In the EIT's amended Regulation and Strategic Innovation Agenda (SIA), the European Commission has presented a proposal that defines the framework for the EIT's operations for the period from 2014 to 2020. Following negotiations on this proposal between the European Parliament and Council, political agreement was reached on the future of the EIT (Regulation and SIA).
The adoption of the Horizon 2020 legislative package, including the EIT, is expected later this year. However, some key elements of the latest political agreement reached are listed below:
A budget for the EIT of approximately EUR 2.7bn for the period from 2014 to 2020.
There will be five new KICs, selected in three waves:
Two in 2014:
Innovation for healthy living and active ageing,
Raw materials - sustainable exploration, extraction, processing, recycling and substitution
Two in 2016:
Food4Future - sustainable supply chain from resources to consumers;
One in 2018:
The main principles underlying the EIT and KIC concept have been reinforced.