Israel to Award Companies Grants for Coronavirus Research
Program will award a combined $1.3 million to applicants
The government will grant Israeli companies 50 million shekels ($13 million) for research and development of products and technologies to help fight Covid-19, the Economy and Industry Ministry said on Tuesday.
The Israel Innovation Authority, Economy Ministry and the Manufacturers’ Association of Israel also called on companies to submit research and development plans to help develop or expedite the launch of technologies to combat the virus, the ministry said on Tuesday.
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“Every company with a solution, whether it is in the proof-of-concept stage or has a complete product that can be immediately used by our healthcare services, are invited to contact the Israel Innovation Authority as soon as today,” Economy Minister Eli Cohen said.
Among the technologies that the program is looking to fund are digital tools for controlling and predicting the spread of the coronavirus, remote medicine technologies, repurposing of existing drugs and treatments, measures for preventing contagion, improved diagnostic tools and even technology that helps adults cope with staying at home for extended periods.
Applications will be evaluated in a fast-track process. The first call for proposals will be for projects at the idea stage, the second for those under development, including for prototypes and beta testing and the third for R&D programs for industrial products.
Financial support will be 50% of R&D costs, but can reach as high as 75% if it is deemed as leading to a potentially groundbreaking development.