Israel and Singapore have been successfully cooperating for nineteen years through SIIRD, the Singapore Israel Industrial Research and Development Fund, funded and run by the Israel Innovation Authority at the Israeli Ministry of Economy and Industry. The fund connects companies from both countries and research institutes from Singapore working on developing products in a range of industries and disciplines, including software, FinTech, MedTech, Biotech, AgriTech and more. Over the years, the fund approved more than 150 joint projects at a total cost of circa $170 million.
Today, senior officials from Singapore arrived in Israel to take part in a board meeting with top representatives from Israel. The participants include the Chairman of the Singaporean EDB, in charge of the economic development of Singapore and of drawing foreign investors to the country, the Chairman of the DSTA, the Chairman of Spring Singapore, the agency in charge of SME's, as well as other senior officials. Israel will be represented by Director General of the Ministry of Economy and Industry. Mr. Amit Lang, Deputy Director of the National Budget Department at the Israeli Ministry of Finance, Ms. Shira Greenberg, and Chairman of the SIIRD and of the Israel Innovation Authority, Mr. Avi Hasson. They will discuss joint projects between Israeli companies and Singaporean companies and research institutes. These projects are expected to cost some $8.2 million.
According to Chairman of the Israel Innovation Authority, Mr. Avi Hasson, "Technological cooperation between Israel and other countries on research and development, especially with technologically advanced countries like Singapore, highlights Israel's prominent position as a technological leader and the influence of Israeli technology on the entire world. The cooperation between Israel and Singapore has borne technological rewards that benefit not just the two countries, but the entire world."