The European Union on Thursday authorized Germany to give $165 million for research on Internet search-engine technologies that could someday challenge U.S. search giant Google Inc.
The project is named Theseus and it has been designed to create an advanced multimedia search engine for the next-generation Internet.
The EU would also be paying the funds to companies including Siemens AG, SAP AG, Deutsche Thomson oHG and EMPOLIS GmbH for this research purpose. European companies in general spend far less on research than those based in other parts of the world, and the EU said the project should help change that.
Google spokeswoman Katie Watson had this to say on the new development: "We welcome all efforts to help democratize access to information."
Google has been aggressively working on enhancing it's multimedia search by including books, video content. Google's Book search beta edition is live from May last year and provides searching and rendering of books online. Google Video and Youtube lets searches on the rich media content including TV shows, movies, music videos, documentaries, personal productions and more.
The funding will help in bringing new strategy and technology for searching the multi-media content. Thanks EU. Other countries should also funds the local researchers and universities so that they can help researching in technologies that is most suited to the local market. It will also help in stopping monopolization the search market.