Tel Aviv University and China's Tsinghua University have signed a Memorandum of Understanding for strategic cooperation in innovative research and teaching. In the first phase, the two universities will invest hundreds of millions of dollars in setting up a research institute to focus on technology and life sciences. The center will be known as the XIN Center (new in Chinese).
The research center will initially focus on fields which enjoy accelerated development both in Israel and in China such as life sciences and nanotechnology, but in time it will expand to other fields of science. The Center will also strive to join forces with high-tech industry.
As part of the XIN project, an investment fund will be established to seed ventures initiated by XIN Fellows. The fund of 100 million yuan (about $16 million) will be set up by Infinity Group. Investors in the fund will include the Beijing government and alumni of Tsinghua University.
The XIN Center will aim to recruit the finest researchers and students in the two countries as well as from the rest of world. It will encourage innovation among students by giving them optimal conditions to create, develop and leverage their ideas in various areas of technology and science. The researchers will serve as instructors and mentors to the research students, and help them develop promising projects.
Tel Aviv University president Prof. Joseph Klafter noted that this is an exceptionally important agreement, opening new horizons for Israel and Israeli society. According to Prof. Klafter, the establishment of the XIN Center is evidence of the considerable esteem in which the Chinese hold Israeli innovation and the high academic standards of Tel Aviv University.
President Chen of Tsinghua University expressed the readiness of his institution to work with Tel Aviv University to push forward cross-disciplinary research and explore ways to answer global challenges. The president stressed the importance of cultivating innovative future scientists and leaders.
Published by Globes [online], Israel business news - www.globes-online.com - on September 12, 2013
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