nnovation is hungry for big ideas, great materials and, crucially, the right people with the right know-how. The introduction of innovation into the market is essential for the prosperity of our society; as the world changes at an increasing speed, we need an increasing amount of it. So what exactly brings one to be a source of innovation? Well, there are three theories. The first one is referred to as the Eureka Moment, when an idea appears as if from nowhere. The second one emphasizes the idea that one should keep trying until she or he gets to her or his final result. Of course, sometimes, there can be a bit of luck, which brings us to our third theory: pure coincidence! That is when just the right person happens to be at the right place and time.

In reality though, for a great idea to get out into the wild, a bit of all three is needed. The right people are needed in the right environment to make the right coincidences in everyday occurrences. That’s where the EIT comes in. Since 2008, this project of the European Union has been bringing together talented people from excellent businesses, research institutes and universities from around Europe and providing them with supports and opportunities that allow innovation to happen. The number of EIT innovation hearts is growing, as the EIT continues to train a new generation of entrepreneurs and support a multitude of business ideas and young ventures.

The EIT’s concept is based on the knowledge triangle, which consists of research centers, universities and companies. Its goal is to form an efficient partnership between these three actors to ensure the best outcome and to contribute to Europe’s competitiveness in innovation and technology. It is willing to create an environment in which creative thinking would allow innovation and entrepreneurship to flourish in the Union.

1. EIT’s Values

There are several values proposed by the EIT in order for their organization to work efficiently. These are:

They act as a source of Inspiration for entrepreneurs and innovators to create future solutions through their knowledge and experiences. In order to boost Europe both economically and socially, the EIT is Passionate about the idea of bringing the previously mentioned actors together. This Institute Engages with plenty of stakeholders in order to ensure that ideas become a reality through an Open interaction. The EIT emphasizes Excellence in their work by having a results-oriented approach through their work with professionals. In order to help all these actors, the EIT presents itself as a Dynamic community, willing to help future innovators and entrepreneurs live up to their potential.

2. The KICS (Knowledge And Innovation Communities)

The KICs are a series of cross-border group projects aimed to increase Europe’s role in sustainable growth and competitiveness in the fields of innovation and technology. This programme focuses on the development of innovative products and services, the start-up of new companies as well as the training of a new generation of entrepreneurs.

The European Institute of Innovation and Technology is part of the Horizon 2020 programme, a case we will study in the following paragraphs.

3. The EIT In Horizion 2020

A single common strategic framework was created in 2011 by the European Commission. It brought together all of the previous research and innovation funding in the Union. Horizon 2020 started in 2014 nad has since then been a major factor in Europe’s technological and innovative advancements.

With nearly 80 billion euros of funding, Horizon 2020 is undeniably the biggest EU Research and Innovation programme. Its idea is based on the fact that Europe must invest in its research and innovation filed in order to gain a global competitive position. It does so by promoting economic growth and creating jobs.

Objectives such as societal challenges are strongly addressed by the EIT. This kind of initiative directly contributes to the Horizon 2020 programme.

By bringing together the best people from the best institutes all across the Union, the EIT stands out as a model to reinforce Europe’s competitive position in Innovation and Technology. It clearly serves as a dynamic way to bring together entrepreneurs and innovators in order to create the jobs of tomorrow.