A new joint venture between Ontario and Israel to fund research and the commercialization of innovative technology will focus on cybersecurity in the financial services sector initially.
The province and Israel have each committed to investing $5 million over five years to fund a new program that aims to bring together the private sector and academic researchers to develop innovative technology to solve key issues for large, multinational firms. The $10-million joint investment will be matched by participating firms, bringing the program’s total funding to $20 million.
To start, the initiative will focus on cybersecurity in the financial services sector. The Toronto Financial Services Alliance and the Ontario Centres of Excellence Inc. (OCE), the latter of which is a government-funded organization that seeks to help commercialize technology, say they have identified Toronto-based financial services institutions that will participate in the first slate of projects. The details of these efforts will be announced as the projects are launched.
Please click here to view the entire article.