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The Cuomo Administration and several major New York health care institutions signed a series of agreements with Israeli entities in the unmanned aerial vehicles (UAV)/drones, transportation, energy, cybersecurity, financial technology and health care industries.
"Our economy is stronger than it's ever been and our message during this trip was simple: New York is open for business," Cuomo said in a press statement. "On our solidarity trip, we focused on key areas that present real opportunities for collaboration with Israeli companies because when Israeli startups choose New York, there is tremendous potential for growth for both economies."
Cuomo's announcement builds on an agreement signed last week between Empire State Development and the Israel Innovation Authority for a $2 million partnership to strengthen economic development ties between New York and Israel.
The agreement includes cooperation on the co-development and commercialization of innovative solutions in the fields of cybersecurity, supply chain, smart cities, energy, unmanned aerial vehicles, life sciences and other areas. As part of the agreement, New York and Israel will establish a Smart Cities Innovation Partnership, a new initiative that will share innovative technologies, research, talent and business resources between cities in New York and Israel.
Among the agreements made during Cuomo's trip are these collaborations for economic development:
- Cornell Tech, which has a campus on Roosevelt Island, will lead an effort to modernize Metropolitan Transportation Authority (MTA) technology. In a joint academic venture between Cornell University and the Technion-Israel Institute of Technology, Cornell Tech will bring national and international thought leaders from academia, business, government and technology to explore solutions to the most vexing challenges facing transportation in New York City.
- Five Israeli energy companies will be entering the New York state market. The new relationships support the state's Climate Leadership and Community Protection Act, the most aggressive climate program in the nation, which is driving the state to a carbon-neutral economy by 2050.
Empire State Development President, CEO and Commissioner Howard Zemsky said, "New York's robust economic development partnerships with Israel will be further strengthened today through initiatives as diverse as drone technology and cancer treatment, and build on our mutual strengths to advance the state's innovation economy."
This report released by the New York-Israel Business Alliance notes that Israeli-founded businesses generated $18.6 billion in New York state last year. The report cites these companies: Compass, Lemonade, WeWork, Taboola and Payoneer. The companies, while headquartered in New York, have Israeli-born or -raised founders.
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