FantasticSearch

1. By way of derogation from point (c) of Article 130(4) of the Financial Regulation, the EIT may establish a partnership agreement with a KIC for an initial period of seven years.

2. On the basis of a continuous monitoring of the KICs in accordance with Article 10, the EIT shall, under the supervision of the Governing Board, conduct interim reviews of the performance and activities of the KICs covering the first three years of the partnership agreement. In the case of an extension of the partnership agreement, the EIT shall conduct such interim reviews covering the first three years following its extension. The Governing Board shall make those interim reviews public.

3. Before expiry of the seven-year period referred to in paragraph 1, the EIT shall, under the supervision of the Governing Board, conduct a comprehensive assessment of the performance and activities of each KIC, with the support of independent external experts.

4. After consulting the MSRG, the Governing Board may extend the partnership agreement for a further period of up to seven years or discontinue the EIT’s financial contribution and not extend the partnership agreement with a KIC on the basis of:

(a) the outcome of the interim review referred to in the first subparagraph of paragraph 2; and (b) the outcome of a comprehensive assessment referred to in paragraph 3. The EIT shall inform the European Parliament and the Council before extending the seven-year period referred to in paragraph 1.

5. For the purpose of deciding whether to extend the partnership agreement with a KIC under paragraph 4, the Governing Board shall take into account the criteria for implementing, monitoring and evaluating the European Partnerships set out in Regulation (EU) 2021/695 and, with regard to the KICs, the following matters:

(a) their relevance to the Union’s global challenges;

(b) their Union added value and relevance with regard to the objectives of the EIT;

(c) the achievement of their objectives;

(d) their efforts to coordinate their activities with other relevant research and innovation initiatives;

(e) their capacity to ensure openness to new members;

(f) their achievements in attracting new members from across the Union;

(g) their compliance with good governance principles;

(h) their efforts and results in designing and implementing gender-sensitive measures and activities; and (i) their capacity to develop sustainable innovation ecosystems and the achieved level of financial sustainability.

6. In the event that the continuous monitoring, an interim review or the comprehensive assessment of a KIC referred to in paragraphs 2 and 3 of this Article shows inadequate progress in areas referred to in Article 10 or a lack of Union added value, the Governing Board shall take appropriate corrective measures, including the reduction, modification or withdrawal of the EIT’s financial contribution or the termination of the partnership agreement.

7. The EIT shall, under the supervision of the Governing Board, conduct a final review of the performance and activities of the KIC before the expiry of the partnership agreement. Subject to the positive outcome of a final review before the expiry of the partnership agreement, the EIT may conclude a memorandum of cooperation with a KIC.