innovation israel

Ideation (Tnufa) Incentive Program

Goal of the incentive program:

Support entrepreneurs in proof of concept and business feasibility of early stage projects.

Who is the incentive program for?

• Entrepreneurs
• New Israeli startup companies

What do you get?

• Entrepreneurs and new Israeli startup companies can receive a conditional grant of up to NIS 200,000 over a period of two years: NIS 100,000 awarded each year (85% of the approved budget).
• The funds are used for building an initial prototype, intellectual property protection and business development, including materials, degradable components, sub-contractors and consultants, patent attorneys and exhibition expenses (not intended for salaries and overhead expenses).

Why should you apply for this incentive program?

Benefits: The entrepreneurs are not obliged to leave their place of work or establish a company as a condition for receiving support or to give up his rights to the project.

Quality Hallmark support: The support of the Ideation (Tnufa) incentive program is an objective vote of confidence that can assist entrepreneurs in raising additional capital following initial funding provided by the program.

Follow-on funding by the Authority: Following the completion of the program’s support period, the project may receive support from one of the additional incentive programs offered by the Authority.

Attractive funding model: The incentive program offers participation in risks inherent to the company’s development process but not in future profits or success. A company undertakes to repay the Authority’s grants via royalty payments from product sales.

 

 

Pilot: Innovation Visas Program for Foreign Entrepreneurs

The innovation visa enables foreign entrepreneurs from around the world to develop and formulate their technological initiatives in Israel. This first-of-its-kind program enables foreign entrepreneurs to stay in Israel for a period of up to 24 months during which they can receive support under the Innovation Authority’s ‘Tnufa’ Program. While in Israel the foreign entrepreneurs will be hosted in one of twelve selected Landing Pads for Foreign Entrepreneurs. These will expose the entrepreneurs to Israel’s innovation ecosystem, provide them with a workspace and technological infrastructure, as well as business and logistic support.

Should the project subsequently mature into a company, the foreign entrepreneur will be able to receive an ‘expert visa’ and file a request for support from the Israel Innovation Authority’s different programs. Such further support may allow entrepreneurs to stay in Israel and work on the project as an employee for a period of up to 5 additional years

For further details: Ideation (Tnufa) Incentive Program
 

Innovation Labs Program

Goal of the incentive program

The Innovation Labs program is designed to provide entrepreneurs with access to unique technological infrastructure, market insights, marketing avenues and to industry expertise, in order to attain proof of concept and transform technological ideas into products. The lab offers corporations an opportunity to implement open innovation, take part in the leading Israeli ecosystem and gain exposure to a plethora of innovative developments.

Who is the incentive program for?

• Leading corporations interested in establishing innovation labs and take part in the cutting-edge Israeli technological community.
• Entrepreneurs with a technological idea who are interested in gaining access to a unique technological infrastructure, leading corporate innovation teams, market expertise, and exposure to a corporate network, including customers and investors.

What do you get?

Corporations:

• Three-year license with the possibility to extend the license for additional three years.
• The Authority will fund up to NIS 4 million of the lab’s establishment (33% of the costs, 50% in the periphery areas), and up to NIS 500,000 (50% of the approved budget) of the ongoing operating expenditures of the lab, each year.

Startup companies:

• An attractive grant: A conditional grant of up to NIS 850,000 over a period of 1 year (85% of the approved budget).

Why should you apply for this program?

Corporations:

• The Israeli ecosystem: Exposure to the Israeli innovation ecosystem as a source of growth.
• Open innovation leadership: An opportunity to create value for stakeholders.

Start-up companies:

• Collaboration with corporations: an opportunity to gain access to technological infrastructure in order to attain proof of concept and market value offered by the corporation.
• Flexible conditions: The entrepreneur is not required to establish a company before the project is approved by the Innovation Authority.
• Attractive funding model: The incentive program offers participation in the risks involved in the company’s development process but not in future profits or successes. A company undertakes to repay the grants received by the Authority via royalty payments from product sales.

For further details: Innovation Labs Program