I would like to introduce you to a new grant program initiated by the Office of the Chief Scientist and the Ministry of Economy (sometimes the State not just asking what you can do for it, but also does something for you… )

The grant program is made for seed level start-ups in all high-tech industries,  that hadn’t received any other governmental grant (except “TNUFA” program and the incubators sponsored by the government programs, those are eligible for the grant even though already received some sort of governmental support).

The Grant includes receiving up to 50% of the start-up’s R&D authorized expenses up to 5 million NIS. Companies located at the periphery areas are eligible for additional 10%.

The so called downside is the necessity to find supplementary  private funding. More accurately  – for each NIS you receive from the government you need to show supplementary financing from private investors against equity, not later than 6 months after receiving the grant.

The eligibility terms:

1. New company incorporated less than 3 years before applying.
2. Sales volume  (if exists)  not higher than 0.5 million NIS a year.
3. Private funding raised up to the application  doesn’t exceed 2 million NIS. In the year preceding the application private funding doesn’t exceed 1 million NIS.
4. The sum of all the expenses does not exceed 3 million NIS.
5. Lack of debts (such as open files at the enforcement and collection agency, limited or attached by a lien bank accounts, etc).

Please see attached the link for the program details  http://www.incubators.org.il/category.aspx?id=38580