Bulgaria is Investing BGN 170 million for Artificial Intelligence

Business | April 11, 2022, Monday // 14:53
Bulgaria: Bulgaria is Investing BGN 170 million for Artificial Intelligence Pixabay

Over the next 10 years, the Bulgarian state will invest BGN 170 million in the first of its kind in Eastern Europe Institute of Computer Science, Artificial Intelligence and Technology INSAIT. It was established in partnership between Sofia University “St. Kliment Ohridski” and two of the leading technological universities in the world - the Swiss ETH Zurich and EPFL. INSAIT was officially opened today in Sofia.

The world's leading technology companies Google, DeepMind and Amazon Web Services recognize the importance of INSAIT for the development of research and innovation in Eastern Europe and for the first time support a similar project in the region with over BGN 12 million. Google and DeepMind will invest nearly BGN 6 million in INSAIT over the next three years, and Amazon Web Services - nearly BGN 7 million.

The vision of INSAIT receives full support from the technology sector in Bulgaria. To date, the institute has attracted funding of BGN 12 million from SiteGround - one of the leaders in the international web hosting market based in Bulgaria, and BGN 1.3 million from other well-known technology entrepreneurs and investors.

The architect of INSAIT is Prof. Martin Vechev from ETH Zürich - a leading world scientist in the field of computer science and artificial intelligence.

“When I graduated from Cambridge in 2003, I wanted to create a world-class center in Bulgaria like in Cambridge in 20-30 years. Through this institute Bulgaria will become a pioneer in Eastern Europe. Our priority goal is to revive and transform Bulgaria. Like other Western institutes, INSAIT has the potential to have a serious impact on the development of the economy, social policy and education in Bulgaria, as well as on the role and authority of the country,” said Prof. Vechev during the opening.

The ceremony was honored by the President of the Republic of Bulgaria Rumen Radev, Prime Minister Kiril Petkov, Federal Minister of Economic Affairs, Education and Research and President of Switzerland (2021) Guy Parmelin, EU Commissioner Mariya Gabriel, leading scientists from Switzerland, USA, Israel and Bulgaria , representatives of academia and business from Bulgaria and abroad. Among them were Turing Award winner (the Computer Nobel) Prof. Shafi Goldwasser of MIT and Berkeley, Nobel laureate and driver of the Israeli startup revolution Dan Shechtman.

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Tags: Artificial Intelligence, Bulgaria, investing, INSAIT
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