The Indiana Economic Development Corp. and the Israel Innovation Authority seek proposals to provide conditional matching funds for research projects developing high-tech solutions in agbiosciences and cybersecurity.
The state said the call for proposals is a step in the Indiana-Israel economic partnership, advancing a memorandum of understanding between the IEDC and Israel Innovation Authority signed by Gov. Eric Holcomb in Tel Aviv, Israel, during an economic development trip in May 2018. Israel is home to the second-highest level of entrepreneurial activity in the world outside of Silicon Valley with more than 6,500 innovative companies and one startup per every 1,600 people, according to the state.
Indiana companies are invited to submit letters of interest and project proposals by Jan. 31. These can be submitted jointly between an Indiana and an Israeli business, or Indiana companies may also submit an individual proposal and receive company matchmaking assistance from the IEDC and Israel Innovation Authority, according to the IEDC.
Businesses should focus on identifying projects that will generate new or significantly improved products or processes for commercialization in global markets, IEDC said.
Finalist companies will be matched, if not already paired, and asked to submit full, bilateral proposals by May 7. The IEDC and Israel Innovation Authority will provide conditional match funding for selected projects to support and accelerate the proposed research and development and commercialization of new solutions.
To be eligible, Indiana companies must meet the following criteria:
- Be an Indiana-based entity with annual revenue less than $100 million and a majority of its payroll dedicated to Hoosier employees;
- Be an advanced-technology or knowledge-based business in agbiosciences or cybersecurity;
- Have a protected intellectual property position, such as trade secrets, patents and/or trademarks, or a distinct competitive advantage making the product difficult to replicate;
- Have a high-impact business model that demonstrates potential for the company to grow its operations in Indiana, creating high-wage jobs and revenues;
- Have money invested by the principals and/or founders, and/or have raised initial capital from other sources;
- Be able to collaborate with an unrelated Israeli company, meaning the Indiana and Israeli companies are separate legal entities and do not have a parent or controlled subsidiary relationship. The companies may have a prior working relationship, but may not apply for funding of a project initiated prior to this request for proposals.
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