Victoria-Israel Science and Technology R&D Fund (VISTECH)

Up to $250,000 is available through VISTECH to support collaborative R&D projects by Victorian and Israeli organisations.

VISTECH

Victoria-Israel Science and Technology R&D Fund (VISTECH)

The Victoria-Israel Science and Technology Research and Development (VISTECH) Program provides funding support for market-oriented collaborative research and development (R&D) projects by Victorian (Australia) and Israeli companies, consistent with the Cooperation Agreement in place between Victoria and Israel since 2005.  In Victoria, VISTECH is one of the programs of the Victoria Israel Science Innovation and Technology Scheme (VISITS).

 

Background

The VISTECH program is part of the Victoria-Israel Science Innovation and Technology Scheme (VISITS), an initiative providing Victorian and Israeli organisations with the opportunity to work collaboratively on projects of mutual benefit.

The VISTECH program supports collaborative R&D projects aimed at achieving commercialisation of new or improved products, processes or services that can potentially contribute to the economic development of Victoria and Israel.

 

Objectives

The VISTECH program aims to:

  • Provide incentives for Victorian and Israeli companies to collaborate on research and development activities pertaining to technology-based products, processes or services;
  • Advance such technologies to commercial readiness; and
  • Identify steps for realisation of economic benefits for all parties concerned.

 

Funding

Financial support of up to AUD$250,000 per project (approximately US$225,000, depending on exchange rate) is available to Victorian-based companies, provided by the Victorian Government as a grant.  Financial support of up to 50% of approved R&D expenses is available to Israel-based companies, provided by the Office of the Chief Scientist (OCS) of the Israeli Ministry of Economy, as a soft loan/conditional grant. For both Israeli and Victorian companies, financial support of up to 50% of eligible R&D expenses of approved projects are provided.

 

Eligible Projects

  • The projects must involve cooperation by the applicants on joint, market driven, science and technology related research and development of new products, processes or services.
  • The projects must involve at least one Victorian and one Israeli company and may involve more than one organisation from each jurisdiction. Academic and research institutions are not eligible to apply for funding directly, however, they may be sub-contracted by the companies to undertake parts of the projects.
  • The applicants must demonstrate that they have ready access to the required infrastructure and resources to complete the projects.  Also, the applicants must have the ability to deliver newly developed technologies to the market in the short to medium term.
  • The project contributions by the Victorian and Israeli applicants must be fairly balanced.
  • Projects in any sector or field are appropriate.
  • Relevant project issues must be addressed in the application documentation, including a project plan and budget.

 

Eligible Applicants

Collaborating companies take forward parallel applications in Victoria and Israel.

The Victorian applicant must be a company that:

  • is a for-profit entity and have its registered office and principal place of business located in Victoria ;
  • meets the requirement of a co-contribution to the project;
  • has not been awarded funding of more than AUD$250,000 (plus GST) through any program of the Victorian Government in relation to the proposed technology; and
  • is not currently involved in litigation against the State Government of Victoria.

Israeli applicants must be R&D performing Israeli registered companies operating in Israel.

Victorian and Israeli applicants cannot be related in any way.  That is, the applicants must be entirely separate legal entities, with no financial or other ties.

Therefore, applicants must not:

  • be owned by the same parent company;
  • be related bodies corporate within the meaning of the Corporations Act 2001 (Commonwealth of Australia);
  • share governance; nor
  • have common directors, officers or senior managers.

Academic institutions can participate but as subcontractors only.

 

Timing

Applications open on an ongoing basis.

 

More Information

2017-11-26T09:37:58+00:00November 22nd, 2017|