Brussels, 19/09/2005 (Agence Europe) - On 16 September the European Commission launched a public consultation on whether and how to create a European Institute of Technology and how this could strengthen research, education and market innovation in Europe. The idea of establishing a European Institute of Technology (EIT) was mentioned in the Commission's mid-term review of the Lisbon Process in February 2005 and the European Council took note of the Commission's intention in March. Technological advances and the application of high-level scientific research are crucial drivers of economic growth and employment prospects. However, despite promising initiatives, there has been a difficulty in translating these achievements into competitive advantages for European enterprises. The European Commission acknowledges that Europe is “falling behind when it comes to the creation, dissemination and application of “new knowledge”. The Commission also deplores the brain drain to the US and Asia, which are more successful in forging innovative partnerships between industry leaders and research community attracting top international researchers to pursue both fundamental and applied research. According to Ján Figel', European Commissioner in charge of Education, Training, Culture & Multilingualism, “a European Institute of Technology could play an innovative role in supporting knowledge transfer, attracting the best researchers and companies from around the world to work in partnership”. The public consultation will focus on 'first order' issues: the EIT's key missions, objectives, added-value and possible structure. The public consultation will run until mid-November, and will feed into a wider analysis by the European Commission services. The Commission will then consider whether it wishes to take the matter further, and may then prepare a paper for the Spring European Council in March 2006. If the idea of the establishment of an EIT were to be approved by the European Council, the Commission would make a formal legislative. Online consultation is available at: (http: //europa.eu.int/yourvoice/ipm/forms/dispatch?form=EIT).