JERUSALEM, Dec. 10 (Xinhua) -- Israel's Innovation Authority and the Brazilian Agency for Industrial Research and Innovation announced Monday the establishment of a new partnership.
The two sides signed a memorandum of understanding (MoU) aimed at enhancing both countries' capacities and competitiveness through cooperation in technological innovation and industrial research and development.
This partnership is the first joint action aimed at enhancing the technological capabilities of companies, enterprises, and startups in the two countries.
The deal is expected to promote activities in both industrial sectors to intensify cooperation in science and technology, and to facilitate projects and opportunities for collaboration between entities from Israel and Brazil that could lead to innovative processes and products.
The authorities will allocate a total budget of 5 million U.S. dollars for a period of five years to support research and development projects in priority areas leading to solutions to relevant technological challenges for both countries.
The first call for proposals was issued on Nov. 28, 2018 for interested parties from both countries to apply for funding.
The program will support large-scale collaboration projects in the fields of internet of things, life sciences, energy, and agriculture for up to 24 months.