European Parliament approves EIT
The European Parliament has voted in favour of setting up the European Institute of Innovation and Technology (EIT), meaning the body should be operational in summer.
The European Parliament has voted in favour of setting up the European Institute of Innovation and Technology (EIT), meaning the body should be operational in summer.
The European Commission launched the project in 2006, presenting it as a means to showcase European innovation and competitiveness around the world. Drawing on both public and private funds, the Institute will have a budget of some Euro 2.4bn to cover its first six years of operation, with the EU due to contribute €308.7m.
The regulation setting up the EIT is due to enter into force in April. The next stage will involve appointing the 18 experts who will make up the governing board. The procedure will take about four months.
It will be for the European Council to decide where the governing board should meet. Various MEPs have suggested Wroclaw in Poland, Budapest in Hungary or Munich in Germany.
Strasbourg has also been mentioned in this context, since a good few MEPs are tired of travelling from Brussels to Strasbourg, for one week in every month, on parliamentary business. They have suggested the European Parliament buildings in Strasbourg should be made over to become the headquarters of the new institute.
According to the European Commission, the decision on the location of the EIT headquarters should be taken in June.