KORIL

Open Date

Deadline for Submission

Time Zone

Israel

Participating Agencies

IIA

Israel Innovation Authority

KORIL logo

Korea-Israel Industrial R&D Foundation (KORIL-RDF)

Summary

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.

Relevant Technologies

All technology sectors

Program Description

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$2M in funding for joint R&D projects and for Pilot collaboration up to 1M USD.

Through joint R&D and Pilot collaboration and KORIL’s funding, companies have:

Created new/enhanced products and technology,
Expanded product portfolio for customers,
Created new markets, and
Shortened time to bring new/enhanced products and technology into the market

KORIL and offers 3 funding programs:

  1. KORIL General – For R&D project which cost above US$100K with product or technology that could be commercialized and project duration not more than 3 years
    Fund up to US$2M or 30% to 50% of the total qualified project cost, whichever is lower.
    Fund up to US$30K for commercialization activities.
     
  2. KORIL Pilot – The purpose of KORIL Pilot Program is to meet post-R&D gap by supporting scale-up, pilot testing and commercialization of near-market technologies (e.g. TRL 6-8).
    Project duration not more than 1 year. 
    Fund up to 1M USD or 30% to 50% of the total qualified project cost, whichever is lower.
    Fund up to US$30K for commercialization activities.
     
  3. Feasibility Study – For investigation project to determine the technical feasibility and market acceptability of a new product or process concept.
    Fund up to $50K or 50% of the total qualified project cost, whichever is lower.

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This program is operated under the Authority’s incentive program for Bilateral Funds and the Israel-Korea Fund (KORIL). You can find further information on this incentive program on our websites in Hebrew and in English.

arrow For further information about KORIL please refer to KORIL’s website

Criteria

  1. The application must be jointly submitted by a Korean-registered company and an Israel-registered company. 
  2. Either company must not have more than 20% shareholding in the partnering company. 
    The joint project must be undertaken in Korea and Israel.
  3. At least 30% of the actual R&D work must be done in Korea as well as in Israel. 
  4. Technology and product developed must have potential for commercialization.
  5. Companies must have the ability to fund the supplementary portion of their project budget after a grant.

Evaluation Criteria:

  • Technical Capabilities
  • Financial Capability
  • Commercialization/Marketing Capability
  • Synergy Between Companies
  • Complementarity
  • Level of Innovation/Novelty
  • Potential for Commercialization Success

 

The preconditions and criteria for evaluation are detailed in the Authority’s incentive program for Bilateral Funds and the Israel-Korea Fund (KORIL) website.

Funding

The KORIL-RDF funding covers the R&D portion of the companies’ total development cost in the joint projects. 
KORIL General's maximum period is 3 years and KORIL Pilots' maximum period is 1 year. 
The maximum actual grant will vary to be commensurate with proposal evaluation grades.

Overall Grade

A

B+

B

B-

C

Maximum Grant (%)

50

45

40

35

30

Maximum Grant (USD)

General

2M

1.8M

1.6M

1.4M

1.2M

Pilot

1M

0.9M

0.8M

0.7M

0.6M

The support offered is detailed in the Authority’s incentive program for Bilateral Funds and the Israel-Korea Fund (KORIL) website.

 

Application Process

Deadline for applications' submission is February 28, 2022 at 12:00 PM (Israel time)

  1. 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/Pilot 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/SIIRD Managers the proposed project in mind.
  2. 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.heller@innovationisrael.org.il  the KORIL Korean office Ms. Sooah Lee sooahlee@koril.org    , and the and the Israel Innovation Authority’s online system by 12:00 IST, 28.2.22. 
    To find out more on how to upload your proposal to the Israel Innovation Authority’s system – kindly read the KORIL Handbook 
  3. 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.
  4. 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
website  

The deadline for submission is ‏28/02/22 at 12:00

The applications must be submitted by the Israeli companies and their foreign partners in conjunction.

For additional information, please contact:

Position

APAC desk, International Collaborations Division

Organization

Israel Innovation Authority

Name

Ms. Sooah lee

Position

Industry Analyst

Organization

KORIL Foundation
Telephone