Fintech pilot

Open Date

Deadline for Submission

Time Zone

Israel

Participating Agencies

IIA

Israel Innovation Authority

ISA

Israel Securities Authority

Summary

The Innovation Authority and the ISA invite you to submit applications for a pilot  in Israel and abroad. Assistance will include access to public MAGNA (Electronic Public Disclosure System) reports' database of the ISA and to the Tel Aviv Stock Exchange trading database (hereinafter: "The TASE"). The program will also include professional guidance from the ISA's staff, as well as financial support. Submission through Benefit Track # 2 (sub track 11). Likewise, we invite you, financial institutions who would like to be approached as potential pilot sites for Fintech companies, to contact us and examine register as a potential pilot site.

Program Description

This call is for Israeli technology companies who would like to conduct a pilot in the Fintech industry. The demonstration sites will be established and operated at the offices of the ISA, at the financial institution offices or at the Fintech company's offices.

Preferred Challenges for this Pilot Program:

  1. Examining the benefits attributed to new and advanced technologies, including DLT, for the development of capital markets, and in particular in the context of developing trading platforms, clearing and settling and stock exchange infrastructure.
  2. Expanding public access to financial information services and innovative products based on financial data and payment initiation services thorough open APIs.
  3. Improving the Know Your Client process in a way that can assist in the choice of suitable investments, thus encouraging the use of digital investment advice and portfolio management services with the aim of making the services more accessible to lower income retail clients

Please note – you can submit an application for other topics which are not mentioned above as long as they are fit and advance the ISA's strategy and role.

Criteria

Preconditions:

  • The filer must be an Israeli company and attach an LOI (Letter of intent) from the pilot site expressing its intent to conduct the pilot as described in the application.
  • The filer must correspond with the reporting duties, registration duties, royalties duties, preservation of knowledge and intellectual property duties, under the Innovation law, benefit Track # 2 and the procedure's rules.

Funding

Participating companies will be entitled to the following:

  • Financial support of 20%-50% from an approved budget.
  • Exceptional financial support of 60% from an approved budget for a pilot with an unusual potential influence on the efficiency and improvement of the capital market or financial services sectors in Israel.

Application Process

The application process is made through the personal area on the innovation authority Hebrew website.
You can find information regarding the application process and the files you need to attach to the application in the next links in Hebrew and in English.
The last date to submit an application is 10/10/2021 on 12:00 a.m.
Answers will be provided on December, 2021.

For additional information, please contact:

Position

Growth Division

Organization

Israel Innovation Authority
Telephone

Position

Fintech

Organization

Israel Securities Authority