In the Commission's view, the EIT will conduct research and innovation activities in several strategic thematic areas, as well as, in science management. It will educate university graduates and postgraduate students. The EIT will strive to attract the best and most talented students, researchers and staff from around the world. All of them will work together with leading companies to develop and to use the latest knowledge.
Basic facts about EIT:
The EIT has two basic levels: the Administrative Board with little administrative support (based in Budapest) and a set of Knowledge Communities (KICs). The The EIT Governing Board has 18 members and consist of academics, business and inovation specialists. The first Chairman of the Steering Committee was Dr. Martin Schuurmans from the Netherlands (formerly Executive Vice President, Phillips Research / Phillips Medical System - PMS).
The EIT will act as a grant innovation agency. EIT's scientific and research activities will be immplemented through international associations of strongly integrated research laboratories (Knowledge and Innovation Communities, KICs).
The first three KIC's established in December 2009:
The financial support for the EIT's work from the EU funds allocated for the period 2009-2013 is € 308,7 million. This amount was used to create the conditions for starting an effective transfer of knowledge. In the next phase, the dominant part of KICs funding (more than 75%) is to generate funds from other resources. KICs will operate on an economical basis and will be funded by private-sector investments.