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Based on recent reports of a new agreement signed by the Israeli Innovation Authority (IIA) and NY Creates, a Center for Emerging Science and Technology Management, this new agreement can create breakthroughs for Israeli startup companies that have struggled in the past to find their footing in the US market.
Based on the agreement signed by the IIA and NY Creates, a R&D, innovation hub and commercialization facilitator in advanced digital, analog and power technologies, the Israeli Innovation Authority will find new Israeli technological developments for the US organization that fit under its main topics of interest, mainly those with advanced developments in the semi-conductor field, and will provide funding to these Israeli companies, while NY creates will connect them with relevant US personnel.
This agreement was signed in collaboration with the Foreign Affairs Department of the State of NY during a joint delegation visit to the bureau of NY creates in Israel. This agreement was signed as part of the IIA’s efforts to advance international cooperation and R&D at research facilities.
“The IIA saw a unique opportunity for a collaboration with a leading R&D center, in light of the international crisis in the semi-conductor field and the increased interest of the US government to invest in this sector,” explained Dror Bin, CEO of the Israeli Innovation Authority. “This agreement will allow Israeli companies from the semi-conductor field to work in several of the leading facilities in the world and be exposed to the US market and relevant international bodies of work.”
“Collaborations are an essential component in advancing innovation, so we are delighted from our new cooperation with the IIA,” said David Anderson, president of NY creates. “We expect that our collaborative work will help new companies and technologies to grow, expand to new markets and strengthen the semi-conductor industry in the US, Israel and the rest of the world.”
Reported on by chiportal.co.il.