Virginia and Israel signed an agreement to strengthen cooperation on research and development.
Under the agreement, an approved joint research-and-development project will receive financial support from the governments of Virginia and Israel. The initiative will significantly reduce the costs that Virginian and Israeli companies normally would incur if they were to conduct the project independently, according to an Israeli Embassy statement.
Israel has similar agreements with other U.S. states.
Israel’s ambassador to the United States, Sallai Meridor, and Virginia Gov. Tim Kaine inked the agreement at the Israeli Embassy on Thursday afternoon.
“Both Gov. Kaine and I are eager to facilitate and identify specific private-sector, research-and-development projects, partnerships and collaborations between private entities in Virginia and in Israel,” Meridor said.
“Over the years, Virginia’s admiration for Israeli innovative technology has grown,” Kaine said. “This agreement is the first step to developing and deploying new technologies in the commonwealth and simulating economic development in both Virginia and Israel.”