IBM to invest in Israeli cleantech start ups
11.04.2010, Globes: The program, in cooperation with the Ministry of Industry, Trade and Labor, is intended to reach dozens of companies.
Sources inform "Globes" that, this Tuesday, IBM Israel will announce a program for investing in cleantech (energy and water) in cooperation with the Ministry of Industry, Trade and Labor. The announcement is part of a general move in the past few years by the computing giant to get into cleantech, after indentifying it as a growth engine.
Collaboration between the Ministry of Industry, Trade and Labor and IBM is not something new. The ministry's Program for the Encouragement of Multi-National Companies` Project Center in Israel connects the multi-nationals with local technology companies, and gives financial support for adapting the local company's product to the multi-national's needs. For its part, the multi-national company supports the adaptation process, both financially and by marketing it overseas.