Innovation grants of up to $250k available to NSW tech businesses under Israel partnership
Wed 27 September 2017 - 10:05 amFunding | Investment | News | Startup
NSW businesses can apply for matched grants of up to $250,000 to support joint R&D projects between NSW and Israel, under an innovation program announced by Minister for Innovation Matt Kean.
The Minister said the ‘NSW-Israel R&D Tech Innovation Program’ would open global opportunities to develop, commercialise and sell new products and services while building innovation links between the two centres.
“Israel is one of the world’s leading innovation powerhouses, and this new program will allow NSW and Israel to help businesses build global commercial capabilities,” he said.
“Applications will remain open until 18 December for NSW companies wanting to partner with those in Israel to apply for NSW Government grants of up to $250,000.
“The state government will contribute up to 50 per cent of a participating NSW company’s project costs, with applicants then required to match that contribution.
“The Israel Innovation Authority will also provide matching grants to Israel companies that take part in the program.”
Kean said the government would work closely with the Israel Innovation Authority to pair companies with similar aims that are interested in the program but lack a project partner.
“While applications are invited from all sectors, this program will focus on projects in cyber security, water management and agri-technology, which we are keen to develop,” he said.
“Startup companies, fast growing SMEs, and entities based in regional or rural NSW are encouraged to apply and will be eligible for an extra 10 per cent of funding up to $250,000.”
Kean said the program follows a Memorandum of Understanding (MoU) signed between the NSW Government and the State of Israel for Bilateral Cooperation in R&D and Technology Innovation.
“NSW and Israel will be a formidable technology partnership that will develop new innovative products, processes and services for global markets that can support economic growth, skills development and job creation across both countries,” he said.
For further information on the program, and to learn how to apply, visit http://www.industry.nsw.gov.au/israelresearchprogram.