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Today Europe has some 4000 institutes of higher education in 45 countries; 35% provide graduates in engineering. All institutes contribute to the creation of a knowledge-based society which is rooted in higher education, innovation and research. Europe's added value would be based on the new knowledge generated within the European Research Area. The ideal mechanism for knowledge creation and transfer is when the best universities will become the gold standard i.e. the excellence. Thus priority will be given to academic and research standards and the Bologna process assists in the implementation of this trend. University of Miskolc and its relevant Departments are striving for excellence by four new Research Centers in Engineering. They improve both academic and research standards and in such a way contribute to knowledge society.