BOEMIE will pave the way towards automation of the process of knowledge acquisition from multimedia content, by introducing the notion of evolving multimedia ontologies, which will be used for the extraction of information from multimedia content in networked sources, both public and proprietary. BOEMIE advocates a synergistic approach that combines multimedia extraction and ontology evolution in a bootstrapping process involving, on the one hand, the continuous extraction of semantic information from multimedia content in order to populate and enrich the ontologies and, on the other hand, the deployment of these ontologies to enhance the robustness of the extraction system. The ambitious scope of the BOEMIE project and the proven specialized competence of the carefully composed project consortium ensure that the project will achieve the significant advancement of the state of the art needed to successfully merge the component technologies.