Israel and the Canadian province of Quebec have set up a $12 million Industrial R&D collaboration program. The program was launched during the visit to Israel this week by a 100-strong trade delegation from Quebec led by the province's Premier Philippe Couillard.
Quebec and the Israel Innovation Authority are each committing $3 million over 5 years to support Québec-Israel industrial R&D projects with a further $6 million (half from each country) from private research partners.
Couillard said, "We came here to learn about Israel's startup ecosystem and we hope this new program will help bring hundreds of Israeli companies to Canada. We don't talk about innovation just to tick boxes. Innovation must lead to action and a better future for all of us."
In preparing and implementing the program the Israel Innovation Authority is represented by Israeli law firm Yehuda Raveh & Co. and Quebec's Ministry of Economy, Science and Innovation by Dunton Rainville Avocats. The two law firms also signed a cooperation agreement between them.
Innovation was the theme of the Quebec trade mission, which included professionals from the aerospace, transportation, IT, and healthcare industries.
The week-long visit included tours and meetings by delegation members at Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT), Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1), Google Israel, Bombardier in Haifa, Mobileye, and the MIXiii BIOMED 2017 Conference and Exhibition in Tel Aviv.
Canadian Ambassador to Israel Deborah Lyons said, "Both countries can bond through innovation and learn from each other."
Hosting the delegation was Israel-Canada Chamber of Commerce chairman and Israel Infrastructure Fund chairman Adv. Yehuda Raveh and Israel-Canada Chamber of Commerce president and Bombardier Israel CEO Yossi Daskal.
In addition, during the visit, crowdfunding venture capital firm OurCrowd signed a memorandum of understanding in its offices in Jerusalem with HEC Montreal, the Business School of the University of Montreal, to cooperate and identify promising technologies and help commercialize and fund them.
Published by Globes [online], Israel business news - www.globes-online.com - on May 23, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017