Summary:

Program Description

KORIL-RDF seeks 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$2M in funding for joint R&D projects between them.
Through joint R&D collaboration and KORIL-RDF’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

Funding

In December 2018, the Board of Directors agreed to implement a pilot grant increase for full-scale project proposals, up to a maximum of USD 2 million (per project). KORIL-RDF is glad to announce that this will continue throughout 2019.

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 evaluation grades.

Criteria

• Companies from Israel and Korea that are collaborating to develop a joint technological and innovative project are eligible to submit a proposal for grant.
• The products that are developed under these joint initiatives must be market oriented, have potential for commercialization, and applicable to civil use.
• 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.

Application Process

The Israeli proposals will be submitted to the KORIL-RDF Israel Office to Adv. Shirley Refuah, Senior Israel Manager (Temp):
E-mail : Deborah.Schabes@innovationisrael.org.il

Submission Process:

1. Discuss and Decide to Collaborate
   If there is interest to submit a project co-funding application to KORIL-RDF, after their discussion on joint R&D collaboration, Companies are advised to contact the KORIL-RDF Managers in the respective countries to understand more about the KORIL-RDF Program and to share with the KORIL-RDF Managers the proposed project in mind.
2. Describe the technical aspects, which include:
   • The innovation
   • The proposed R&D project detailing the schedule and the involvement of the two parties
3. Submit a business plan, which should describe the following:
   • Market potential – i.e., potential size; competitive edge, etc.
   • Commercialization – i.e., respective company roles; manufacturing/production; marketing
   • Strategies; projected return on investment
   • Cooperation & benefits shared financial exposure; projected benefits for each party
   • Organization & management plan
   • Company & personnel descriptions
   • Project budget for both companies
4. 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-RDF team will visit the Companies and presentation on the Project will be required from both Companies during the Meetings.
5. KORIL-RDF Board Approval
   After the Project Evaluation, the Project Proposal will be presented to the KORIL-RDF Board for approval. The KORIL-RDF Board Meeting is convened twice a year. Approval’s decision of the KORIL-RDF Board will be conveyed in writing to both Companies.
   The approval process takes up to 3 months for these projects with appropriate evaluation and assessment.
   For additional information regarding the submission process please refer to the website

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