Germany to invest 500,000 euros in Israeli tech start-ups

The German flag. Credit: Wikimedia Commons.

( Germany will be investing 500,000 euros ($559,000 or 2.1 million shekels) in Israeli initiatives through a program launched by the German government on Israel-Germany Innovation Day in Tel Aviv on Monday, which was held as part of the ongoing commemoration of 50 years of bilateral ties between the countries.

In addition, a delegation of 100 German government and business officials arrived in Israel on Monday, headed by Karl-Ludwig Kley, chairman and CEO of the Merck pharmaceutical company, who met with Israeli Economy and Trade Minister Aryeh Deri. Kley informed Deri that his company will be purchasing the last stake in the Israeli nanotechnology company Qlight Nanotech, Israel Hayom reported.

The purchase of Qlight Nanotech will transform its operations into Merck’s official research and development center in Israel, and will also increase the company's output.

Posted on June 30, 2015 .