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$250k grant to boost major tech innovation

$250k grant to boost major tech innovation

The NSW government has unveiled a new grant worth up to $250,000 in a bid to stimulate technological innovation among local businesses in conjunction with Israeli operators.

In conjunction with Israel, the grants have been made available as part of the NSW-Israel Research and Development (R&D) Tech Innovation Program.

“The NSW government is offering matched financial grants of up to $250,000 for project costs for participating businesses,” said the state’s Minister for Trade and Industry, Niall Blair.

“Encouraging technology collaborations through government programs such as this is a wise investment in a better future.

“We are committed to supporting innovation to create the businesses and jobs of tomorrow. In partnering with Israel, an innovation leader, we are putting our best technology companies on the world stage.”

Applications for round two funding are now open, and will close on 7 June 2018.

According to the program’s website, a contribution of up to 50 per cent of the total NSW project costs are available, up to $250,000.

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However, an additional 10 per cent of the project costs will be given to high-priority areas, which include rural and regional-based projects, start-up and high-growth businesses, and projects involved in the key sectors of agritechnology, water management and cyber security.

To be eligible, the project must involve collaboration between at least one NSW business and one Israeli business, which are separate legal entities.

$250k grant to boost major tech innovation
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