The Indiana Economic Development Corporation (IEDC) and the Israel Innovation Authority have issued the first call for proposals as part of the organizations’ collaborative effort to propel innovation through private sector partnerships, inviting Indiana and Israeli businesses to submit joint research projects focused on developing high-tech solutions in agbiosciences and cybersecurity.
Indiana companies interested in this opportunity are invited to submit expressions of interest and high-level project proposals by Thursday, Jan. 31. These can be submitted jointly between an Indiana and an Israeli business, or Indiana companies may also submit an individual proposal and receive company matchmaking assistance from the IEDC and Israel Innovation Authority. Businesses should focus on identifying projects that will stimulate generation and development of new or significantly improved products or processes for commercialization in global markets.
Following the Jan. 31 deadline, finalist companies will be matched, if not already paired, and asked to submit full, bilateral proposals by May 7. The IEDC and Israel Innovation Authority intend to provide conditional match funding for selected projects to support and accelerate the proposed R&D and the commercialization of new solutions.
To be eligible, Indiana companies must meet the following criteria:
- Be an Indiana-based entity with annual revenue less than $100 million and a majority of its payroll dedicated to Hoosier employees;
- Be an advanced-technology or knowledge-based business in agbiosciences or cybersecurity;
- Have a protected intellectual property position, such as trade secrets, patents and/or trademarks, or a distinct competitive advantage making the product difficult to replicate;
- Have a high-impact business model that demonstrates potential for the company to grow its operations in Indiana, creating high-wage jobs and revenues;
- Have money invested by the principals and/or founders, and/or have raised initial capital from other sources;
- Be able to collaborate with an unrelated Israeli company, meaning the Indiana and Israeli companies are separate legal entities and do not have a parent or controlled subsidiary relationship. The companies may have a prior working relationship, but may not apply for funding of a project initiated prior to this request for proposals.
This call for proposals marks a step forward in the Indiana-Israel economic partnership, advancing a memorandum of understanding between the IEDC and Israel Innovation Authority signed by Governor Eric J. Holcomb in Tel Aviv, Israel, during an economic development trip in May 2018. Israel is home to the second-highest level of entrepreneurial activity in the world outside of Silicon Valley with more than 6,500 innovative companies and one startup per every 1,600 people. The country ranks No. 3 in the World Economic Forum’s innovative ranking, providing an established ecosystem and Launchpad for partnerships with Indiana’s growing agbiosciences, life sciences, technology and cybersecurity industries.