New spin-off at NTUA: EUCLIA – Modelling as a Service
The Senate of NTUA, at its meeting on September 23, 2021, approved the establishment of the company IKE spin-off of NTUA, under the name “EUCLIA– Private Capital Company” and participation of the Foundation in the shareholding of the company.
EUCLIA was created by researchers from the Department of Chemical Engineering of NTUA in order to utilize software products that have been developed in the context of the team’s activity in research projects, with professor Haralambos Sarimveis as scientific coordinator of the School. These products provide Modelling as a Service (MaaS) services and automate the processes of manufacturing, hosting and sharing computing models over the internet or through users’ servers.
The services that the company will provide include data analysis and management, the training and implementation of machine learning models and the development of specialized IT tools (Chemistry, Nanoinformatics, Pharmacoinformatics) for businesses and branches of industry related to life sciences, chemicals and advanced materials.
The specialized tools that the spin-off will provide can be used for the computational (insilico) prediction of properties of materials and medicines as well as possible undesirable effects on health and the environment. They contribute substantially to savings in these industrial sectors, by speeding up the processes of discovering new effective but at the same time safe to use medicines, materials or products, while minimizing the need for conducting animal experiments.
EUCLIA is the third spin-off founded at the NTUA in just a few months, highlighting the strong potential that has been developed at the Foundation for the business exploitation of the innovative knowledge produced in the NTUA and the interconnection of research with production.