EIT Digital

EIT Digital is a European innovation organization that promotes digital transformation in Europe. Its mission is to foster innovation and entrepreneurship in the digital economy. It focuses on five areas: digital technology, digital industry, digital cities, digital wellbeing, and digital finance. Its programs and services include educational programs, digital innovation activities, and venture capital investments. EIT Digital also works to build partnerships between industry, governments, and research institutions to accelerate the development of digital technologies.

EIT Digital is a digital innovation and entrepreneurial education organization supported by the European Institute of Innovation and Technology. It was created in 2010 as part of a European Commission initiative to boost European competitiveness and economic growth.

EIT Digital's mission is to foster digital technology innovation and entrepreneurship in Europe. It does this through a combination of activities, including funding research and development, providing education and training programs, and helping to create and grow digital businesses.

EIT Digital works with universities, research centers, companies, and other organizations to create a network of digital innovation hubs across Europe. These hubs promote the development of new technologies and help businesses apply them to their operations. They also organize educational and training programs, events, and competitions to help foster the development of digital skills and businesses.

EIT Digital also works with governments and European institutions to create public policies that promote innovation and entrepreneurship. These policies include initiatives to develop digital infrastructure, create incentives for research and development, and support the development of new digital business models.

Finally, EIT Digital works with investors to provide funding for digital projects and support digital businesses. This includes providing grants and venture capital investments to help businesses scale up and reach their goals.

The organisation’s initial strategy derived from the so-called innovation paradox that saw Europe lag behind other regions in turning exceptional research into industrial outcomes.
 

It therefore began life with the aim of turning Europe into a global leader in digital innovation that was capable of creating added value and high-quality jobs for Europeans.

It is a mission that was shared with many other European and national initiatives, but where EIT ICT Labs stood out was in traversing the knowledge triangle of education, research, and business to create an integrated and mutually reinforcing whole that enabled it to tackle the challenges and opportunities of the digital society.

EIT Digital aims to strengthen Europe’s position in the digital world by delivering breakthrough digital innovations to the market and helping to breed the next generation of entrepreneurial talent. 

The digital frontier is a constantly changing one, but it is their mission to help businesses and entrepreneurs be at the forefront of that frontier. These innovations are likely to include a continuation of the miniaturization trend that has already seen ever-smaller mechanical, optical, and electronic products and devices. 

This is likely to involve continued developments in areas such as quantum computing, nanotechnology and graphene. 

We are also likely to see the continued explosion of data, together with the use of artificial intelligence to make sense of that data. It will also see the widespread rollout of 5G technology, and the developments that will be made possible from this infrastructure, together with developments towards 6G towards the end of the decade. 

These developments will be accompanied by discussions, initiatives and policies to ensure that technology evolves in an ethical way that sees the benefits distributed widely across society rather than coalescing into the laps of a shrinking global elite. 

According to EIT: “We must aim to ensure that European values are strongly represented in the digital world, with European digital businesses at the forefront of the future. Europe will achieve this through robust support for the Digital Single Market, which will help to make it the de facto domestic market for European entrepreneurs.”

The organisation's main goals are:

1. Strengthen Europe's digital technology leadership by delivering innovative digital technology education and research, and by accelerating the growth of digital technology-driven businesses.

2. Promote digital technology-driven innovation and entrepreneurship in Europe by creating an open innovation ecosystem that connects technology providers and users.

3. Foster the development of digital technology skills and competences across Europe to build a strong digital talent base.

4. Support the development of digital technology platforms, tools and services in Europe to foster the growth of digital businesses.

5. Enable European industry to benefit from digital technology-driven innovation and to remain competitive in a globalised economy.

Through its activities and initiatives, it is contributing to the EU's Digital Single Market, creating a more open, competitive, and innovative digital economy in Europe. By bringing together the best minds and resources across Europe, EIT Digital is helping to create a stronger and more prosperous Europe.

Since its launch, EIT Digital has equipped more than 3,000 alumni and 120,000 MOOC learners with the skills to innovate and become entrepreneurs; EIT Digital has supported more than 370 startups and scaleups to grow internationally, created more than 180 new ventures, raised €900m for supported ventures, and launched more than 430 products and services commercially. EIT Digital’s ecosystem grew from 30 partners in 2010 to nowadays more than 300.