Brussels, 15/04/2016 (Agence Europe) - Changes in legislation are required to make the work of the European Innovation and Technology Institute (EIT) more effective and relevant, says a report by the European Court of Auditors unveiled on Thursday 14 April.
Examining the way the EIT operates and how it spent its budget, which totals €2.7 billion in 2008-2020, the Court of Auditor's auditors found it difficult to detect the 'pioneering' and 'innovative' aspect of its work, at least in terms of the objectives set at its inception in 2008. Above all, they criticise “a complex operational framework and management” due to the high staff rotation rates, operational reliance on the European Commission and the fact is it not possible to get a clear idea of the outcome and impact of its work.
The EIT was set up to to bring together the worlds of education, science and business to be “creative and innovative”. It is not projects themselves that are financed (as happened with the European Council for Research) but rather subsidies are granted to autonomous partners grouped together in Knowledge and Innovation Communities or KICs.
The member of the Court of Auditors responsible for the report, Alex Brenninkmeijer, is far from convinced about the institute's effectiveness, commenting. “If the EIT wants to become the ground-breaking innovative institute it was originally conceived to be, significant legislative and operational adjustments are required to better foster the EU's innovation potential”. Changes are needed in its financing model because it is unnecessarily complicated because it includes KIC activities (thus far small in value) not funded by the EIT but the way the subsidies are paid does not mesh well with innovation. Without sufficient invovement form companies, the financial sustainability of the KICs is doubtful. (Original version in French by Jan Kordys)