The European Institute of Innovation and Technology (EIT) is an independent EU body, with its headquarters in Budapest, which aims to strengthen the innovation capacity of the European Union. It plays a key role in supporting the objectives of the EU relating to the sustainability of economic growth and employment, since it allows entrepreneurs and innovators to turn their best ideas into products and services for Europe.

The EIT encourages entrepreneurial talent and provides support to new ideas, linking various parts of the 'knowledge triangle' formed by the leading companies, universities and research centres so that they form dynamic cross-border associations called Knowledge and Innovation Communities (KICs).