The Victoria-Israel Technology R&D Fund (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.
For BusinessVictoria info about VISTECH please click here
For general PPT introduction of Vistech please click here
Download Vistech Brochure
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 (OCS)
Victoria: Government of Victoria (Australia), through the Department of Innovation, Industry & Regional Development (DIIRD)
Administrative Agencies
Israel : MATIMOP, the Executive Agency of the Office of the Scientist (OCS) for International Collaborations
Victoria : DIIRD, Department of Innovation, Industry & Regional Development
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 and limited to $US 500,000 per project.
No equity or IP rights are asked in return.
* For detailed regarding the percentage of support provided, Israeli companies please read the following Hebrew Link
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.
For detailed, official, and binding information, regarding repayment policy, Israeli companies please read the following Hebrew Link.
Qualification Criteria:
- Fruitful Collaboration: between an Israeli company and a Victorian company 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 p
VISTECH contact details:
Israel:
Merav Tapiero
Program Manager
Asia – Pacific Desk
MATIMOP Israeli Industry Center for R&D
merav@matimop.org.il
Tel : 972-3-5118169
Victoria:
Roland Diggens
Manager – International Cooperation Initiatives and VISTECH Science and Technology Program.
Innovation and Technology Division
Business Victoria
roland.diggens@iird.vic.gov.au
Tel: +61 3 9651 8102
Fax +61 3 9651 923