Sept 11, 2017 – Medical equipment company Medtronic will be the first company to establish development centers in Israel in cooperation with the Israel Innovation Authority. In return for hiring 100 employees in spheres beyond the company’s existing activity in Israel, the company will receive a $14 million grant from Israel’s Innovation Authority. Following approval of the grant in recent days, the new deal between the state and Medtronic is a handshake away.
It is believed that the grant will be spread over three years by paying 30% of the salary of those working in the development center. The new activity will be in two locations: Jerusalem and Yokneam, and will involve brain monitoring (Jerusalem) and big data for medicine (Yokneam).
For more information, see: Globes: http://www.globes.co.il/en/article-medtronic-to-set-up-israeli-rd-centers-1001204748