Established in 1997, the Singapore-Israel Industrial R&D Foundation (SIIRD) is a co-operation between Enterprise Singapore and the Israel Innovation Authority to promote, facilitate and support joint industrial R&D projects, between companies from Israel and Singapore, which would lead to successful commercialization.Through SIIRDs funding, companies who conducted joint research projects have created new or enhanced products and technology, expanded their product portfolios for customers, created new markets, as well as shortened the time taken to bring new or enhanced products and technology into the market.