Outgoing Chicago Mayor Rahm Emanuel and Chemi Peres, son of former Israeli President Shimon Peres, signed a memorandum of understanding on Monday to create a partnership between “technology and innovation ecosystems.”

Chemi Peres is chair the Peres Center for Peace and Innovation.

The two seek to further “innovation and entrepreneurship” in the Windy City and the Jewish state by uniting business, academic, civic and government leaders, lead by World Business Chicago.

“Shimon Peres believed in the transformative power of technology and innovation as a pathway to peace, and we are proud in Chicago to foster an environment that makes agreements like this possible,” said Emanuel. “Around the country and increasingly around the world, our city is known as an emerging technology and innovation hub with the workforce and education backbone that can support it.”

Emanuel, who is Chicago’s first Jewish mayor, did not seek re-election and will be replaced in May by Democrat Lori Lightfoot, who was elected earlier this month.