Hewlett Packard Co. (NYSE:HPQ) has joined the Office of the Chief Scientist's industrial cooperation program. Ten multinational companies already participate in the program, including IBM Corporation (NYSE: IBM), Microsoft Corporation (Nasdaq: MSFT), Coca-Cola Company (NYSE:KO), and the Renault Nissan Alliance.
HP's activity in Israel includes HP Israel Ltd.; HP Labs; HP-Indigo (a manufacturer of digital printers); its wide format printer division based on the acquisition of Scitex Vision, which recently acquired rival Nur Macroprinters; and HP-Mercury Interactive, the company's software division.
Under the agreement with the Chief Scientist, HP will provide certain benefits to participating Israeli companies, including the appointment of designated contact persons, sales, marketing and business development resources, help in writing business plans, consultancy services, technical aid and support with HP-made infrastructures, and participation in global cooperation programs.
Participating projects that meet Chief Scientist criteria will be eligible for financial assistance in R&D costs in joint projects with HP.
Chief Scientist Dr. Eli Opper said, "The need of international cooperation has actually increased during this time of slowdown in the global economy. We're offering a new way of globalization for Israeli start-ups, which dramatically improves their ability to survive and compete in the conditions of the global economy."
Published by Globes [online], Israel business news - www.globes-online.com - on November 5, 2008
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