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:
| Overall Grade | A | B+ | B | B- | C | D |
| Maximum Grant % of funding | 50% | 45% | 40% | 35% | 30% | Project rejected |
| Maximum Grant | $1,000,000 | $900,000 | $800,000 | $650,000 | $500,000 | $0 |
For more details, please contact our Office at +82-2-747-9443 or by Email: [email protected]
