Grants to Israel and Korea private sector companies for joint development projects for technology and knowledge applications, product customization, prototype beta-testings, systems integration, near commercialization or new market creation. Israeli and Korean companies may work together to propose one of the following types of projects:
1) Feasibility Projects
In cases requiring preliminary investigations to determine the technical feasibility or market acceptability of a new product, technology concept, etc. Such awards are made with the understanding that a formal proposal for a full-scale project will be submitted by the companies, should the feasibility results prove positive.
KORIL-RDF may grant up to $30,000 as its 50% share of the cost of conducting the feasibility project.
2) Mini-Scale R&D Projects
Two companies (from Korea and Israel) considering a partnership may decide to define an initial project of modest size rather than plunge into a higher cost full-scale project of longer duration. Such smaller scale project can apply for KORIL-RDF funding under the category of mini-projects.
The maximum authorized budget for such mini-projects is $200,000 or less, and the maximum duration is approximately one year. Grants are a maximum of $100,000, or 50% of actual project costs, which ever is lower. Commercialization is an expected goal for this project.
3) Full-Scale R&D Projects
A full-scale project is defined as one in which the total recognized cost is between $200,000 and $1,000,000 and the 50% KORIL-RDF contribution to the total cost of the project is between $100,000 and $500,000. The maximum duration of such projects is 3 years.
Others (see text field entitled "Additional Eligibility Criteria" for clarification)
Additional Eligibility Criteria
Companies eligible for KORIL-RDF funding are Korean and Israeli firms, which operate and are headquartered in Korea and Israel, respectively.
Subsidiaries of firms headquartered and owned outside of Korea and Israel are normally not eligible for KORIL-RDF support, unless KORIL-RDF is satisfied that the subsidiary has a global product mandate, and that the project or technology will be substantially produced in and exported from either or both Korea and Israel.
Public sector organizations, such as universities and institutions, are eligible to participate as subcontractors and/or consultants.
Full Proposals should be submitted by February 1, 2016.
Estimated Size of Grant
Feasibility Projects: Up to $30,000.
Mini-scale R&D Projects: Up to $100,000.
Full-scale R&D Projects: $100,000 - $200,000.
Term of Contract
Feasibility Projects have a maximum term of 3 months.
Mini-scale R&D Projects have a maximum term of 12 months.
Full-scale R&D Projects have a maximum term of 36 months.