https://business.vic.gov.au/grants-and-programs/vistech
The Victoria (Australia) – Israel Science & Technology Research & Development Program (VISTECH) was established in 2005 to promote, facilitate and support jointly approved science and technology research and development (R&D) projects between Israeli and Victorian Companies.
Israeli and Victorian companies engaged in collaborative R&D projects are invited to apply for funding under the program at any time.
Grants of up to $250,000 are available to support collaborative R&D projects by Victorian and Israeli organisations. The aim of the VISTECH program is to support the implementation of market-oriented collaborative research and development projects by Victorian and Israeli businesses.
Phase I of the submission process requires applicants to submit a Bilateral Cooperation Form and LOI together. After receiving approval, they will be asked to submit separate national applications for Phase II submissions.
MATIMOP can also assist in identifying partners for projects in Australia and Israel.
Please find full instructions, guidelines and application forms on the MATIMOP website and contact the Israel Trade Commission in Sydney if you are interested in applying.
For BusinessVictoria info about VISTECH please click here.
To see previous successfully funded projects, please click here
The Parties
Israel: Government of Israel, The Ministry of Industry, Trade and Labor (MOITAL) through the Office of the Scientist.
Victoria: Government of Victoria (Australia), through the Department of Innovation, Industry & Regional Development.
Administrative Agencies
Israel: MATIMOP, the Executive Agency of the Office of the Scientist (OCS) for International Collaborations
Victoria: DEDJTR, Department of Economic Development, Jobs, Transport and Resource
Preferred technologies/sectors
The program supports joint commercially focused R&D projects between Israeli and Victorian companies*, mainly in the fields of Life Sciences, Nanotechnology and Environmental Technology.
*Academic entities are eligible to join as sub-contractors.
Key Points
Grant
Grants are given up to 50%* of the approved R&D expenditures.
No equity or IP rights are asked in return.
Repayment
When a project is successful in achieving sales of a product or process, the financial support provided shall be repaid, based on sales revenues, and in accordance with the laws and regulations in the two respective states.
Generally speaking, in Israel, the grant is repayable up to the original amount (indexed linked plus annual interest rate) and the repayment rate is 3% – 6% of the product sales.
If the project has no commercial outcome – no repayment shall be required.
Qualification Criteria:
- Collaboration between an Israeli company and a Victorian company is required to jointly develop a new product or a new process. Other entitles (such as academic entities, Hospitals, Clinics, etc.) are eligible to join as sub-contractors.
- The product should be highly innovative.
- Significant commercial potential.
- Added value to the Israeli Economy.
- The entities should have the technological, commercial and financial abilities to successfully bring the new product to market.
- The partners should agree in advance on the IP rights and on the commercialization strategy of the product.
(Technical know-how acquired in the project is expected to be shared between the partners in a way that would reflect each partner contribution to the project).
VISTECH contact details:
Israel:
Hadas Kroitoru
Program Manager, MATIMOP Israeli Industry Center for R&D
hadas@matimop.org.il
Tel : 972-3-5118117
Victoria:
VISTECH Program Manager
Department of Economic Development
israeltrade.org.au 