CIIRDF helps Israel and Nova Scotia forge collaboration to grow promising tech firms

Entrepreneurs and companies in Nova Scotia and Israel will be pursuing collaborative R&D partnerships via a new program struck between the two jurisdictions. The Nova Scotia-Israel Innovation Program (NSIIP) is intended to facilitate the creation and commercialization of technologies by start-ups with the aim of developing full scale operations with global market reach.

NSIIP brings together various organizations including Israel's Office of the Chief Scientist (OSC), Ministry of Economy in Israel, and the Province of Nova Scotia through Innovacorp, the province's early stage venture capital organization.

The deal, brokered by the Canada-Israel Industrial Research Development Foundation (CIIRDF) and the Israeli Industry Center for R&D (MATIMOP), follows a similar agreement between Israel and the Province of Ontario and negotiations are ongoing to establish an Israel-Saskatchewan R&D agreement.

"I looked at Innovacorp and there's a great opportunity for technology or company bundling. Innovacorp is a very impressive organization that has three or four dozen fledgling companies and a dozen good opportunities," says CIIRDF president Dr Henri Rothschild. "It's a variation of an old model with powerful new features to help make the Innovacorp companies more robust... I propose to establish a dedicated fund like we have in Ontario."

The fund is open to eligible firms from across the province.

Israeli companies will be able to access funding through the OCS while Canadian firms can look to Innovacorp and other organizations such as the Atlantic Canada Opportunities Agency (ACOA).

Funding will initially be used to launch feasibility projects, followed by bilateral calls for proposals. Israel has a vibrant VC industry which could be tapped for future funding as collaborations and start-ups mature.

Discussions for NSIIP were launched last November following a Halifax meeting between Israel's ambassador to Canada, Rafael Barak and Nova Scotia premier Stephen McNeil.

"I'd like to have an agreement like this for every province in Canada but we're a small organization and it's a lot of work so it will take time," says Rothschild."

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