Israeli-Hungarian Industrial R&D Agreement On behalf of the Hungarian Government, Mr. Karoly Molnar, Minister without portfolio for research development, and on behalf of the Israeli government Mr. Eli Yishai, Deputy Prime Minister of Israel and Minister of Industry, Trade and Labor, have signed the R&D agreement on 19th January, 2009 in Jerusalem, in order to strengthen the cooperation between the two countries in the field of industrial research and development.
The purpose of the agreement is to support joint R&D projects in order to strengthen the Hungarian-Israeli trade relations. These projects will be supported by the two governments through calls for proposal according to the regulations of both sides. Only those projects will be supported that have the potential to sell the results jointly on the global market.
According to the agreement, both countries will allocate 1-1 million Euros for funding the approved projects with a total value of 4 million Euro. On the Hungarian side this amount will be allocated from the Research and Technology Innovation Fund. The drafting of calls for proposals and the joint decisions about the Hungarian-Israeli applications will be carried out by a Hungarian-Israeli Joint Committee. Successful projects will open further capital investment channels on the risk capital market, which is an important factor during the current financial crisis.
The agreement will take effect only after the ratification processes will be concluded in both countries, which expected in May-June 2009. You can download the text of the agreement here: