As reported in Port2Port: The agreement will give Israeli companies an opportunity to enter the American market through technological and strategic cooperation with leading Massachusetts companies
Israel and the American state of Massachusetts signed last week an agreement for increased research and development collaboration between Massachusetts and Israeli companies.
The signing of the deal last Thursday was inked between Israel’s Industry, Trade and Labor Minister, Shalom Simhon, and visiting Massachusetts Governor, Deval Patrick. The agreement will give Israeli companies an opportunity to enter the American market through technological and strategic cooperation with leading Massachusetts companies and through an established framework for partnership between business groups, the ministry said in a press release.
Governor Patrick said in a statement that the agreement “formalizes an already strong relationship,” and will help support job growth in both Massachusetts and Israel.Patrick added that the deal he signed with Israel’s chief scientist to foster life science and technology projects raises prospects for increased business exchange between Massachusetts and Israel.
The governor’s office said the memorandum of agreement will support job growth and strengthen ties between the state and its Israeli partners.Following approval from a committee made up of representatives from the two sides, companies will be able to apply for r&d grants from the Office of the Chief Scientist of Israel or its equivalent branch in Massachusetts.
The American state of Massachusetts is the home of several of the leading research universities in the world, including Harvard and MIT, Massachusetts is considered one of the main centers in the United States for technology innovation, particularly in the areas of life sciences, cleantech and information technology.