KORIL Foundation
The Korea-Israel Industrial R&D Foundation (KORIL-RDF) is a joint venture between the governments of the Republic of Korea and the State of Israel, aimed at promoting technological collaboration and innovation between commercial companies in both countries.
Incorporated in 2001, KORIL-RDF operates under the Ministry of Trade, Industry & Energy in Korea and the Ministry of Economy & Industry in Israel.
KORIL-RDF provides grants of up to 50% of the direct R&D expenses of a joint project, with a cap of US$2 million, for projects with a civilian application and market orientation in all technology sectors.
To qualify, private companies in either Korea or Israel must apply in partnership with a company interested in joint R&D and commercialization of innovative technologies.
The grants are subject to re-payment when commercial revenues are generated from the developed products.
Types of Funding Opportunities
- KORIL Feasibility project
- Up to US$100K
- Fund rate - 50% of total budget
- Submission date - all year
- Project Duration - up to 6 months
- Sector - all technological sectors
- TRL - 3-4 (pre-R&D)
- KORIL R&D project
- Total budget - unlimited
- Fund rate - 30%-50% of total budget - Max. US$3M
- Submission date - twice a year
- Project duration - up to 24 months
- Sector - all technological sectors
- TRL - 4-6
- KORIL Pilot project
- Total budget - unlimited
- Fund rate - 30%-50% of total budget - Max. US$1M
- Submission date - twice a year
- Project duration - up to 12 months
- Sector - all technological sectors
- TRL - 6-8
- KORIL Lighthouse project
- Total budget - unlimited
- Fund rate - 30%-66% of total budget - Max. US$5M
- Submission date - once a year
- Project duration - up to 36 months
- Sector- selected by the BOD
- TRL - 3/4- 7/8