WALTHAM, Mass. – The Massachusetts Life Sciences Center (MLSC) and MATIMOP, the Israeli Industry Center for R&D (on behalf of Israel’s Office of the Chief Scientist) announced today the launch of a second round of a bilateral R&D financing program under the Massachusetts-Israel Innovation Partnership (MIIP).
Launched in June 2011, MIIP was designed to help Massachusetts and Israeli companies accelerate development cycles, and to promote mutually beneficial business-to-business cooperation to enhance opportunities for marketplace success and expand their global reach. The Partnership was established as a direct result of Governor Patrick’s Massachusetts Innovation Economy Partnership Mission, a trade mission in March 2011 that included travel to Israel, where a coalition of the state’s leading business executives and senior government officials explored growth opportunities of common interest for Massachusetts’ and Israel’s innovation industries.
The first round of MIIP was announced in September 2011. The program provides a framework of parallel funding for each participating company, having its R&D expenses supported by its own state according to its respective laws, regulations, rules and procedures.
The first round of MIIP’s financing program resulted in four approved collaborations announced at the BIO International Convention in June 2012, including three that are related to the life sciences.
Due to the successful partnership, Massachusetts Gov. Deval Patrick and Israeli Chief Scientist Avi Hasson agreed to offer a second round of the R&D financing program. The MLSC has committed $500,000 to the program’s second round, and the Office of the Chief Scientist will also provide funding for the corresponding Israeli life sciences partner companies.
“Massachusetts is a global leader in the life sciences industry because of our strong investment in our innovation sectors,” said Governor Patrick. “By continuing our commitment to exploring growth opportunities and common interests with Israel’s innovation-based sectors, we are setting Massachusetts up for success in the 21st century global economy.”
“MLSC and MATIMOP’s commitment to MIIP is well reflected in the second round of the program,” said Israel Shamay, MATIMOP’s Executive Director and Head of the Americas Operations. “We have improved the program’s procedures in order to better adjust MIIP to the industry’s needs and help our companies create mutually beneficial partnerships.”
“This joint investment program between Massachusetts and Israel is building an even stronger collaboration between two of the world’s leading centers for life sciences innovation, providing economic benefits to both states,” said Susan Windham-Bannister, Ph.D., President & CEO of the Massachusetts Life Sciences Center. “The program is also serving as a model as we explore similar collaborations in other parts of the world”.
This new round of MIIP will have a two-phased application process. Phase I applications are due by December 7, 2012. Companies advancing to Phase II will be notified in January 2013 and winning joint projects will be announced by mid-June 2013. For more information or to apply, interested companies should visit the MLSC’s website.