The Israeli Ministry of Economy is supporting Israeli companies in approaching international markets by assisting in financing pilots or tenders abroad.
Who can apply to the fund?
The fund is designed for Israeli companies that compete in tenders and pilots in the international arena according to the following indices:
• The value of the project for which proof of feasibility (pilot) is performed is at least 1 million US dollars. This issue does not have to be written in the contract with the client, but the requirement is to show / prove expected revenue of at least one million US dollars, over several years.
• Project value in submitting a bid - at least half a million US dollars.
• There is no minimum threshold requirement for export volume in previous years.
Financial assistance grants up to 50% of the recognized expenses, for proof of feasibility up to a total amount of 500 thousand NIS and for submitting a bid for a tender up to a total amount of 400 thousand NIS.
Expenses recognized as part of the assistance
• Purchase of equipment and materials
• Consulting services in Israel and abroad
• Purchase of tender documents
• Hiring of subcontractors in Israel and abroad
• Expenses related travelling to a designate country.
What should be included in the client's documents
• The essence of the work
• The amount of time required to perform the work
• The milestones involved in performing the work
• The estimated financial scope of the proof of feasibility (pilot)
• The circumstances under which the work will be defined as a success by the client
The grant is to be refunded within 12 months from the date on which the Company received notification of its winning / not winning the project on behalf of the Client. Refund is required only if the company won the project.
During 2014-2015, Support for the sum of 5 million NIS was approved by the fund for 25 companies
The deadline for submission of applications: June 30, 2017. Submitting up to 2 requests per year is allowed.
Spark Consulting Ltd.