The Department of Industry of New South Wales (NSW) in Australia announced a new Research and Development (R&D) and Technological Innovation Program which will provide financial grants of up to AU$250,000 to NSW entities who will cooperate with Israeli entities on joint R&D projects.
Minister of Trade and Industry Niall Blair explained that NSW is “committed to supporting innovation to create the businesses and jobs of tomorrow”, and “in partnering with Israel, an innovation leader, we are putting our best technology companies on the world stage.”
NSW is set on financing up to 50% of total project costs, up to a maximum of AU$250,000, as long as the remaining project costs are covered by the NSW applicant or a third party.
Businesses from all industry fields are invited to apply, but the department will contribute an additional 10% of total project costs for R&D concentrating on:
- regional and rural areas of NSW
- startups or high growth businesses
- cyber security, water management and agri-technology
Support for Starups in Israel proposing collaboration with NSW entities, is reported be matched by the Israel Innovation Authority.