Published May 9, 2013
South Carolina and Israel have formed a research and development partnership to increase collaboration between the state and nation.
Commerce Secretary Bobby Hitt and Israel’s Economic Minister to North America Nili Shalev announced the agreement during the U.S.-Israel Neurotechnology Business Exchange in Charleston this week.
“I highly expect that we will have a pipeline of talent, Israeli companies that will put their operations in South Carolina.”
— SCRA CEO Bill Mahoney
The agreement creates a funding mechanism for joint industrial R&D projects between Israeli and South Carolina companies and universities, said SCRA in a news release. SCRA and MATIMOP, the Israeli Industry Center for R&D, which is SCRA’s counterpart, will administer the agreement.
“Israel is a hub of innovation, and, as a state, invests the highest amount in research and development per capita,” Shalev said. “Israel is lacking in the ability to scale, and that is where this partnership is critical.”
Hitt said the agreement is one of the first of its kind in the Southeast.
“When we get enough smart people together, we can make the right things happen. Innovation and incubation are important to Commerce and South Carolina, so hopefully some important business relationships and outcomes will develop from this collaboration,” Hitt said.
SCRA CEO Bill Mahoney said the applied research and development corporation was glad to be facilitating the collaboration and expected there to be more positive economic development news to come from the partnership.
“I highly expect that we will have a pipeline of talent, Israeli companies that will put their operations in South Carolina,” Mahoney said.
The two-day U.S.-Israel Neurotechnology Business Exchange was organized by the South Carolina-Israel Collaboration of the American-Israel Chamber of Commerce, Israel Economic Mission N.Y. and the BIRD Foundation along with Israel Brain Technologies.