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.