The UK and Israel, both highly developed economies, have strong bilateral trade and scientific relations. The two countries recently launched a $2.4 million fund for joint technology research projects. The aim of this initiative is to promote greater scientific cooperation and support the development of innovative technologies that will benefit both countries.

The UK-Israel Innovation Fund is the first bilateral fund funded by both the UK Department of Science, Innovation and Technology and the Israeli Ministry of Innovation, Science and Technology.

The fund is intended for research specifically focused on the use of artificial intelligence (AI) in drug discovery, quantum technologies, advanced food packaging and alternative proteins. Researchers in both countries will be offered up to £200,000 (about $255,000) over three years for bilateral research projects in these areas.

British Ambassador to Israel Simon Walters said the new fund would deepen the already considerable scientific collaboration between British and Israeli researchers.

“The UK and Israel have built a strong relationship in science and technology; the launch of the first bilateral UK-Israel research call is an important milestone and strengthens the already fruitful collaboration between our research communities,” said Walters. “It provides a unique opportunity for top scientists from both countries to conduct cutting-edge research in quantum technologies, food technology and artificial intelligence in drug discovery.”

The ambassador praised the close economic and scientific cooperation between Great Britain and Israel.

“Our two countries continue to work closely together, driving innovation and economic growth despite regional challenges,” Walters said. “The UK’s commitment to creating a supportive environment for Israeli companies to expand and succeed remains unwavering,” he said, adding: “The UK remains a solid, welcoming destination for Israeli companies looking to expand their global reach.”

Eshchar Ben-Shitrit, the founder of Israeli foodtech startup Redefine Meat – which produces 3D-printed plant-based meat products – is one of many Israeli companies with a presence in the UK market.

“Doing business in the UK as one of our first global markets was a strategic decision, leveraging the country’s supportive environment, its leadership in sustainability and innovation, and its well-developed retail sector,” said Ben-Shitrit.

Although the new British-Israeli fund is relatively modest, it represents a positive development against the backdrop of increasing British and international political criticism of Israeli military operations against Hamas in the Gaza Strip.

The UK and Israel have been working together in the field of technology and innovation for years.

The UK-Israel Technology Centre is a non-profit company operating out of the British Embassy in Israel since 2011. The ‘Hub’ was established by the British government to drive economic growth by helping British companies form partnerships with cutting-edge technology companies in Israel and has built an excellent reputation as the best ‘resident experts’ in Israel.

Trade between Britain and Israel is booming. In 2023 bilateral trade between Britain and Israel amounted to 6 billion pounds (about 7.8 billion dollars).