Michigan and Israel Sign Joint R&D Agreement
This week, David Goodman, director of the Ohio Development Services Agency, and Israeli Consul General Yaron Sideman signed a Memorandum of Understanding promoting joint industrial R&D between Ohio and Israel. The agreement will allow companies in both states to collaborate on technology development, receiving funding from both Ohio and Israel.
Here is more from the press release:
“This is a great opportunity for companies in the state of Ohio,” said David Goodman, director of the Ohio Development Services Agency. “We will be looking for opportunities for Israeli companies and Ohio companies to work together to expand and enhance commercialization of technology innovations to grow jobs.”
A strong trade relationship already exists between Ohio and Israel. Two-way trade between the countries exceeded $465 million in 2013.
“In times of global competition Research & Development is essential for economic growth,” said the Honorable Yaron Sideman, Israeli Consul General. “This commitment to work together is intended to enhance collaboration between the two states to foster economic development for Ohio and Israel”.
Hi-tech continues to provide opportunities for U.S.-Israel commercial partnerships, specifically in information and communications technologies, safety and security equipment and services, renewable energy technologies, defense equipment, medical technologies and biotechnology products.
Israeli technology innovations are a good fit for Ohio companies which excel in manufacturing and supply chain expertise. This partnership shows the mutual interest of Israel and Ohio in both their approaches to commercialization and industrial research and development. The agreement will be administered through the Development Services Agency’s Office of Technology Investments and the Office of the Chief Scientist of the Israeli Ministry of Economy.
Israel is Ohio’s 28th largest export market in 2013. Ohio firms exported $219 million worth of products to Israel in 2013, a 7.2% increase from 2012.
To learn more about the agreement and how companies can benefit from the agreement, contact Daniel Blumenthal.