David Goodman, director of the Ohio Development Services Agency, and Israeli Consul General Yaron Sideman signed a Memorandum of Understanding promoting joint industrial R&D between Ohio and Israel.
The agreement is intended to advance industrial research and development collaboration between Ohio and Israel.
Officials said it will provide funding to Ohio and Israeli companies for joint projects in a variety of fields. A strong trade relationship already exists between Ohio and Israel. Two-way trade between the countries exceeded US$465 million in 2013.
Israel is Ohio’s 28th largest export market in 2013. Ohio firms exported US$219 million worth of products to Israel in 2013, a 7.2% increase from 2012. Israeli technology innovations are a good fit for Ohio companies which excel in manufacturing and supply chain expertise.
This partnership shows the mutual interest of Israel and Ohio in both their approaches to commercialization and industrial research and development. The agreement will be administered through the Development Services Agency’s Office of Technology Investments and the Office of the Chief Scientist of the Israeli Ministry of Economy.
