The Investment and Development Agency of Latvia and Innovation Authority of Israel signed a cooperation agreement to foster bilateral projects in innovation and technology development Wednesday.
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The agreement will allow entrepreneurs, researchers and organizations from both countries to connect and work together on the same challenges, would it be climate, green energy, health or biotechnology. Latvia and Israel will also announce joint calls for project proposals on all verticals and will co-finance the successful initiatives evenly.
The agreement will also open the new opportunities both for Latvian and Israeli ecosystem players to build consortiums and participate in the special programs funded by European Union, like Eureka or Horizon where matching partnerships are prerequisite for successful application submission and access to significant budgets.
Chairman of the Israel Innovation Authority Ami Applebaum said, "Today marks a significant milestone as we celebrate the signing of the collaboration agreement between Israel and Latvia. By joining forces, Israel and Latvia can tap into their respective strengths and create a strong alliance that blends innovation with traditional industry prowess. This collaboration opens up exciting opportunities for knowledge exchange, technology transfer, and the fusion of cutting-edge advancements with established industrial practices. Together, we will drive economic growth, create jobs, and propel our nations towards a better future."
