Council of the European Union

The European Institute of Innovation and Technology (EIT) is the research and development agency of the European Union. It brings together higher education institutions, research labs and companies to form dynamic cross-border partnerships, knowledge and innovation communities that develop innovative products and services, start new companies and train a new generation of entrepreneurs. It was founded in 2008 and is headquartered in Budapest, Hungary. The company seeks to expand its business operations through mergers and acquisitions.