As part of an initiative to further develop business between France and the US, Francis Mer, France's minister of economy, finance and industry, toured the Photonics Center at Boston University and addressed its executives. Following the February tour, Donald Fraser, center director, announced that the center had signed a Memorandum of Understanding with Opticsvalley, a consortium of optics and photonics companies based in Palaiseau, France. Under the agreement, the organizations will collaborate to foster business and economic growth between the countries, particularly in the area of technology commercialization and company development. Opticsvalley will work with the French government and the center to help establish French start-up companies in the US. The organizations are compatible, especially in the areas of biophotonics and medical devices, according to Maurice Klein, CEO of Opticsvalley.