The construction of Sofia Tech Park will start in May or June and will finish by end of 2015 or beginning of 2016, said its executive director Elitsa Panayotova. 

At the place of the old barracks at Tsarigradsko Shosse boulevard in Sofia will be built 11 laboratories, which will develop scientific research, solve business problems and will serve as an incubator for startup companies. 

It will also contain public areas, a park, exhibition areas, visitor center and bike paths.

Sofia Tech Park has memorandums for cooperation with the Bulgarian Academy of Sciences (BAN), the Sofia Technical University, the Sofia University St. Kliment Ohridski, the Medical University in Sofia and the University of National and World Economy in Sofia.

It is expected that the project will receive funding of EUR 42.5 M from the future EU program Innovations and Competition, which will replace the current program Competition. The national co-funding is EUR 7.5 M.

The project is also financed by the Bulgarian company for climbing walls, Walltopia, which gave BGN 15 M.