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Ontotext won funding for €1.4M, bringing the total financing secured for R&D in AI to €3.1M

Post

29 Oct 2018

Subject

Sirma Group

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Ontotext is proud to announce a very successful ending of Q3 for its research activities. Three proposals with the involvement of the company were approved for funding under the H2020 program of the EU Commission in Q3 2018: WeVerify, EXA MODE and InnoRate. The total amount of the financing for Ontotext in these projects is 1 386 000 EUR. WeVerify will be the first to start on December 2018, while EXA MODE and InnoRate will start in January 2019, subject to finalization and signing of the consortium agreements and grant agreements.

Earlier, in Q2 2018, Ontotext won financing and started work on the Intelligent Matching and Linking of Company Data (CIMA) project. The financing for Ontotext in this project is 779 605 BGN (approx. 398 498 EUR). This way, the amount of new R&D funding, which Ontotext secured in 2018, increased to a total of 1.8M EUR.

In July, a consortium including Ontotext won the Technology Research Review (TRR) tender of the European Commission. The maximum available budget for the TRR framework contract is 4.0M EUR for a period of 4 years. The detailed work plan for the first phase of the project from October 2018 until April 2019 was negotiated and the corresponding Specific Contract 1 was signed on the 12th of October 2018. Ontotext’s part of the budget for the first phase is 465 000 EUR. The TRR project aims to enable the policy makers in research and innovation to access, analyze and disseminate the outcomes and impacts of the funded research results in a more comprehensive manner. A consortium including Ontotext won the TRR tender (2017/RTD/J5/OP/PP-05381-2017/TRR) with a proposal aiming to collect the best quantitative and qualitative information about 8000 projects and to determine the impact that the research results might have in the medium and long term.

CIMA, InnoRate and TRR will use Ontotext’s existing technology for matching descriptions of people, organizations, locations and other types of entities across different sources. CIMA will bring Ontotext’s company matching algorithms and products to a new level. In TRR, Ontotext will extend its Market Intelligence knowledge models with better capabilities for tracing and interlinking of inventions, products and investment transactions. InnoRate provides a challenging use case for benchmarking small innovative companies, based on a combination of structured profiles and market trends derived from diverse sources.

These new projects bring the total amount of financing secured to support Ontotext’s strategic R&D plans to 3.1M EUR for 2018 and the following years. These plans foresee the development of vertical knowledge models and specific applications for SENPAI – the enterprise AI platform of Sirma Group Holding (SKK:BLG). This financing is allocated by strategic verticals as follows: 1.9M EUR for Market Intelligence and Publishing and 1.2M EUR for Health Care and Life Sciences.

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