Israel to head the world’s largest R&D initiative

The “Eureka” initiative, a pan-European, inter-governmental initiative that sees investments of 1.5 billion Euros every year, has chosen Israel to head its world largest R&D network.

Israeli companies taking part in more than 10% of the Eureka program projects, worth 100 million Euros. In an event to be held in Berlin in two days (June 23, 2010), Israel will receive the official presidency, 150 new R & D projects will be approved, of which 23 are Israeli projects (project has a budget of one million Euros a year, for three years).

Israeli Presidency will promote investment of venture capital, regional banks and large investors – like the European Investment Bank – for marketing the projects.

Mr. Kedmi Sharon of Israeli Ministry of Industry said Israel will act to promote the R & D with Germany. He said that Israel will focus on four areas: information technology, pharma and biotechnology, cleantech and water. ”

The full article (Hebrew):

http://www.themarker.com/tmc/article.jhtml?ElementId=oc20100621_44058163

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