The European Institute of Innovation and Technology (EIT) was established, on 11 March, 2008 by the European Parliament and the European Council. Its aim is to become a flagship for excellence in European innovation. EIT is the first European initiative to fully integrate the three sides of the ‘Knowledge Triangle’ (higher education, research, business innovation). EIT seeks to stand out as a world class innovation-oriented reference model, inspiring and driving change in existing education and research institutions. EIT was conceived to support future societal needs and has a market driven focus.