Extending Successful Agreement to Increase Economic Growth
Israel and the province of Ontario, Canada are extending a Memorandum of Understanding with another $3 million each to support collaboration projects between Israel- and Ontario-based companies.
The renewed research and development agreement first signed 10 years ago will continue to support companies to initiate projects with a strong economic focus. It also includes a new call for proposals for joint research and development initiatives. These initiatives will help create jobs, advance the commercialization of new products and improve existing products and services in Ontario and Israel.
Ontario companies receiving funding under the program have so far had an economic impact of more than $50 million for the province in sectors that include:
- Medical devices
- Information and communication technologies
- Advanced manufacturing
- Clean technologies
- Life sciences
According to Reza Moridi Ontario Minister of Research and Innovation
The Government of Ontario recognizes that Ontario’s capacity to compete internationally and to create the jobs of tomorrow depends on collaboration. That is why we welcome this continued partnership with Israel. Connecting companies and researchers in Ontario and Israel will help both jurisdictions become more innovative and productive in a highly competitive global economy.
- To date, Ontario has approved $4.4 million in funding to support 15 joint R&D projects funded under the MOU.
- Through the principle of matched funding, projects under this program have helped leverage an additional $16.7 million from Israel, industry, institutional partners and federal sources.
- With the initial MOU signing in 2005, Ontario and Israel agreed to commit $3 million each to support strategic, industry-led collaborative activities. In 2010, both governments agreed to commit a further $3 million each.
Learn more about the Ontario-Israel Collaboration Program