US-Israel Cybersecurity R&D Cooperation
This week a large majority of the US Congress voted in favor of two bills which will benefit US-Israel cybersecurity research and development. The bills were introduced by John Ratcliffe, from Texas, and Jim Langevin, from Rhode Island, following discussion which commenced in May regarding cybersecurity threats recorded in the US and Israel.
The United States-Israel Cybersecurity Cooperation Enhancement Act of 2016
This bill moves to increase detection and combat of cyber threats through a grant program supporting R&D projects for US-Israel joint ventures, non-profits, and academic or government entities in both countries. These grants will be provided to non-classified projects and the program is expected to run for seven years.
The United States-Israel Advanced Research Partnership Act
This act will expand an existing bi-national R&D program which is run by the US Department of Homeland Security and Israel’s Ministry of Public Security. Not only will the bill expand the program to include cybersecurity research, the bill aims to increase the success rate of products moving from the initial stages of development to successful commercialization.
As web security is the greatest security challenge of current generations, the US and Israel have recognized the importance of uniting as primary cybersecurity technology exporters to promote cooperation and unity against a dangerous front.
If you are performing research and development and would like to discuss the R&D Tax Incentive further, please do not hesitate to contact one of Swanson Reed’s offices today.