The agreement is aimed to increase support for start-ups and software solutions producers through cooperation between the state and Oracle (Nasdaq:ORCL). The new technological excellence center will make available assistance in technology and provide access to scientific and research infrastructure.
Joint projects by Israeli companies and Oracle in this framework that meet criteria set by the Chief Scientist will be eligible for partial financing of R&D costs.
Oracle President Safra Catz and Israeli Chief Scientist Dr. Eli Opper recently signed a cooperation agreement to establish a center for technological excellence for Israeli start-ups. The agreement is part of a plan by the Office of the Chief Scientist in the Ministry of Industry, Trade, and Labor for industrial R&D cooperation with multinational companies.