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KORIL-RDF | The Premier R&D Engine, KORIL-RDF. Draw Your Future with Us

KORIL FUND Types of R&D Project

Eligibility

Eligible Industry Fields

The technology must be capable to commercialize and, also near commercialization or new market creation.

It must be considered whether the technology could be potentially profitable through commercialization in industry fields
such as IT (Information Technology), BT (Biology Technology), NT (Nano Technology), New Materials, ET
(Environment Technology) and Aerospace Technology.

Qualification

A Korean private company must apply with an Israeli company with desire for joint industrial R&D collaborations and
commercialization of technologies.
- Any incorporated companies including large enterprises, SMEs and venture companies.

  • Qualifications will be deprived if:
  • The proposed technology is same as the technology which is already supported by Korean or Israeli government
  • The companies violate the law or regulation in Korea or Israel
  • The companies do not comply with the policy or the regulation of KORIL-RDF

Application Period

Notification for a call for proposal will be on the web-site of KORIL-RDF and the Ministry of Knowledge Economy of Korea (MKE), other related institutions and also economic magazines twice a year.

Application Procedure

Submit a joint R&D proposal prepared by both a Korean company and an Israeli company via e-mail. A proposal should be submitted to both offices in Israel and Korea.

* Please refer to KORIL procedures for further details.

Types of Projects

Feasibility Project

In cases requiring preliminary investigations to determine the technical feasibility or market acceptability of a new product or process concept, KORIL-RDF may grant up to USD 30,000 as its 50% share of the cost of conducting the feasibility tests.
Such awards are made with the understanding that a formal proposal for a full-scale project will be submitted by the companies, should the feasibility results prove positive.

KORIL-RDF Chief Executive has the authority to approve feasibility projects. In this context, the decision will take into
consideration third party expert advice from technical experts in both countries.

Subject Investigation on technology feasibility, new product and acceptability
Grant amount Covering 50% of total project cost up to USD 30,000
Development period 3 months
Approval authority Chief Executive (based on evaluations of both governments and experts)

Mini-Scale R&D Project

Two companies (from Korea and Israel) considering a partnership may decide to define an initial project of modest size rather than plunge into a higher cost full-scale project of longer duration. Such smaller scale projects can apply for KORIL-RDF fund under the category of mini-project.

The total recognized cost of such mini-project is about USD 400,000 or less, and the maximum duration is approximately one year. Grants are a maximum of USD 200,000, or 50% of actual project costs, which ever is lower. Commercialization is an expected goal for such project.

Mini-project proposal preparation formalities will be less stringent than those associated with a full-scale project. However, the same criteria regarding business/technical capabilities and commercial potential are applied.

Proposals for mini-projects will be acted upon throughout the year, and a definitive response to such proposals will be given within 8 weeks with appropriate evaluation and assessment process. Once approved, mini-projects are implemented under the same agreements as full-scale projects.

KORIL-RDF's Chief Executive has the authority to approve mini-projects. Inputs from the technical assessments made by both countries will be taken as major considerations in the decision-making.

Subject R&D Project with capability of commercialization in a short term
Grant amount Covering 50% of total project cost up to USD200,000
Development period 1 year
Approval authority Chief Executive (based on evaluations of both governments and experts)

Full-Scale Project

A full-scale project is defined as one in which the total recognized cost is over USD 200,000 and the maximum KORIL-RDF contribution to the cost of the project is up to USD 1,000,000. Maximum duration of such project is 3 years.

The Korean and the Israeli company jointly submit a two-part proposal to KORIL.

  • Part I is to describe the technical aspects, which include:
  • The innovation
  • The proposed R&D project detailing the schedule and the involvement of the two parties
  • Part II is the business plan, which should describe the following:
  • Market potential - i.e., potential size; competitive edge, etc.
  • Commercialization - i.e., respective company roles; manufacturing/production; marketing
  • Strategies; projected return on investment
  • Cooperation & benefits shared financial exposure; projected benefits for each party
  • Organization & management plan
  • Company & personnel descriptions
  • Project budget for both companies

KORIL-RDF's Board of Directors will meet biannually to act on proposals for full-scale projects. The Board's review is based primarily on confidential proposal reviews by Office of the Chief Scientist of Israel's Ministry of Industry, Trade and Labor (MOITaL), the Ministry of Knowledge Economy of Korea (MKE), and Board of Directors of KORIL-RDF. KORIL-RDF Chief Executive will submit his specific recommendations to the Board of Directors.

Approvals, rejections, or changes are made by the Board of Directors. The approval process takes up to 3 months for these projects with appropriate evaluation and assessment. Although the Board typically convenes quarterly to take actions on these proposals, highly meritorious proposals that offer exceptional opportunities to the proposing companies can be evaluated and acted upon throughout the year.

Subject R&D Project with capability of commercialization in a long term
Grant amount Covering 50% of total project cost up to USD 1,000,000
Development period 3 years
Approval authority KORIL-RDF's Board of Directors(8 Directors in total: 4 from each country)
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