The Industry, Trade and Labor Ministry said Wednesday 119 Israeli companies have been awarded a combined â‚¬1 billion funding through ISERD-the Israeli Directorate for the EU's R&D Framework Program.
ISERD is an inter-ministerial directorate, established by the Industry, Trade and Labor, Finance, Foreign Affairs and Science and Technology Ministries and the Planning and Budgeting Committee of the Council for Higher Education. It aims to promote joint Israeli-EU R&D ventures. The Framework Program is the main instrument for research funding in Europe, bringing together industries and academic research.
Included among the companies that have been granted R&D funding from ISERD are Bigband Networks Ltd., Cell Cure Neurosciences Ltd., IBM Israel Ltd, Elbit Systems Ltd. and Orbotech Ltd.