ECONOMY

Athens signs deal with Israeli fund for innovation

Development Minister Costis Hatzidakis signed on Wednesday a memorandum of cooperation with Yozma, Israel’s top investment fund and one of the biggest in the world in new technology enterprises.

The aim of the memorandum is the transfer of know-how in development and in the implementation of policies that will accelerate the emergence of new and innovative enterprises. It also foresees the creation of a joint task force to create an environment that encourages innovation, and the coordination of efforts to attract joint Greek and Israeli investment funds aiming at investing in Greek innovative enterprises.

Ever since its creation in 1993, Yozma (which is Hebrew for “initiative”) has administered over $220 million and has made direct investments to about 50 companies.

Hatzidakis and his deputy, Notis Mitarakis, visited Israel this week as part of a trip by the prime minister and had a series of meetings with Israeli government officials and businesspeople in search of cooperation and investments.