Singapore and Israel to support hi-tech companies' joint projects

SINGAPORE/JERUSALEM, June 11 (Xinhua): Israel and Singapore will financially support joint projects of their hi-tech companies, the Israel Innovation Authority (IIA) said on Thursday night (June 10).

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 US$1.5 million 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. - Xinhua

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