Texas Science Institute: Bulgaria Has Bright Future in HiTech

Bulgaria has a great potential in the development of high technologies and should consistently pursue it, according to Texas Institue of Science CEO Laslo Olah.

Olah spoke to BGNES within his working visit to Sofia, hosted by the Bulgarian Academy of Science.

The Texas Institue of Science CEO and President commented that lamentably the climate in Bulgaria does not favor innovation and development, despite the country's high capacities in research.

"A good system is one that allows anyone that falls upon a good idea at 2 am will be able to share it on the next morning with someone who will be able to put it into work," said Olah.

Olah further argued for efforts on the part of the state to assist in the link between businesses and research, as well as to fund innovative projects.

"Give a chance to your academic science, do the reforms needed to connect it with industry and to fulfil people's ideas - because your people do have ideas!" said the Texas Institute CEO.

The Texas Institute of Science is an international network bringing together some 15,000 researchers, primarily from Eastern Europe and the former Soviet Union, and aimed at linking their work to businesses.

Over the past year, the embattled Bulgarian Academy of Sciences has faced a rough fight against the Bulgarian government, involving a stunning 40% budget cut and even threats of closure.

Among other things, the Academy has argued that the state needs to invest in the nation's research potential, in order to ensure consistent real growth of the economy.