The biggest research foundation in Greece and one of the most important in Europe, the Foundation for Research and Technology – Hellas (FORTH), is expanding into new premises in Chania. Two new buildings are to be erected on a site of 35 stremmata ceded to FORTH by the Technical University of Crete. One will house the Institute of GeoEnergy and the other a branch of the Science and Technology Park of Crete (STEP-C), which is devoted to technology transfer through the support of innovative spin-off companies, and the management and exploitation of intellectual property rights.