I actually think that an institute has much better chances of becoming space-capable than a virtual nation. People are much more likely to give their money to an organization with research purposes than to a group of people who are trying to replace their nations.
Private space agencies are on the rise nowdays and I think it’s just a matter of time until Virgin and SpaceX start sending people to space on their own. If companies can do that, why can’t an institute, if it’s wealthy enough?
I see no reason for us to assume that space colonization will totally nation-driven when all the latest developments seem to indicate otherwise.
It’s also important to keep in mind that the EISHEC won’t actually have to compete with power blocks since their “targets” for colonization will be different.
Yes, we’ve already established that the EISHEC will operate independently from power blocs and that it will be based on open-source hardware, so, I guess that mean it will share it’s technology with everyone.
EDIT: Anyway, Cosmosia could be the name of one of the jovian nations under EISHEC’s influence. That doesn’t sould bad.