The Israel Innovation Authority announced today their partnership with ST Engineering, a global technology and engineering group ranked among the largest companies on the Singapore Exchange, to connect ST Engineering with groundbreaking Israeli start-ups and innovations in the fields of Smart Mobility (Intelligent Transportation Systems and Autonomous Buses), Smart Security, and Smart Environment. The partnership is part of the Innovation Authority's Research and Development (R&D) Collaboration with Multinational Corporations (MNC) program.
The R&D Collaboration with MNCs program offers a unique framework for technological cooperation between MNCs and innovative Israeli companies. As part of the agreement, the Israel Innovation Authority will support ST Engineering in identifying technological developments and scouting Israeli companies that fall within its sphere of activity. To support further development of specific technologies, the Israel Innovation Authority will provide funding for the Israeli startups, while ST Engineering will support the startups’ R&D, testbed, marketing, and other global activities.
The partnership announcement and program launch took place at the Israel Innovation Authority offices in Jerusalem. Attendees included: Mr. Aharon Aharon, CEO of the Israel Innovation Authority; Dr. Lee Shiang Long, President of ST Engineering’s Land Systems sector; and Mr. Sagi Karni, the Designated Ambassador of Israel to Singapore. Attendees from the Israel Innovation Authority also included Mr. Avi Luvton, Senior Director of Asia Pacific Operations, International Collaborations Division, and Ms. Shirley Refuah, Adv., Senior Manager of the Singapore-Israel Industrial R&D Foundation.
“R&D collaboration with the government of Israel marks an important milestone for ST Engineering as it facilitates our work with the Israel Innovation Authority and leading Israeli companies who can become technology partners for our mobility solutions.” said Dr. Lee Shiang Long, President of ST Engineering’s Land Systems sector. “ST Engineering is an established player in the autonomous bus segment. It is currently conducting intermediate stages of the trials for autonomous shuttle and bus services in different parts of Singapore, chiefly in Sentosa and Jurong Island.”
“The Innovation Authority is pleased to announce the first MNC Collaboration agreement with a Singapore-based engineering and technology group, ST Engineering. This agreement is an addition to the well-known SIIRD Foundation (Singapore Israel Industrial Research and Development) between the Israel Innovation Authority and Enterprise Singapore, and will serve to strengthen R&D and commercialization relationships between the two countries,” said Mr. Aharon Aharon, CEO of the Israel Innovation Authority