15/09/2008 (Agence Europe) - The European Institute of Innovation and Technology (EIT), an EU flagship initiative to stimulate innovation in Europe, began its work on Monday 15 September with an inaugural meeting of its Governing Board. The meeting was held in Budapest, which is the site of the Institute's headquarters. The Governing Board was due to reach a number of major decisions concerning the functioning of the Institute, including the election of its director and executive committee....