Innovation Authority collaborates with NY Creates on semiconductor research

On Tuesday, the Israel Innovation Authority signed a declaration with NY Creates, a nonprofit organization based in Albany, New York, that carries out technological research and specializes in advanced semiconductor R&D, as well as accelerating the transfer of innovation to the business sector. The agreement is expected to lead to the integration of relevant Israeli innovations and research entities in the US organization’s activities in the field of semiconductors.

NY Creates will be supported by the Israel Innovation Authority in identifying technological developments and scouting Israeli companies whose spheres of activity are within its reach. As part of the collaboration, the Israeli companies will receive funding from the authority, while NY Creates will support the US component.

What the partnership could mean to Israel's technology industry

“On the backdrop of a global semiconductors’ supply chain crisis, and the US government backwind for investments within this specific sector, the Israel Innovation Authority identified this specific opportunity to collaborate with a leading semiconductors R&D entity,” said IIA CEO Dror Bin.

In light of the unique opportunity it provides Israeli research and development companies in the semiconductor field, the collaboration will further the authority’s global activities by opening new markets for Israeli companies and academia, ensuring Israel’s continued technological success despite global semiconductor challenges.

“This agreement will enable Israeli semiconductor companies to operate in some of the most advanced facilities worldwide, and gain better exposure to the US market and other relevant global entities,” Bin said.

The declaration was signed as part of the IIA’s R&D Collaboration and Pilots program, which has seen the Authority partner with several global research institutes. It was facilitated by the Global NY Office in Israel and was signed during the joint Global NY/NY Creates trade mission to the country.

David Anderson, president of NY Creates, highlighted the importance of collaboration when fostering innovation, noting that ”Israel has many promising early-stage companies with inventive new ideas, and NY Creates has the world-class facilities and expertise to help transform those ideas into new technologies with real-world applications.

“We look forward to our partnership and working together to grow companies and new technologies, expand markets and strengthen the semiconductor industry in the US, Israel and globally,” he said.