PTC Establishes R&D Center at Israel's Technion – Institute of Technology
PR89222
BOSTON, April 29, 2021 /PRNewswire=KYODO JBN/ --
-- Long-term Strategic Collaboration Includes 15 Million New Israeli Shekel ($5
Million USD) Investment
PTC(
) (NASDAQ: PTC) has entered into a long-term strategic collaboration agreement
with Israel's Technion – Institute of Technology(
) under which PTC will establish a Research & Development center and invest 15
million New Israeli Shekels ($5 million USD) into PTC's Haifa campus. Under the
terms of the agreement, PTC and Technion will jointly research and upgrade
learning processes relating to advanced manufacturing technology. PTC's Haifa
development center will relocate to Technion under the leadership of Dr.
Michael Reitman.
Photo - https://mma.prnewswire.com/media/1496019/PTC_Technion.jpg
Logo - https://mma.prnewswire.com/media/1313772/ptc_Logo.jpg
PTC has also allocated an annual budget for joint research in industrial IoT(
), augmented reality(
), simulation, and generative design(
). The allocation supports Technion faculty by providing software products;
awarding scholarships and incentives to students and researchers; initiating
hackathons and contests; and sponsoring educational programs.
"Today, scientific and technological breakthroughs need both multidisciplinary
research and close collaboration between academia and industry. Industry is at
the forefront of active implementation and is well-acquainted with market
needs, whereas academia brings basic scientific knowledge and research depth,"
said Professor Uri Sivan, President, Technion – Institute of Technology. "This
is why, in the past few years, Technion has placed greater emphasis on working
to tighten its connections with industry, and the present agreement is the
culmination of a long-standing relationship between Technion and PTC. We
believe the agreement enables both parties to gain ground, grow, and reap the
benefits of each other's strengths."
Announced in 2014, the initial agreement between PTC and Technion jumpstarted a
robotics and digital content program for the Science and Technology department,
including a teaching laboratory for industrial IoT, computer-aided design(
), manufacturing, and augmented reality, among other STEM topics. As a result
of the long-standing collaboration, Technion alumni have joined PTC to lead the
Company's Haifa development center, PTC's second largest center outside the U.S.
"The importance of collaboration between academia and industry is recognized
worldwide," said Ziv Belfer, Divisional Vice President and General Manager,
Research and Development, PTC. "PTC has enjoyed fifteen years of successful
collaboration with Aachen University in Germany, including the construction of
a separate campus that also houses R&D laboratories for companies that
collaborate with academic staff. Several projects subsequently became success
markers for commercial companies, and we look forward to replicating these
efforts with Technion in Israel."
About PTC (NASDAQ: PTC)
PTC enables global manufacturers to realize double-digit impact with software
solutions that enable them to accelerate product and service innovation,
improve operational efficiency, and increase workforce productivity. In
combination with an extensive partner network, PTC provides customers
flexibility in how its technology can be deployed to drive digital
transformation – on premises, in the cloud, or via its pure SaaS platform. At
PTC, we don't just imagine a better world, we enable it.
www.PTC.com
@PTC(
https://c212.net/c/link/?t=0&l=en&o=3140903-1&h=3254405407&u=http%3A%2F%2Ftwitter.com%2FPTC&a=%40PTC
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Media Contacts
PTC
Corporate Communications
Greg Payne
gpayne@ptc.com
Technion – Institute of Technology
Communications & External Relations
Doron Shaham
sdoron@technion.ac.il
PTC and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or
its subsidiaries in the United States and other countries.
SOURCE: PTC Inc.
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