Climate change, renewable energy, the next generation of information and communication technologies. Those might be the first subjects taken into consideration by the European Institute of Innovation and Technology (EIIT). Today, the EU assembly approved its institutive regulation. Finnish MEP Reino Paasilinna illustrated the parliamentary report defining the tasks and the organization of the new institution. "Its objective is fostering sustainable economic growth and competitiveness in Europe": by strengthening enterprises’ abilities to innovate, and by supplying "enterprises, including the small and medium-sized enterprises, with expertise and projects". Particular tasks are reserved for the integration between secondary education and university education, research and applied innovation, the so-called "knowledge triangle". According to the regulation, the Institute of Innovation and Technology will also have to "carry out sensitization activities in favour of potential partner organizations, and to foster their participation in its activities". In that way, it will be possible to rely on public and private financing. The EU allocated 308 million euros for the Institute, for the period from 2008 to 2013.
