Pre-Product Innovative Technology in the Industry
Goal of the incentive program
- Promoting the feasibility of pre-product applied research of cutting-edge technologies in large corporations
Who is the incentive program for?
- A Corporation that invests heavily in technological innovation:
An industrial corporation that meets all the following cumulative pre-conditions:
- Employes over 200 R&D employees in Israel , or whose R&D budget in Israel exceeds US$ 20 million per year, according to its latest financial reports
- Meets one of the following sub-criterias:
- According to the Corporate’s latest financial report; the sales, either direct or indirect, of the corporation’s fully owned (100%) portfolio companies’ Israel-based manufacturing operations exceed US$ 70 million per year.
- The total revenue of the parent company, which holds at least 80% (direct or indirect) of the corporation’s operations as well as any other company held by the parent company, exceeds US$ 2.5 billion per year, according to the corporation’s latest financial report.
- A Corporation that performs generic research:
An industrial corporation that meets one of the following pre- conditions:
- The capital it has raised since the day of incorporation and until three months prior to the month of application exceeds NIS 50,000,000.
- The corporation’s annual revenues exceed NIS 30,000,000, according to the its latest financial report.
What do you get?
- A successful applicant will be granted 55% of the approved R&D budget.
- Maximum annual grant per company under this program is NIS 15 million.
- The maximum duration of the total program is 36 months.
- The grant application is submitted for 12/18/24 months.
Why should I join this incentive program?
- Israel Innovation Authority’s grants helps mitigates the risks of investment in disruptive R&D at low Technology Readiness Level (TRL) levels.
- A corporation that is heavily investing in technological innovation is exempt from paying royalties.
- Innovation Authority’s grants are a quality hallmark and serve as a marker for additional potential investors regarding the high quality and potential of the project.
Program's terms and conditions
- The company is legally incorporated in the state of Israel and operates according to the laws of the state of Israel and most of its activities are for industrial research & development.
- The total funding raised by the company from the day of incorporation to three months prior to submitting the application to the Israel Innovation Authority does not exceed NIS 7.5 million.
- The company’s total income in the calendar year prior to the application submission year does not exceed NIS 3 million.
- The total Seed funding round does not exceed NIS 15 million and at least 75% of it will be for research & development purposes
- Israeli companies seeking further information on the requirements and application process to this program, should refer to the Israel Innovation Authority’s Hebrew site