The draft law entitled “Establishment of the Hellenic Artificial Intelligence Factory – Joint Oversight by the Ministries of Digital Governance and Health” concerns the creation of the company “Hellenic Artificial Intelligence Factory S.A.”, operating under the trade name “Pharos AI Factory”. Its purpose is to develop a comprehensive artificial intelligence ecosystem that will strengthen the country technologically, scientifically, and commercially.
The new entity aims to develop and leverage advanced AI technologies, enhance research activities, and promote new forms of digital entrepreneurship. Through collaborations with both the public and private sectors, Pharos AI Factory will serve as a central hub for the production of AI solutions, tools, and services applicable across all sectors of the economy.
Operation, Role, and Funding
The organization will be overseen by the Minister of Digital Governance and will acquire legal status through registration with the General Commercial Registry. It will have the capacity to act as a direct beneficiary of European and national funding, facilitating flexible and rapid implementation of research and development projects.
Its funding will come from a combination of resources, with annual state participation not exceeding 50%. The draft law also provides for significant administrative, financial, and tax exemptions, aiming to reduce bureaucracy and boost investment activity in the field of artificial intelligence. Additionally, contracts related to research, development, and the transfer of intellectual property rights will be exempt from fees and levies.
