EU launches new hi-tech institute: The governing board of a new European Institute of Innovation and Technology (EIT) has held its inaugural meeting in the Hungarian capital Budapest.
The European Union is providing initial funding of more than 300m euros (£238m) for the institute, aimed at generating more European technological advances.
Background & Next Steps: Autumn 2008 :
First meeting of the Governing Board.
2009
By end 2009 :
Selection and launch of the first Knowledge and Innovation Communities (KICs). (Within a period of eighteen months from the nomination of the Governing Board).
2011
By the 30th June :
Submission of a draft Strategic Innovation Agenda (SIA) by the EIT Governing Board to the Commission.
By end 2011 :
Submission of the draft SIA by the Commission to the Council and European Parliament.
