Objective: To promote the young agrotech industry in the agricultural sector as part of Israel's national innovation system
The financial support will be given in the framework of a program sponsored by the Innovation Authority for the advancement of research and technological projects
The Minister of Agriculture, Uri Ariel: Israel is at the forefront of global agricultural technologies. The advanced technologies developed in this country can cope with the numerous challenges facing the food and agriculture sector. We continue to bolster the nascent agrotechnological companies, in order to promote innovative developments and sustain our leadership on this front in the world"
The Minister of Economy and Industry, Eli Cohen: "Israel is a world leader in technological innovation in the field of agriculture. The program is meant to maintain Israel's standing in the field and to help break into other areas of activity. It also constitutes an important step in the ecosystem that is shared by the government ministries, high-tech industry and technological agriculture"
With the aim of promoting the young agrotech industry in the agricultural sector as part of Israel's national innovation system, and to encourage Israeli start-ups to invest in innovative developments in the various branches of agriculture, the Ministry of Agriculture, in collaboration with the Innovation Authority, will grant NIS 10 million in assistance to innovative companies in the field. This assistance will enable young companies to drive and advance the initial stages of product development, which in turn will greatly impact the growth of knowledge-intensive industry in the areas of agriculture. The assistance will be awarded to developments and technologies of plant- and animal-based products, used for food or industrial raw materials, as well as products for improving and streamlining the breeding process of plants and animals. The Ministry of Agriculture has decided that this program will specifically support startup companies so as to boost and empower the young innovative firms in the sundry areas of agriculture.
The Ministry of Agriculture believes that continued collaboration with the Innovation Authority in this project, including an increase in budget, for setting up a business-oriented R&D program in agriculture will increase its clout to consolidate the innovation system in areas that fall withinthe Ministry's responsibility.
Pursuant to the financial assistance track, a company that qualifies for the grant, will receive 50% of the R&D expenses of the approved budget. In addition, should theplan be implemented in national priority areas in Israel's periphery, the company will be awarded a further 10%.
One of the program's main threshold conditions is that development of the project be carried out in Israel by Israeli residents. Other criteria to be evaluated include: level of innovation, level of challenge, contribution of the respective technology to the Israeli economy, the company's management ability, the potential business-economic growth, etc. A committee will be set up to review each application, and will comprise, besides Innovation Authority officials, also the Chief Scientist of the Ministry of Agriculture, an innovation representative from the Agriculture Ministry and a public representative.