BOSTON (AP) – Massachusetts and Israel have unveiled an agreement designed to encourage the development of collaborative projects in the life sciences, clean energy and technology sectors.
As part of the new Massachusetts-Israel Innovation Partnership, Massachusetts will commit nearly $1 million for Bay State companies that are engaged in industrial research and development projects with an identified Israeli partner company.
In return, Israel’s Office of the Chief Scientist will provide up to $1 million in matching dollars for the Israeli partner companies.
Gov. Deval Patrick said the deal will drive innovation and promote job growth in Massachusetts and Israel.
The administration said the deal was the result of Patrick’s 10-day trade mission to Israel and the United Kingdom in March.
Massachusetts is the first state to enter into such an agreement with Israel.
(Copyright 2011 by The Associated Press. All Rights Reserved.)