Ideation (Tnufa) Incentive Program
The Ideation (Tnufa) incentive program is designed for fledgling entrepreneurs to assist them develop and validate innovative technological concepts.
Goal of the incentive program:
Support entrepreneurs in proof of concept and business feasibility of early stage projects.
Who is the incentive program for?
- 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