IIA launches bio-convergence grant for Israeli-South Korean collaborations

Israeli government investment arm the Israel Innovation Authority (IIA), through the Korea-Israel R&D Foundation, announced Tuesday the launch of an open call for bio-convergence projects that include collaborations between Israeli and South Korean companies.

Projects in the following areas of bio-convergence will be considered for a grant: nanorobotics for bio-advanced engineered drug delivery and diagnostics systems; advanced therapeutics discovery systems; tissue engineering; bio-electronics and electroceuticals and bio-sensors and hybrid devices.

IIA will choose up to two projects for grants of up to NIS 7 million (approximately $2 million) to cover up to 50% of each project’s research and development expenses.

"Leadership in groundbreaking bio-convergence technologies requires a combination of Israeli and international technological expertise in the fields of engineering and biology. To this end, the International Collaboration Division at the Israel Innovation Authority is utilizing a variety of tools in conjunction with leading global partners in this field," Avi Luvton, VP International Collaboration Division at the Israel Innovation Authority said in a statement. "This includes Korea, with whom the Authority operates a bi-national foundation to support groundbreaking projects – which will also serve as platform to promote excellence in bio-convergence."