{"id":2749,"date":"2022-01-06T11:23:00","date_gmt":"2022-01-06T11:23:00","guid":{"rendered":"https:\/\/innovationisrael.org.il\/en\/?post_type=press_release&p=2749"},"modified":"2023-10-22T06:34:08","modified_gmt":"2023-10-22T06:34:08","slug":"nis18-5-million-to-11-companies-for-innovative-space-technologies","status":"publish","type":"press_release","link":"https:\/\/innovationisrael.org.il\/en\/press_release\/nis18-5-million-to-11-companies-for-innovative-space-technologies\/","title":{"rendered":"NIS18.5 million to 11 Companies for Innovative Space Technologies"},"content":{"rendered":"\n

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The Israel Space Agency in the Ministry for Innovation, Science and Technology, in partnership with the Israel Innovation Authority, provide NIS18.5 million to 11 Companies for the Development of Innovative Space Technologies.<\/h2>\n\n\n\n

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Approved in the framework of the space program initiated by the Israel Space Agency in the Ministry of Innovation, Science and Technology in collaboration with the Israel Innovation Authority:<\/h1>\n\n\n\n

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NIS18.5 million to 11 Companies for the Development of Innovative Space Technologies<\/h2>\n\n\n\n

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Minister of Innovation, Science and Technology, Orit Farkash-Hacohen<\/strong>: \u201cI welcome and applaud this important initiative from the Israel Space Agency, under the Ministry of Innovation, Science and Technology, to advance civilian innovations related to space. The global space industry is going through a real revolution. The market doubled in size over the last decade and is expected to grow to a trillion dollars in the coming years. The State of Israel has clear advantages in the space industry, but especially in the security domain. Therefore, we now have to succeed and to promote the civilian dimension of space and to connect it to the Israeli high-tech industry \u2013 this is exactly what the Israel Space Agency program does. The program will strengthen and promote 11 technological companies in the fields of satellite communications, rocket propulsion, sensors that will contribute to dealing with climate change, mining, agriculture, and more. The space industry is gaining momentum and touches on every area of our lives, and this program is part of the important process of strengthening this industry.\u201d <\/p>\n\n\n\n

Brigadier-General (res.) Uri Oron, Director General of the Israel Space Agency<\/strong> (in the Ministry of Innovation, Science and Technology): \u201cThe global space industry is at an unprecedented stage of growth. This program allows the entry of new players into this sector in Israel, as well as the strengthening of existing companies, while leveraging technological abilities in the existing space industry in Israel. This combination constitutes a social and economic growth engine.\u201d <\/p>\n\n\n\n

Dror Bin, Israel Innovation Authority CEO<\/strong>: \u201cThe development of the space industry in Israel is a stimulus for social and economic growth. Investment in the space industry leverages existing strengths, and in doing so creates congruence between successful segments in this field and Israeli capabilities in AI, cyber, and remote sensing. The support of the Israel Innovation Authority and the Israel Space Agency is only given after wide-ranging professional consultations about the project and constitutes a stamp of approval for companies in the industry, making it easier for them to recruit investors further down the road.\u201d<\/p>\n\n\n\n

The Israel Space Agency in the Ministry for Innovation, Science and Technology, in partnership with the Israel Innovation Authority, offers support in the space sector that encourages research and development for finding new, innovative and advanced technological solutions and products in the space sector, including the use of the space environment, or through integration, processing and analyzing data from space. In the framework of this program, which exists since 2012, 62 R&D projects already won a total of around NIS160 million.<\/p>\n\n\n\n

The goal of the program is to strengthen the knowledge and the technological development capabilities of the space industry in Israel, to encourage the growth of space technologies startups, to encourage the use of existing technologies for space, reduce knowledge gaps with regards to what is happening in the global space markets, improve Israeli industry’s competitiveness and increase Israeli industry\u2019s use of scientific knowledge accrued from space technologies. <\/p>\n\n\n\n

The program is aimed at companies that are developing space products which are designed for installation in satellites or in ground stations that are used for purposes of command & control and communication; companies that develop instrumentation and equipment for calibration and checking space products that are designed for installation in satellites or are connected to their activities; companies that are developing space products that are designed for use in space or for installation in space systems; and companies that deal with processing and analyzing data from space.<\/p>\n\n\n\n

In the framework of the program, companies were approved to receive financial support of around 20 \u2013 50% of R&D costs. For smaller companies, or when the product is solely designed for space, the rate of the grant is even higher \u2013 60%, 70%, 80% or 85%. These amounts, which are higher than the rest of the sub-programs, reflect the high risk and the technological and infrastructural complexity for developments in the space sector. <\/p>\n\n\n\n

The program allows long-term R&D for development of future innovative products and technologies that will provide the company with a competitive advantage, allows them to penetrate new markets and strengthen the general growth of the Israeli economy.
The program provides participates with risk sharing in the development process, without reliance on profits or future successes. The supported company will repay the funding it receives to the Israel Innovation Authority with royalty payments from sales, only if the enterprise succeeds in reaching the commercial stage.<\/p>\n\n\n\n

Selection criteria includes: <\/p>\n\n\n\n