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

Q.  MoU has been approved between India and a foreign nation for which fund on 30th Aug, 2017?
- Published on 31 Aug 17

a. India-Israel Industrial R&D and Technological Innovation Fund (I4F)
b. India-Jordan Industrial R&D and Technological Innovation Fund (I4F)
c. India-Egypt Industrial R&D and Technological Innovation Fund (I4F)
d. India-Ethiopia Industrial R&D and Technological Innovation Fund (I4F)

ANSWER: India-Israel Industrial R&D and Technological Innovation Fund (I4F)
 
India-Israel Industrial R&D and Technological Innovation Fund (I4F) approvedThe Union Cabinet chaired by Prime Minister Shri Narendra Modi approved a Memorandum of Understanding (MoU) between India and Israel.

This is on “India-Israel Industrial R&D and Technological Innovation Fund (I4F)”.

The MoU was concluded in July, 2017

India and Israel will make a contribution of four million US Dollars each for the Fund, both equivalent amount, annually for five years.

The Innovation Fund will be governed by a joint Board which will consist of four members from each country.

The MoU envisages promotion of bilateral Industrial R&D and Innovation cooperation in the fields of science and technology by extending support to joint projects for innovative or technology-driven new or improved products, services or processes.

Such projects will lead to affordable technological innovations in focus areas of mutual interest such as water, agriculture, energy and digital technologies.

Institutional support in building up consortia including private industry, enterprises and R&D institutions from India and Israel will be enabled through these collaborative projects.

The activities supported by the Joint Fund would increase the techno-economic collaboration between the two countries by investing in jointly developed technology projects and collaborations based on technological innovation.

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