Singapore’s ST Engineering Partners With Israel Innovation Authority To Scout Israeli Tech
The Israel Innovation Authority (IIA), the Israeli government’s funding arm for R&D and innovation, announced a partnership with Singapore Technologies Engineering (ST Engineering), a global tech and engineering group, to scout for Israeli tech. The partnership will launch the Innovation Authority’s Research and Development (R&D) Collaboration with Multinational Corporations (MNC) program.
This program “offers a unique framework for technological cooperation between MNCs and innovative Israeli companies,” the IIA said.
As part of the deal, the IIA will support ST Engineering by helping to identify tech developments and scout Israeli companies that fall within its sphere. Funding will be provided for these Israeli startups by the IIA and ST Engineering will support their testing, marketing, and other global endeavors.
“The Innovation Authority is pleased to announce the first MNC Collaboration agreement with a Singapore-based engineering and technology group, ST Engineering,” said Aharon Aharon, CEO of the Israel Innovation Authority, “It will serve to strengthen R&D and commercialization relationships between the two countries,” he explained, noting the agreement is in addition to the SIIRD Foundation (Singapore Israel Industrial Research and Development) agreement between the Israel Innovation Authority and Enterprise Singapore.
“R&D collaboration with the government of Israel marks an important milestone for ST Engineering as it facilitates our work with the Israel Innovation Authority and leading Israeli companies who can become technology partners for our mobility solutions,” said Dr. Lee Shiang Long, president of ST Engineering’s Land Systems sector. “ST Engineering is an established player in the autonomous bus segment. It is currently conducting intermediate stages of the trials for autonomous shuttle and bus services in different parts of Singapore, chiefly in Sentosa and Jurong Island.”
ST Engineering, founded in 1967 and headquartered in Singapore, specializes in the aerospace, electronics, land systems, and marine sectors. The company works to combine innovation and technology to create multi-disciplinary solutions in defense and government in more than 100 countries. It is ranked among the largest companies in the Singapore Exchange.
The partnership announcement and program launch took place at the Israel Innovation Authority offices in Jerusalem. Aharon, Dr. Shiang, and Sagi Karni, designated ambassador of Israel to Singapore, were in attendance.