Share this article Share this article BOSTON, April 29, 2021 /PRNewswire/ -- PTC (NASDAQ: PTC) has entered into a long-term strategic collaboration agreement with the Technion – Israel 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. Long-term Strategic Collaboration Includes ₪15 Million New Israeli Shekel ($5 Million USD) Investment 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.