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Ontario Premier Signs 18 Deals with Israel Worth $87 Million

Ontario Premier Kathleen Wynne kicked off her week-long trade mission to Israel by signing 18 agreements and partnerships valued at $87 million. Wynne’s delegation includes government officials as well as around 130 business, academic, and research representatives.

“I am pleased that so many Israeli and Ontario companies have created partnerships to develop innovative solutions to real-world scientific and technological challenges,” Wynne said. “Ontario is the ideal location to take innovative ideas from concept to marketplace—we have a competitive corporate tax rate, a strong financial sector and a talented workforce.”

Two-way trade between Ontario and Israel last year was valued at more than $900 million, according to the CBC. Ontario already has a memorandum of understanding on research with Israel, which has helped pull in more than $16 million in outside funding.

The 18 deals focused on science and technology, included one between Ben-Gurion University and Ontario’s Zenyatta Ventures to develop an enhanced form of concrete that will last longer and better withstand earthquakes. A group of Israeli universities and hospitals signed a $50 million, five-year agreement with the Ontario-based Center for Commercialization of Regenerative Medicine to create a branch in Israel. Israel’s Office of the Chief Scientist and the Canadian Center for Aging and Brain Health Innovation will collaborate on new brain health initiatives for seniors. And the Davidson Institute of Science Education signed an agreement with the Ontario Science Center to enhance the development of new exhibits, specifically focusing on women in science and engineering.

Wynne also met with former President Shimon Peres to strengthen ties between Israel and Ontario and find ways to advance common priorities. She will also speak at a business-to-business session for Ontario delegates and their Israeli counterparts to encourage new partnerships and investments.

(via Israel21c)

[Photo: Courtesy ]