Miodrag Kostić donates The Palace Of Science to Serbian society


The Palace of Science, Serbia’s first centre for scientific research and popularization of science, will open its doors thanks to a EUR 25 million grant from the Miodrag Kostić Endowment. The new building will house 19 research centres as part of a cooperation agreement with the Faculty of Electrical Engineering in Belgrade.

The Miodrag Kostić Endowment, which will open the first centre for scientific research and popularization of science in Serbia – the Palace of Science – was presented at the Faculty of Electrical Engineering in Belgrade in front of members of the academic and scientific community. With an area of 5,500 m2, it will be the largest centre of its kind not only in our country but also in the greater region. There will be many interesting, eye-catching, and interactive exhibits and content in one section aimed at popularizing science to the general public, particularly kids and young adults, and scientific research activities in another that will push the boundaries in the fields of electrical engineering, computer science, and software engineering.

In order to achieve this, Miodrag Kostić established an endowment that will gift the society with the EUR 25 million Palace of Science. This is the largest allocation of funds in the recent history of endowments. Speaking at the presentation of his father’s endowment, Aleksandar Kostić, a member of the Steering Committee, stressed the value of bolstering Serbian science and young scientists.
“The fact that science is being positioned as a catalyst for societal advancement makes me proud. Miodrag Kostić hopes that the Palace of Science will give a new generation of young scientists a chance to pursue careers in their home country and provide them with access to the finest working environments and creative spaces found in the world’s premier research centres – because they are the future leaders of Serbia’s scientific and technological progress. The Palace of Science will be a location that honours the creative, inquisitive, and exploratory nature of the human intellect while fusing curiosity with a passion for learning,” said Aleksandar Kostić.
The strategic importance of this project was emphasized by the Minister of Science, Technological Development and Innovation, Jelena Begović, PhD.

“Recognizing the value of funding science, the Government of the Republic of Serbia is attempting to establish Serbia as a hub for innovation and science. But there’s also a need to include the private sector in this process more. The foundation of the Palace of Science is an important milestone for the scientific community and evidence of the economy’s potential to make large contributions. In Serbia, endowments have a long and rich history and have played a crucial role in the advancement of innovation and research. Therefore, this is not just an investment in facilities, infrastructure and technology. This is an investment in our people. In our youth, our young talents, researchers and innovators. I passionately believe that the Palace of Science will serve as a driving force behind the advancement of research, innovation, and citizen-scientist dialogue in our nation,” said Jelena Begović, PhD, Minister of Science, Technological Development and Innovation.

The formal presentation of the cooperation with the University of Belgrade’s Faculty of Electrical Engineering, whose professors will oversee 19 research institutes in the Palace of Science, took place during the ceremony. Miodrag Kostić’s Endowment will provide them and their students with the best working conditions and equipment. The Dean of the Faculty of Electrical Engineering, Prof. Dejan Gvozdić, PhD, spoke about the importance of these centres.
“It is a great pleasure for the University of Belgrade’s Faculty of Electrical Engineering to be acknowledged as an institution that can best utilize its reputation to contribute to the Palace of Science and be dynamically integrated. The Faculty will tackle this project with utmost seriousness and a desire to repay the faith exhibited since it is the most renowned and respected educational and scientific research institution in Serbia specializing in electrical, computer science, and software engineering. We are confident that the initiatives and activities of our laboratories will make a substantial contribution to the Palace of Science’s scientific-popular, educational, and scientific-professional contents and increase public awareness of the value of innovative research in enhancing the standard of living, the environment, and society at large,” said Prof. Gvozdić.

The Palace of Science – The Miodrag Kostić Endowment will be located in one of the most beautiful buildings in the centre of Belgrade, on the corner of Kralja Milana and Kneza Miloša streets, and it will breathe new life into this cultural monument dating back to 1924. Its founder, Miodrag Kostić, is officially recognized as one of the most successful businesspeople in the region, but also as a great humanist and philanthropist engaging in countless socially conscious activities, and because of this and his desire to make a lasting impact on the local population, he is truly deserving of the moniker “modern endower.”