The EIT was launched in September 2008 in Budapest where  its administrative headquater will be established in autumn 2009.

Aiming at a better integration of the knowledge triangle Research-Innovation-Education, the EIT is designed to become a key driver of sustainable European economic growth and competitiveness through the stimulation of top-class research and innovation.

The EIT has a two-level structure
- Governing Board (top-down component), for strategy-setting, set-up of KIC framework, selection/coordination/monitoring of KICs
- KICs (bottom-up component), clustering a critical mass of the very best research, innovation and higher education resources.

Knowledge and Innovation Communities (KICs)

KICs are thematically focused, excellence-driven, highly integrated, ambitious and longer term (7-15 years) partnerships, which
- include enterprises, universities, incubators and other research/innovation centers,
- consist of at least 3 independant partner organisations established in 3 EU Member States including at least one private company and one higher education partner, open to Swiss participations (additional partners),
- receive 25% funding from EIT, the resting 75% must be covered by matching-funds coming from other public and from private sources.

First KICs

A first call for proposals has been published in April 2009 for the creation of three first KICs in the following three priority domains:
- Climate change mitigation and adaption
- Sustainable energy
- Future information and communication society.
These KICs have been launched in June 2010.