Bulgaria to Allot E25 M to Set up Nanotechnology Company
Bulgaria’s cabinet decided to set up a state-owned company dealing in nanotechnology. The venture will be called Bulgarian Centre of Nanotechnology JSC and its capitalization will amount to 25 million euros. “The creation of this company is a significant step towards building a research and industrial capacity in the fields of nanotechnology, nanomaterials, nanoproduction and micromachinery, which, undoubtedly, is going to have a positive overall effect on the economy of our country,” reads the rationale for founding the company. Expectations have it that by 2015, nanotechnology would be generating revenues of 2,95 trillion dollars. IBM will be a major partner in Bulgaria’s project.