The Balloon Experimental Twin Telescope for Infrared Interferometry (BETTII) is an eight-meter baseline far-infrared interferometer to fly on a high altitude balloon. The combination of the long baseline with a double-Fourier instrument allows BETTII to simultaneously gain both spatial and spectral information; BETTII is designed for spatially-resolved spectroscopy. The unique data obtained with BETTII will be valuable for understanding how stars form within dense clusters, by isolating individual objects that are unresolved by previous space telescopes and my measuring their spectral energy distributions. BETTII will be also used in future flights to understand the processes in the cores of Active Galactic Nuclei. In addition to these scientific goals, BETTII serves as a major step towards achieving the vision of space-based interferometry.