The University encompasses around 250 laboratories. mainly in the IT sector, employing young engineers who graduated from the University of Novi Sad. Some of these companies implement projects for large international corporations and have contributed to Novi Sad becoming recognized internationally as a "Software Valley". Project teams and prominent researchers from the University of Novi Sad have been the recipients of numerous international and national awards for the best technical innovations. There are several accredited centers of excellence at the University of Novi Sad. The BioSense Institute, formed within the Faculty of Technical Sciences, was proclaimed by the European Union as one of the thirty research institutions in Europe with the greatest potential in the field of bio-technologies. Its project ANTARES was the best ranked in Europe in 2016 within the program Horizon 2020.