PTC, a provider of digital solutions for a variety of industrial sectors, has entered into a long-term strategic collaboration agreement with the Technion- Israel Institute of Technology, under which PTC will establish a Research & Development center and invest 15 million shekels ($5 million) into PTC's Haifa campus.
Follow Israel Hayom on Facebook and Twitter
Under the terms of the agreement, PTC and the Technion will jointly research and upgrade learning processes relating to advanced manufacturing technology. PTC's Haifa development center will relocate to the Technion under the leadership of Dr. Michael Reitman.
PTC has also allocated an annual budget for joint research in industrial IoT, augmented reality, simulation, and generative design. The allocation supports Technion faculty by providing software products; awarding scholarships and incentives to students and researchers; initiating hackathons and contests; and sponsoring educational programs.
"Today, scientific and technological breakthroughs need both multidisciplinary research and close collaboration between academia and industry. Industry is at the forefront of active implementation and is well-acquainted with market needs, whereas academia brings basic scientific knowledge and research depth," said Technion President Professor Uri Sivan.
"This is why, in the past few years, Technion has placed greater emphasis on working to tighten its connections with industry, and the present agreement is the culmination of a long-standing relationship between Technion and PTC. We believe the agreement enables both parties to gain ground, grow, and reap the benefits of each other's strengths," Sivan added.
