The NSW-Israel Research and Development and Technological Innovation Program provided matched funding of up to $250,000 for enterprises to work with Israeli partners, giving access to new markets and a wider network of expertise and venture capital.
Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said the three year program was part of the Government’s commitment to boosting innovation, exports and jobs throughout NSW.
“Funding delivered through this program has taken innovative NSW ideas and products to a global marketplace,” Mr Ayres said.
“Helping our NSW enterprises build links with R&D partners in key locations like Israel is part of the Government’s Global NSW strategy, contributing to economic growth, skills development and job creation for the people of this state.”
“We’re actively supporting high-growth sectors like biotech and cyber security because of their capacity to generate downstream activity throughout the economy, setting NSW up for the future,” Mr Ayres said.
“As well as helping deliver sustainable, high-value jobs for NSW, this funding has helped advance some important and potentially lifesaving innovation for people everywhere.”
The program supported three NSW enterprises conducting joint research and development activity in Israel:
- Biotech firm Anthrocell
- The Australian Foundation for Diabetes Research
- Personal data cyber security startup, Meeco
Israel’s Government provided similar funding to local partners and each participant was required to match funding with its own investment.