Gov. Cuomo Signs Groundbreaking Nanotechnology Deal between New York and Israel

New York Governor Andrew Cuomo announced this week the official formation of an international partnership between the state of New York and the State of Israel, in order to collaborate on the research and development of nanotechnology.

The College of Nanoscale Science and Engineering (CNSE) and the Israeli Industry Center for Research & Development (MATIMOP) have teamed to expand business, economic relations and technological advancements in nanotechnology, a field that has grown significantly in recent years.

Governor Cuomo signed a Memorandum of Understanding (MOU) this week to lawfully establish the partnership, acting on behalf of the Office of the Chief Scientist (OCS) in the ministry of Industry Trade and Labor.

With monetary investments toward New York’s nanotechnology industry already totaling in the billions, the partnership will not only leverage the substantial information and innovations that have been made, but will work toward new innovations and several bilateral and multilateral nanotechnological ventures.

As part of the MOU, the Israeli government will allocate approximately $300 million a year to secure the country’s access to the CNSE’s infrastructure and all that it entails, thereby contributing vital funds to facilitate the various productions of the CNSE.

These projects will include not only research and development, but a multitude of commercialization efforts to create and promote the most current nanoscale technologies in corporations and academic institutions across both the U.S. and Israel. Publicity and marketing campaigns will also be a focus for both countries to boost interest in Israel, which has not seen the same level of enthusiasm as the New York institutions. 

The newly-established MOU involves the renowned Albany-based NanoCollege because it truly is the perfect center of operations for this collaboration, what with its innumerable high-tech investments and contributions from over 300 global corporate sponsors.

This partnership is the first of its kind, and will further the advancement of nanotechnology to benefit many fields including education and healthcare.