EU technology school to turn ideas into income

RENATA GOLDIROVA

01.07.2008 @ 10:36 CET

EUOBSERVER / FOCUS - As part of its efforts to become the most competitive and dynamic knowledge-based economy in the world, the EU has agreed to set-up in 2009 a European Institution of Innovation and Technology (EIT).

The main idea behind the EIT - to be seated in the Hungarian capital, Budapest - is to pull together the best research centres and universities with the aim of translating their results into commercial innovation opportunities.

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Currently, argue the EIT's supporters, the academic sphere is often isolated from the business world.

"We offer co-operation [with business] so that the EU becomes more innovative," EU education commissioner Jan Figel told EUobserver, referring to the idea of pan-European partnerships of universities, research organisations and companies.

Under the agreed rules, three different organisations from at least two member states would participate in one of the EIT projects, selected by the institute's governing board - also responsible for steering its activities.

Brussels believes that such "knowledge and innovation communities" are the best way to attract bright young brains from within and beyond Europe into research and innovation. They are also expected to bridge the innovation gap between the 27-nation bloc and its major rivals, the US and Japan.

In 2006, the union invested 1.85 percent of GDP into research and development, still far from its 2010 goal of three percent. By contrast, the US spends around 2.7 percent.

The Budapest seat

Earlier this year (18 June), 27 EU ministers responsible for competitiveness agreed that Budapest was the most appropriate candidate to win the EIT seat.

Four other applicants were keen to host the administrative headquarters of the institute - Germany's Jena, Poland's Wroclaw, Spain's Sant Cugat del Valles, while Slovak capital Bratislava joined forces with Vienna in launching a cross-border bid.

The selected site - known as the Infopark - consists of two universities and a number of IT companies. There is to be active co-operation between the two sides, Soma Redei from Hungarian Academy of Science told EUobserver.

Mr Redei expects the EIT to become a "place for answers" that researchers may have regarding possible "networking."

"Roughly the same businesses operate in the US, so why does it work there and doesn't work here?" he asked, underlining that networking is something we need to learn from the US.

The institute will operate with a total budget of €2.4 billion from 2008-2013, with €308.7 million coming from EU coffers. In addition, the bulk of the investment is supposed to come from public and private partners as well as from the institute's own activities.

The Hungarian government committed itself to pay the rental fees of the building for twenty years and the salaries of approximately twenty employees of EIT for five years.