EIT signs Memorandum of Cooperation with its first three Knowledge and Innovation Communities

The European Institute of Innovation & Technology (EIT) has signed a Memorandum of Cooperation (Mo C) with its first three Knowledge and Innovation Communities (KICs): EIT Climate-KIC, EIT Digital and EIT Inno Energy. The Mo C establishes that each KIC will continue to offer activities aligned with the EIT model (education, innovation and business creation) and remain part of the EIT Community as financially sustainable ecosystems, as their fifteen-year partnership agreements expire in 2025.  As an integral part of Horizon Europe, the EIT has strengthened the European Union’s competitiveness and growth since its inception in 2008. Through its large innovation ecosystem, the EIT is driving innovation to solve societal challenges. By establishing Knowledge and Innovation Communities (KICs), partnerships focused on thematic areas, the EIT has been able to support over 9 900 ventures, launch over 2 450 new products to market and train hundreds and thousands of learners in new skills. Thanks to early business creation support, EIT- supported companies and start-ups are currently valued at over EUR 72 billion. EIT Knowledge and Innovation Communities are built to become financially sustainable over a 15-year period, leveraging close cooperation between education, research and business. An independent assessment found that the first three KICs have pioneered the EIT innovation model, reaching their 15 th year of operation in good financial health, and that they have achieved...