European tech academy under scrutiny

European MPs will today have their say on the proposed European Institute of Technology (EIT), aimed at boosting innovation and research in the region.

The EIT was proposed in 2005 by European Commission president José Manuel Barroso to create a European equivalent to Boston's Massachusetts Institute of Technology.

The EIT is also seen by Barroso as playing a major part in the EU's 'Lisbon strategy' to create a knowledge based economy by 2010.

Members of the European parliament industry committee will meet to discuss the findings of a report on the proposal to determine whether the new institution would add value to the economy or undercut other research.

silicon.com Public Sector

Get the latest public sector news straight to your inbox. Sign up for the PS newsletter today!

The European parliament has warned the region is seen by some as declining in terms of science and innovation with India now producing a greater number of science graduates.

The EIT is seen as a way of stimulating innovation, education and research by encouraging closer co-operation between businesses, higher education and research bodies.

This will combat the "brain drain" of European talent to the US and elsewhere.

The current plan is for a governing board to run the EIT and select partnerships of universities, research organisations and businesses.

Recognised diplomas could be awarded to institutions participating in these Knowledge and Innovation Communities.

The EIT has been estimated to require €2.4bn in funding between 2008 and 2013, with the European Commission looking to public and private sources.

The MEP in charge of producing reports for the industry committee, Reino Paasilinna said Europe's "Achilles' heel" has been insufficient investment in research and development.

In his report on the initiative, Paasilinna said a pilot project is essential to establish the value of the proposal before anything more concrete is created.

He added the EIT could particularly help SMEs to benefit from innovation.