an ecosystem they are looking at the broader sense of the word so it not just about innovative people but also about infrastructure and processes. The end goal is to create a flow of information, resources, knowledge and talent within the ecosystem which should lead to sustained co-creation and breakthrough innovations in the longer run.

A total budget of 500 million EUR is foreseen for this part of the third pillar.