The Israel Innovation Authority has signed a declaration with the New York Center for Research, Economic Advancement, Science, Technology and Engineering NY CREATES as part of the Authority’s R&D Collaboration and Pilots programs with global research institutes.
The declaration was facilitated by the global NY office in Israel and signed during the joint Global NY/NY CREATES trade mission to Israel.
NY CREATES is a New York-based innovation center that specializes in advanced semiconductor R&D and accelerating the transfer of innovation to the business sector. NY CREATES also serves as a commercialization facilitator in advanced digital, analog and power technologies. The entity aims to further accelerate the growth of high-value, high-technology companies, by attracting entrepreneurs to New York State and supporting them through ideation, incubation and investment phases.
Within the scope of the agreement, NY CREATES intends to connect with Israeli innovations and research entities in the field of semiconductors.
The Israel Innovation Authority will support NY CREATES in identifying technological developments and scouting Israeli companies that fall within its sphere of activity, as part of the deal.
Israel will provide funding for the Israeli companies, while NY CREATES will support the US component of the collaboration.
“Collaboration is critical to innovation, which is why we are excited about our new partnership with the Israel Innovation Authority as we will work together on research and development to advance semiconductor technologies,” David Anderson, president of NY CREATES said in a statement.
“Israel has many promising early-stage companies with inventive new ideas, and NY CREATES has the world-class facilities and expertise to help transform those ideas into new technologies with real-world applications.”
Dror Bin, CEO, Israel Innovation Authority commented that against backdrop of a global semiconductors’ supply chain crisis, and the “US government backwind for investments within this specific sector” the Israel Innovation Authority had identified the opportunity to collaborate with the semiconductors research and development entity.
“This agreement will enable Israeli semiconductor companies to operate in some of the most advanced facilities worldwide and gain better exposure to the US market and other relevant global entities,” Bin said.