JERUSALEM, June 13 (Xinhua) -- Israel and Argentina launched a technology cooperation program of companies from both countries, the Israel Innovation Authority (IAA) announced on Thursday.
As part of the program initiated by the IAA and Argentina's Rosario Stock Exchange, fundings will be allocated to Israeli companies which will cooperate with Argentinian companies to develop significant technologies, products, services and appliances.
As part of the collaboration, the participating companies will be able to examine the process validating of the technology, conduct clinical trials, adapt the technology to market needs, and acquire experience in regulation and commercialization channels.
According to the plan, the IAA will assist suitable Israeli companies in locating an Argentine partnership for the project and will fund up to 50 percent of the costs of pilot testing and validation.
Once the project is approved by both parties, companies will be eligible for financial support for a year and will be able to receive financing for an additional year after evaluating the project results and meeting the milestones from the first year.
The IAA will also fund an additional 10 percent for companies located far from central Israel.
