(Communicated by the Ministry of Economy and Industry Spokesperson)

The Office of the Chief Scientist at the Israeli Ministry of Economy and Industry and the Innovation & Technology Commission in Hong Kong (ITC) have announced the launch of an R&D Cooperation Program to fund joint projects.
 
As part of the program, support for finding potential partners and funding will be provided to Israeli companies and Hong Kong-based companies for the purpose of advancing industrial R&D cooperation involving both countries. Israeli technology companies cooperating with companies from Hong Kong are invited to submit requests to receive funding for industrial R&D projects as part of the Hong Kong-Israel Research and Development (R&D) Cooperation Program.
 
Secretary for Innovation and Technology representing the Government of the Hong Kong Special Administrative Region (SAR), Nicholas Yang, and the Consul General of the State of Israel in Hong Kong, Sagi Karni, participated in a press conference held in Hong Kong announcing the new program.
 
Mr. Yang noted that Israel is at the forefront of technological and scientific development and is one of the few places in the world where everyone looks to find the latest and newest ideas.
 
"When the business and technology communities of both Hong Kong and Israel join forces, they would no doubt generate sparkles that would shine in the global technological landscape. The Hong Kong-Israel R&D Cooperation Program marks a new milestone in our endeavor to forge closer ties in the private sector, creating new opportunities," said Mr. Yang.
 
Chief Scientist at the Israeli Ministry of Economy and Industry, Avi Hasson, remarked that the program has great business potential and can be fertile ground for strengthening trade relations between the two countries. "With the new program, it will be possible to realize the unique technological ideas brought forward by various companies from Hong Kong and Israel," said Hasson. "I certainly believe this program will further advance technological ties between the two countries to even higher levels."
 
Avi Luvton, Executive Director, Asia Pacific, at MATIMOP, remarked that Hong Kong holds a special status as a world class financial, trading and business center.  He added that its important location in the rapidly-developing heart of East Asia gives Hong Kong economic and strategic significance for Israeli companies, and that there is no doubt that the new program will make a significant contribution towards realizing the potential for cooperation between the two governments.
 
The new program is open for applications year round and is suited to projects focusing on research and development from all industrial sectors. As part of the program, each company taking part will be funded by the relevant government: in Hong Kong entrepreneurs will receive funding through the ESS (Enterprise Support Scheme) program, managed by the Innovation and Technology Fund (ITF); in Israel, funding will be given by the Office of the Chief Scientist at the Israeli Ministry of Economy and Industry and the program will be managed by the executive branch of the Office of the Chief Scientist, the Israeli Industry Center for Research and Development (MATIMOP).