The Institute for Management of Innovation and Technology was established in 1979 through co-operation between the Swedish Institute of Management (IFL), Chalmers University and Technology, the Stockholm School of Economics, the Royal Institute of Technology, and Lund Institute of Technology. Since then IMITs aim has been to prusue and promote research and development in technical and industrial renewal and administration, as well as participating in traning in this sphere. IMITs research is primarily concerned with how the benefits of technical development can be improved by providing knowledge of industrial management and economics. IMIT acts as a creative link between the development of scientific knowledge in academia and actual industrial renewal work. The purpose is to facilitate the collaboration and knowledge exchange between the two cultures on which industry largely is based, namely, technology and engineers on one side and management experts and economics on the other.