The Korea-Israel Industrial Research and Development Foundation (KORIL-RDF) is happy to announce that the mini scale project funding model has been enlarged from $200,000 to $400,000.
The mini scale project is for a term of up to one year, & proposals may be submitted year round - no deadline.
Following standard KORIL technical evaluation & due diligence procedures, such proposals may be approved by the Chief Executive of KORIL. Board of Directors approval is not required.
KORIL-RDF is a bi-national foundation, created by the governments of the State of Israel and the Republic of Korea, whose mission is to promote & support technological collaboration in innovative R&D between commercial companies in both countries. The products developed in these joint-ventures must have a civilian application and be market oriented. Grants can be obtained for up to 50% of the R&D costs of a project, capped at US$1 million (shared between the two companies).
KORIL-RDF projects are categorized into three types:
|Project Type||Maximum budget for project||Maximum grant from KORIL||Maximum Project term|
|Feasibility Study||$60,000||$30,000||3 Months|
|Mini Scale||$400,000||$200,000||12 Months|
|Full Scale||Unlimited||$1,000,000||26 Months|
KORIL grant award criteria up to:
|Maximum Grant % of funding||50%||45%||40%||35%||30%||Project rejected|
For more details, please contact our Office at +82-2-747-9443 or by Email: [email protected]