Deadline for Submission
Israel Innovation Authority
Korea-Israel Industrial 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-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$1M 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
- 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.
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.
|Maximum Grant (%)||50||45||40||35||30|
|Maximum Grant (USD)||1,000,000||900,000||800,000||650,000||500,000|
Israeli proposals should be submitted to the KORIL-RDF Israel Office to Ms. Ella Heller Israel Manager:
E-mail : Ella.firstname.lastname@example.org
- 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.
- Describe the technical aspects, which include:
- The innovation
- The proposed R&D project detailing the schedule and the involvement of the two parties
- 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
- 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.
- 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 Fundation's website.