The Korea-Israel Industrial Research and Development Fund (KORIL-RDF) is a bi-national fund created by the Government of South Korea and the Government of Israel with the aim of promoting and supporting innovative technological cooperation between Israeli and South Korean commercial companies.
The Innovation Authority operates this call under the Bi-National Funds Track , the Israel-Korea Fund (KORIL). For more details, see the foundation's page.
Description of the calling voice
The KORIL Foundation promotes research and development collaborations between Korea and Israel, and funds up to US $ 1 million for a joint project of companies from the two countries.
Funding encourages collaborations to develop and upgrade innovative technologies in all areas and examine their feasibility in order to help companies expand their product portfolio to customers, reach new markets, and shorten their time to market.
Target Audience
Technology companies from all fields interested in cooperating with Korean companies.
Funding
The fund has 3 funding plans:
Full Scale - Funding up to US $ 1 million for a project or funding between 30% and 50% of approved R&D expenditures (whichever is lower), for a joint project of a product or technology intended for commercialization, lasting between one and three years. In addition, joint commercialization expenses of up to $ 30,000 per project are approved.
Mini Project - Funding up to US $ 200,000 for a project or funding 50% of approved R&D expenditures (whichever is lower), for a joint project of a product or technology intended for commercialization, lasting up to one year. Designed for joint budgets not exceeding US $ 400,000.
Feasibility study - for a project that aims to examine the feasibility of a new product or technology for the market. Funding up to $ 30,000 or funding up to 50% of the approved project expenses (whichever is lower), for a joint project of up to three months.
Learn more about the terms of the Korean Foundation programs
Threshold conditions
The joint application should be submitted jointly by a company registered in Korea and the company registered in Israel.
A company cannot hold more than 20% of the shares in the partner company.
The joint project must be done in Korea and Israel.
At least 30% of the actual R&D work must be done in both Korea and Israel.
The technology and product developed must have the potential for commercialization.
Companies must be able to fund the complementary part of their project budget after a grant.
Criteria for evaluating an application
Technical capabilities for project execution
Financial capabilities
Product commercialization and marketing capabilities
Synergy between partners
Complementary capabilities between partners
The degree of technological or functional innovation
Potential for commercial success
In addition, the threshold conditions and evaluation criteria are detailed on the Binational Funds Track page and on the Israel-Korea Fund website (KORIL).
How to submit the application
An application can be submitted until 2.8.2021 at 12:00 Israel time.
Discuss with partner and decide to cooperate - if there is a desire to apply for funding joint project of KORIL, the partners will discuss cooperation on R & D joint advised to contact the administrators KORIL Korea and Israel, to consult and to talk about the proposed project and partner. Please read the page guidelines Full of the fund.
After reading the instructions, fill out the application form and its appendices together with the partners in Korea and submit them as follows:
The above files should be sent to Ella Heller, Director of the Korea Foundation in Israel, to Ella.heller@innovationisrael.org.il
The above files should be sent to the KORIL Korean office in honor of Ms. Sooha Lee to the email sooahlee@koril.org , and in honor of Ms. Soo Mee Chin to susan74@koril.org .
The files must be submitted in the personal area of the Innovation Authority, select the online form "Apply for support" found in the menu on the right, and in the "Binational Funds" route. Details on how to do this can be found in the Foundation's guidelines under the appendix How to submit the proposal in the Israel Innovation System.
* If this is the company's first submission to the Innovation Authority, the company will be required to upload an association certificate to the Innovation Authority's website. If the company has submitted an additional application for funding to the Innovation Authority during the current calendar year, it will be required to upload a "Resource Concentration" form. Details only about these 2 documents on the page of the R&D support track with international partners.
* The forms submitted through the system must match the forms submitted by email to the Foundation. Any difference he finds will result in the cancellation of the application!
* The Innovation Authority only accepts complete and valid applications, which are submitted together with all the forms that appear according to the terms of the fund. In cases of submission to a call, a request received after 12:00 noon or in an incomplete and improper manner will be rejected and returned to the sender.
Project review - After submitting the full application, evaluation meetings will be held in Korea and Israel in the companies themselves. Independent professional examiners and the KORIL team will visit the companies and the presentation of the project will be required from both companies during the meetings.
Board approval - After reviewing the project, the project proposal will be presented to the board of the fund for decision. The fund's board meets twice a year.
If you are an Israeli company that is interested in this type of cooperation but does not have a partner, you can also contact us to help find a relevant partner by filling out the partner search form.
For details and contact
For details regarding funding from the Korea Fund, please contact Ella Heller, Director of the Korea Fund in Israel by email: Ella.heller@innovationisrael.org.il or by phone: + 972-3-5118143.
Contact information for the S. Korea office: Ms. Soo Mee Chin susan74@koril.org or with Ms.Sooha Lee sooahlee@koril.org