As EIT’s knowledge and innovation communities approach financial independence, there are concerns any loss-making bits will be axed
EIT director Martin Kern. Photo credits: European Institute of Innovation and Technology (EIT) / European Union
The European Institute of Innovation and Technology ‘s (EIT) knowledge and innovation communities (KICs) are progressing towards financial sustainability, but there is a risk this comes at the expense of unprofitable education and outreach activities, according to a series of new reports.
The nine KICs are required to become financially independent of the EIT after 15 years. The first three – EIT Climate-KIC, EIT InnoEnergy, and EIT Digital – were set up in 2010, meaning their EIT funding runs out at the end of the year. Now, there is concern a focus on maximising revenues will lead them to cut activities which have social benefit but do not bring in money.
“While interviewees described both EIT InnoEnergy’s regional innovation hubs and education activities as successful in terms of the social…
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