The Show Me State is working with the nation of Israel to create a co-investment agreement that aims to enhance their respective tech sectors.
Missouri and Israel recently signed an agreement that will foster a relationship between the Missouri Technology Corporation and Israel Innovation Authority. The deal aims to advance opportunities for new tech projects to create jobs and grow economies in Missouri and Israel.
“We look forward to collaborating with the Israel Innovation Authority and identifying ways to support co-investment opportunities that would be mutually beneficial,” MTC executive director Bill Anderson said. “At this time, we are celebrating this milestone for Missouri as it is the first time we’ve been involved in co-investment strategies with foreign partners. Thanks to Gov. Nixon’s commitment to building up innovation in the state, this agreement can open doors for Missouri firms to partner with Israeli firms as well as increase exposure for our burgeoning startup community. We will continue to work out the details with our new partners that will support the state’s overall mission to grow innovation and create next-generation jobs.”
Under the agreement, MTC and IIA will create a framework to focus on joint research projects in the areas of aerospace, cyber-security, biotech and ag tech for commercialization. The State of Missouri said that once implemented, the deal would pair Missouri and Israeli tech companies within the four industries. The MTC and IIA will also jointly fund the paired companies.
“Establishing the Israel-Missouri partnership is a significant step for building a platform for innovation advancement through R&D collaborations,” Avi Hasson, chief scientist of the Ministry of Economy and Industry, said in a release. “The strong ties will benefit the economies of both Israel and Missouri and will strengthen the innovation links between the two industries. I am certain that such partnership with Missouri will yield great success stories among Israeli and U.S. companies.”
For more information on the agreement, click here.