[Innovation Minister Paul Goldsmith – pictured above – confirmed that New Zealand officials are in talks with Israel about the agreement.]

The New Zealand and Israeli governments may sign an innovation agreement that would see technology firms from both countries fast-tracked to receive funding from their respective government grants agencies.

Ministry of Business, Innovation and Employment (MBIE) international relationships manager Simon Rae confirmed a deal was moving closer.

He said the agreement would encourage companies and universities from both countries to share research, information and possibly join ventures that both governments would help pay for.

“The agreement would support cooperation on innovation and research and development between firms in New Zealand and Israel,” Rae said.

“This could mean funding through existing New Zealand government grant mechanisms.”

He said the terms of the agreement were still being discussed but no extra taxpayer money would be set aside for the deal.

To read the full story on STUFF go to https://www.stuff.co.nz/business/innovation/97580312/nz-israeli-officials-negotiate-innovation-funding-agreement.