KICk-starting European enterprise

After cutting its teeth with investments in energy and communications in 2010, the European Institute of Innovation and Technologyis making long-term plans for a move into the biopharmaceutical space. To do so, the institute has tapped long-standing board member Alexander von Gabain to become its chairman when founding chairman Martin Schuurmans steps down in September.

The European Institute of Innovation and Technology (EIT) was launched in 2008 as an autonomous grant-giving agency endowed with €308 million ($430 million) from the European Commission (EC). EIT's mission is to encourage entrepreneurship at European academic centers by funding academic-industry joint ventures called Knowledge and Innovation Communities (KICs)...