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Saturday, May 28, 2016
New MOU to Allow Israel and the US to Align Their Innovation Programs

First of Its Kind Innovation Agreement Signed between Israel Innovation
Authority and United States Department of Commerce

NEW MOU WILL ALLOW ISRAEL AND THE US TO ALIGN THEIR INNOVATION PROGRAMS AND
INTENSIFY EXCHANGE OF KNOWLEDGE AND COOPERATION ON INNOVATION

In the framework of the Joint Economic Development Group (JEDG) – the
highest-level inter-governmental economic forum between the American and
Israeli governments – the US and Israel signed a new cooperation agreement.
The deal is intended to help map and align existing support frameworks of
industrial R&D and innovation in both countries, so that R&D partnerships
can be established and fostered.

Jerusalem. Thursday, May 26th, 2016 – A first of its kind umbrella agreement
has been signed between the Israel Innovation Authority and the US
Department of Commerce. The deal was signed during an intergovernmental
conference involving representatives from Israel and the US. The JEDG was
headed this year by US Assistant Secretary of State for Economic and
Business Affairs Charles Rivkin on the American side and by Director General
of Israel’s Finance Ministry Shai Babad on Israel’s side. The agreement was
signed by Chairman of the Israel Innovation Authority, Mr. Avi Hasson and by
Mr. Kenneth E. Hyatt, Deputy Under Secretary for International Trade at the
US Department of Commerce, in the presence of US Ambassador to Israel Dan
Shapiro, Bank of Israel Governor Karnit Flug, Deputy Director at Israel’s
Ministry of Foreign Affairs Jeremy Issacharoff and sixty other senior
officials from both countries. The deal is intended to leverage aid programs
and sustainability programs in the US and Israel that are implemented by the
Israel Innovation Authority through its Americas Operations and US
Department of Commerce agencies to promote cooperation between companies,
researchers, entrepreneurs and investors, beyond existing frameworks (i.e.
the BIRD Foundation and bilateral programs with US states).

According to the Chairman of the Israel Innovation Authority, Mr. Avi
Hasson, the new agreement constitutes another opportunity to establish
entrepreneurial, technological and R&D ties between Israel and the US: “In
fact, this is the first agreement between Israel and the US on the federal
level that focuses specifically on innovation," said Hasson. "Innovation
ties between Israel and the US have existed for 40 years as a bilateral
economic catalyst, but until today, there was no framework of cooperation on
innovation amongst government programs. We see this agreement as a
significant achievement that can help leverage aid and sustainability
programs in the US and Israel and to promote cooperation between companies,
researchers, entrepreneurs and investors beyond the extensive tools already
in existence.”

Director General of the Israeli Finance Ministry Shai Babad said: “This year
we mark the 31st session of the JEDG. Since its establishment we have seen
great progress. We are looking forward to joint activity with our American
colleagues while expanding Israel’s horizons in the field of green energy.
Our accomplishments last year led to the signing of a memorandum of
understanding between the Israeli Health Ministry and its American
counterpart regarding cooperation in the fields of health, medicine, science
and others. In addition, during this conference, the US Department of
Commerce and the Israel Innovation Authority signed a memorandum of
understanding on innovation. We expect to continue our fruitful cooperation
in the future.”

US Asst. Secretary of State for Economic and Business Affairs Charles Rivkin
said: “Our dialogue shows that both countries are committed to facing global
challenges together. Israel and the US share a deep commitment to innovation
and entrepreneurship, both essential tools in our bilateral cooperation and
in the fight against climate change.”

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