Goal of the incentive program:
To transform innovative biotechnological ideas into startup companies and to lead them to fund raising from
the private market.
Who is the incentive program for?
- Private entrepreneurs who are interested in founding startup companies within the framework of the incubators, on the basis of a biotechnological idea.
- New Israeli startup companies owned by private entrepreneurs who are interested in developing a commercial product on the basis of a biotechnological idea.
- Researchers and institutions that are interested in establishing startup companies with the incubators on the basis of a biotechnological idea and groundbreaking studies.
- Entities that are interested in establishing biotechnological incubators in Israel, in accordance with a relevant call for proposals.
- New startup companies (in accordance with the guidelines) in all sectors of industry.
What do you get?
- A grant of up to NIS 8.1 million for an operative period of up to 3 years.
- Full financial support of 100% of the company's approved budget (85% from the Innovation Authority and 15% from the incubator). No financial investment is required by the entrepreneur.
- Work environment: infrastructures for conducting R&D, technological and business assistance.
- Low risk: The Innovation Authority finances 85% of a company’s approved project budget. Therefore, the Authority assumes most of the risk.
- Attractive investment: The incubator invests 15% of the approved budget in exchange for up to 50% of the company’s shares.
- Certainty: A franchise period of 8 years.
- Peripheral incubators: The Innovation Authority participates in the operating costs of an incubator located in Israel’s periphery.
Why should you apply for this incentive program?
Necessary infrastructure: the incubator provides the companies with all the infrastructure necessary for developing the product – offices, a work environment, a central lab, scientific, technological and business guidance and mentoring, administrative services, and legal, regulatory and marketing counseling as needed.
Experienced partner: the incubator is a partner with vast experience and expertise in leading young startups in the early stages. It also facilitates follow-on investments in companies that have graduated from the
incubator and assists them in acquiring additional funding and in preparation for products’ marketing including locating and connecting the company with investors, partners, and potential customers.
Collaborations: the incubator enables synergy and collaboration with other similar companies operating as
part of the incubator.