Home Tech Israel, Singapore to support hi-tech companies’ joint projects

Israel, Singapore to support hi-tech companies’ joint projects

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JERUSALEM, June 10 (Xinhua) — Israel and Singapore will financially support joint projects of their hi-tech companies, the Israel Innovation Authority (IIA) said on Thursday.

Covering start-ups in all hi-tech fields, the support will finance joint research and development (R&D) projects or pilot programs.

Eligible companies will receive up to 1.5 million U.S. dollars for a joint project, and projects in the fields of healthcare, agriculture and food technology will receive increased grants.

The funding will be provided through the Singapore-Israel Industrial R&D Foundation (SIIRD), run by the government agency Enterprise Singapore and the IIA.

To receive the support, a joint project must be undertaken in Singapore and Israel, and each country is expected to contribute at least 30 percent of the total project work and expenses.

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