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The Union Cabinet has approved a Memorandum of Understanding (MoU) between India and Israel on India-Israel Industrial R&D and Technological Innovation Fund (I4F), said a government release.
India and Israel will contribute of USD 4 million each for the fund, both equivalent amount, annually for five years. The Innovation Fund will be governed by a joint board which will consist of four members from each country. The MoU was concluded in July 2017.
The MoU envisages promotion of bilateral Industrial R&D and Innovation cooperation in the fields of science and technology by extending support to joint projects for innovative or technology-driven new or improved products, services or processes.
Such projects will lead to affordable technological innovations in focus areas of mutual interest such as water, agriculture, energy and digital technologies. Institutional support in building up consortia including private industry, enterprises and R&D institutions from India and Israel will be enabled through these collaborative projects, it said.
The activities supported by the Joint Fund would increase the techno-economic collaboration between the two countries by investing in jointly developed technology projects and collaborations based on technological innovation, the release said.
Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.
http://www.indiainfoline.com/articl...and-tech-innovation-fund -117083100611_1.html
India and Israel will contribute of USD 4 million each for the fund, both equivalent amount, annually for five years. The Innovation Fund will be governed by a joint board which will consist of four members from each country. The MoU was concluded in July 2017.
The MoU envisages promotion of bilateral Industrial R&D and Innovation cooperation in the fields of science and technology by extending support to joint projects for innovative or technology-driven new or improved products, services or processes.
Such projects will lead to affordable technological innovations in focus areas of mutual interest such as water, agriculture, energy and digital technologies. Institutional support in building up consortia including private industry, enterprises and R&D institutions from India and Israel will be enabled through these collaborative projects, it said.
The activities supported by the Joint Fund would increase the techno-economic collaboration between the two countries by investing in jointly developed technology projects and collaborations based on technological innovation, the release said.
Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.
http://www.indiainfoline.com/articl...and-tech-innovation-fund -117083100611_1.html
