Deadline for Submission
Israel Innovation Authority
Korean Israel R&D Foundation (KORIL-RDF)
Korea Israel Industrial R&D Foundation (KORIL-RDF) is a bi-national foundation, created by the governments of the Republic of Korea and the State of Israel, whose mission is to promote & support technological collaboration in innovative R&D between commercial companies in both countries
KORIL seek to promote research and development in Korea and Israel by helping Korean-based and Israel-based companies with R&D Partner Search and providing up to US$1M in funding for joint R&D projects between them.
Through joint R&D collaboration and KORIL’s funding, companies have:
- Created new/enhanced products and technology
- Expanded product portfolio for customers
- Created new markets
- Shortened time to bring new/enhanced products and technology into the market
- The application must be jointly submitted by a Korean-registered company and an Israel-registered company.
- Either company must not have more than 20% shareholding in the partnering company.
The joint project must be undertaken in Korea and Israel.
- At least 30% of the actual R&D work must be done in Korea as well as in Israel.
- Technology and product developed must have potential for commercialization.
- Companies must have the ability to fund the supplementary portion of their project budget after a grant.
- Technical Capabilities
- Financial Capability
- Commercialization/Marketing Capability
- Synergy Between Companies
- Level of Innovation/Novelty
- Potential for Commercialization Success
The KORIL-RDF funding covers the R&D portion of the companies’ total development cost in the joint projects.
Full-scale project’s maximum period is 3 years. The maximum actual grant will vary to be commensurate with proposal
|Max. Grant (%)||50||45||40||35||30|
|Max. Grant (USD)||1,000,000||900,00||800,00||650,000||500,000|
KORIL offers 3 funding programs:
For project cost above US$400K with commercializable product or technology and project duration and not more than 3 years.
Fund up to US$1M or 30% to 50% of the total qualified project cost, whichever is lower.
Fund up to US$30K for commercialization activities.
For project cost below US$400K with commercializable product or technology and project duration not more than 1 year.
Fund up to US$200K or 50% of the total qualified project cost, whichever is lower.
For investigation project to determine the technical feasibility and market acceptability of a new product or process concept.
Fund up to $30K or 50% of the total qualified project cost, whichever is lower.
The project duration is up to 3 months.
* This program is operated under the Authority’s incentive program for Bilateral Funds and the Israel-Korea Fund (KORIL) in Hebrew and in English. Please refer to the full details on the Fund’s website
For further information about KORIL please refer to KORIL’s website
Deadline for applications' submission is February 25, 2021 at 12:00 PM (Israel time)
- Discuss and Decide to Collaborate
If there is interest to submit a project co-funding application to KORIL, after their discussion on joint R&D collaboration, Companies are advised to contact the KORIL Managers in the respective countries to understand more about the KORIL Program and to share with the KORIL Managers the proposed project in mind.
- Submit Full Proposal to KORIL
After reading the Handbook, the Israeli and Korean company jointly fill the proposal forms and needed annexes.
The full proposal will be submitted to the KORIL-RDF Israel Office to Ms. Ella Heller Israel Manager: Ella.firstname.lastname@example.org the KORIL Korean office email@example.com and firstname.lastname@example.org, and the and the Israel Innovation Authority’s online system by 12:00 IST, 25.2.21.
To find out more on how to upload your proposal to the Israel Innovation Authority’s system – kindly read the KORIL Handbook
- Project Evaluation
Following the Full Proposal Submission, Evaluation Meetings will be conducted in Korea and Israel at the Companies’ premises respectively. Independent Reviewers and the KORIL team will visit the Companies and presentation on the Project will be required from both Companies during the Meetings.
- KORIL Board Approval
After the Project Evaluation, the Project Proposal will be presented to the KORIL Board for approval. The KORIL Board Meeting is convened twice a year. Approval's decision of the KORIL Board will be conveyed in writing to both Companies
For additional information regarding the submission process please refer to KORIL website.
Deadline for submission is 25/02/21 at 12:00. The application process is detailed on the Israel-Korea Fund (KORIL) website.
The applications need to be submitted by the Israeli companies and their foreign partners in collaboration.
Interested in this collaboration program but do not have a partner? Fill the Partner Search Form, send it to the contact email below, and we will try to help you find the right match.
For Israel Korean Fund (KORIL) by clicking here