Israeli Government Announces NIS 50 Million in Grants for Corona-Fighting Startups
The grant, spearheaded by government investment arm the Israel Innovation Authority, will support companies from all sectors with products that address the challenges of the coronavirus pandemic
Hagar Ravet | 15:12 17.03.2020
Israeli government investment arm the Israel Innovation Authority (IIA), Israel’s Ministry of Health, and the Ministry for Social Equality through its Digital Israel initiative, announced Tuesday the allocation of NIS 50 million (approximately $13 million) in grants for corona-fighting startups and companies. The grants will be allocated to companies submitting research and development plans, proofs-of-concept, products, and technological solutions that address the challenges of the coronavirus (Covid-19) pandemic. In addition, IIA, the Israeli Ministry of Economy and Industry, and the Manufacturers Association of Israel are calling on industrial facilities and companies to submit R&D plans for the increased production of coronavirus-related products. As part of the initiative, the government will offer financial support of 50% to 75% of expenses to plans that will demonstrate the potential to bolster the country’s healthcare system or provide breakthroughs in the fight against coronavirus.