nowEurope

A vital step has been taken forward in promoting R+D, for Hungary, for Central Europe and the entire European Union. Budapest has been chosen to host the European Institute for Technology and Innovation (EIT). Work on the project, backed by a budgeted €308.7 million ($483.5 million), is due to start later this year. It will be the European organization with the aim to make Europe competitive on the world market and to push EU on the economic growth track.

The concept of EIT is to reinforce the partnership of the following triangle - universities, research
institutes and businesses. The actual work will happen within so-called Knowledge and Innovation Communities (KIC). By 2013 3 KICs will operate in three strategic areas - climate change, energetics and ICT. The fact that it is in Budapest, is a great chance for lobbying and better understanding of this challenging and ambitious opportunity.