NSW startups explore Israel R&D opportunities with $2 million program

NSW startups gathered today to learn about the NSW-Israel Research and Development and Technological Innovation Program which is offering matched grants of up $250,000 to support joint R&D projects with Israel.

Parliamentary Secretary Ben Franklin said the event, hosted by the Israel Trade Commission in partnership with the ASX and the NSW Government, encouraged interested startups to actively seek and leverage Israeli research partners.

“Israel is one of the world’s leading innovation powerhouses and this $2 million program will help NSW and Israel businesses build global commercial capabilities,” Mr Franklin said.

“NSW startups can access matched grants of up to $250,000 to support joint R&D projects with Israel with round one applications closing on 18 December 2017, to be followed by two more rounds of applications in 2018.

“Applications are invited from all sectors but we are particularly keen to develop projects in cyber security, agritech, water management and drought mitigation.

“Israel has particular strengths including in cyber security, mobility, advanced manufacturing and environmental sciences from which NSW can benefit.”

Mr Franklin said the program follows a 2016 Memorandum of Understanding (MoU) between the NSW Government and Israel for Bilateral Cooperation in R&D and Technology Innovation.

“NSW and Israel have the capabilities to form a formidable technology partnership to develop new innovative products, processes and services for global markets to support economic growth, skills and job creation across both countries,” Mr Franklin said.

For further information on the program and how to apply visit http://www.industry.nsw.gov.au/israelresearchprogram.