​Established in 1997, the Singapore-Israel Industrial R&D Foundation (SIIRD) is a co-operation between the Singapore Economic Development Board (EDB) and the Office of the Chief Scientist (OCS) in Israel to promote, facilitate and support joint industrial R&D projects, between companies from Israel and Singapore, which would lead to successful commercialization.

Strategically located at the crossroads of Asia, Singapore aims to serve as a compelling business hub for interested investors from all over the world. Singapore is a good launch pad for Israel companies seeking to globalise their businesses. Singapore is host to nearly 6000 MNCs from all over the world, among which 3000 use Singapore as their regional headquarters. Israeli companies can collaborate with this large pool of MNCs to expand their businesses globally.

The World Economic Forum (WEF) has classified Israel as one of the leading countries in the world in technological innovation. In the 2008-2009 WEF Global Competitive Index Report, Israel received an overall rank of the 23th most competitive country. The 2008 IMD World Competitiveness Yearbook ranked Israel as the 20th most competitive country in the world.

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