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MINNESOTA TRADE OFFICE HELPS MINNESOTA COMPANIES HOOK UP WITH INTERNATIONAL PARTNERS ON JOINT RESEARCH AND DEVELOPMENT

 MINNESOTA TRADE OFFICE HELPS MINNESOTA COMPANIES HOOK UP WITH
 INTERNATIONAL PARTNERS ON JOINT RESEARCH AND DEVELOPMENT
 ST. PAUL, Minn., June 1 /PRNewswire/ -- Financial and technical assistance is now available for small- and medium-sized Minnesota companies that want to link up with foreign-based companies on product development work.
 The Minnesota Trade Office (MTO), in cooperation with Minnesota Technology Inc., is launching the International Partnership Program for Minnesota companies initiating or continuing research and development (R&D) work in conjunction with a foreign partner. Up to $100,000 may be awarded to Minnesota companies that are engaged in product development work with foreign companies. Funds are made available by the state of Minnesota and must be matched by foreign governments. The International Partnership Program was created by the 1991 Legislature to stimulate R&D alliances between Minnesota and foreign-based companies.
 "This program is another way of establishing new partnerships between Minnesota and foreign-based firms," according to George Crolick, executive directors of the MTO. "The introduction of new advanced technologies into the state will help Minnesota's technology-intensive companies remain competitive in the international marketplace."
 By joining forces with a foreign company to develop new products, Crolick said, companies can expand their competitiveness, gain access to state-of-the-art technologies, expand their product distribution channels and add to existing resources and skills.
 Minnesota companies that are currently engaged in product development work with a foreign partner are encouraged to apply for financial assistance through the program. Technical assistance is also available to Minnesota companies that would like to develop a joint R&D project but need to locate a suitable foreign-based partner. For more information on the partnership project, contact Dan Shendar, International Partnership Program coordinator at 612-297-4283.
 -0- 6/1/92
 /CONTACT: Dan Shendar of International Partnership Program, 612-297-4283 or 612-860-1425; or Kathy Stone of the Minnesota Department of Trade and Economic Development, 612-297-1491 or 800-657-3858/ CO: Minnesota Department of Trade and Economic Development; Minnesota
 Trade Office; International Partnership Program; Minnesota
 Technology Inc. ST: Minnesota IN: SU:


KH -- MN003 -- 5648 06/01/92 11:33 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
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