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After bouncing between the different EU institutions in various formats, the draft Regulation for establishing a European Institute of Innovation and Technology (EIT) was finally adopted by the Council of the European Union. The Competitiveness Council (the specific grouping of the EU Council that votes on research industry, and internal market issues), gave its go ahead on 23 November, also approving a resolution on modernising European universities (see another article in this newsletter).
EIT has been subject to wide debate (see ACA Newsletter - Education Europe April, June, July 2007). It has been designed to bolster the development and innovation capacity of the EU by stimulating the ‘knowledge triangle’. To clarify, the final decided structure of EIT will be the following:
Though still criticized as under-financed and abstract, EIT plans have come a long way since Barroso’s initial proposal. Hopefully all of the discussion will bear fruit in practice.