India-Israel Industrial R&D & Technological Innovation Fund (I4F)

India-Israel Industrial R&D & Technological Innovation Fund (I4F)

Part of: Prelims and GS-II International Relations

Context: Experts from India and Israel deliberated on widening the scope of India-Israel Industrial R&D and Technological Innovation Fund (I4F) at its 8th Governing Body meeting.

Key takeaways 

• They approved 3 joint R&D projects worth 5.5 million $ and suggested measures to create a broader India-Israel collaborative ecosystem.
• India-Israel Industrial R&D and Technological Innovation Fund (I4F) fund is a cooperation between the Department of Science and Technology (DST), Government of India, and the Israel Innovation Authority, Government of Israel.
• Objective: To promote, facilitate and support joint industrial R&D projects between companies from India and Israel to address the challenges in the agreed ‘Focus Sectors’.
• Aim: To promote, facilitate and support joint industrial R&D between India & Israel, which would lead to the co-development and commercialization of innovative technologies benefiting both countries.
• Global Innovation & Technology Alliance (GITA) is appointed to implement the I4F program in India, while Israel Innovation Authority is the implementing agency in Israel.

News Source: PIB