The EIT is a new initiative which aims to become a flagship for excellence in European innovation in order to face the challenges of globalisation. Europe must take this step because the continent already has excellent education and research institutions but too many of these resources are still effusing.
Today EU admitted Hungary's important function in the field of the Knowledge Triangle and declarated that the headquarters of EIT move to Budapest. The first meeting of the Governing Board is going to be in autumn 2008 and by the end of 2009 must do the selection and launch of the first Knowledge and Innovation Communities (KICs).
Find out more at http://ec.europa.eu/eit/