The EU wants to create a European Institute of Technology (EIT). The idea is inspired by the American Massachusetts Institute of Technology (MIT). The EU hopes to stop the brain drain of its best scientists and to attract brains & investors for technology research.
A European stakeholder EIT consultation is currently underway and will close on 15th November. Countries are already competing to host the institute. Irrespective of any EU decision, France has announced plans for the creation of its own institute in Paris. Science and Research Commissioner Janez Potocnik prefers to build a network of existing universities rather than create a new institution.