Businesses can now apply for grants under the programme which is jointly run by the NSW Government and Israel and was established to support innovation and strengthen ties between NSW and Israel.
NSW Minister for Trade & Industry Niall Blair opened applications for the programme on Monday and said that businesses must apply before 7 June.
“The NSW Government is offering matched financial grants of up to $250,000 for project costs for participating businesses,” he said.
“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.”
Sydney-based company Blue River Group is already working with NSW and Israel to develop and commercialise new agriculture and food technologies.
Chief executive Craig Shapiro welcomed the NSW-Israel R&D Tech Innovation Program which he said had great potential to nurture R&D connections.
“Israel is a leader in innovation across several sectors, including agricultural areas like irrigation, plant genetics, horticulture, dairy productivity.”
The NSW-Israel R&D Tech Innovation Program encourages applications from all sectors, but will prioritise projects focusing on cyber security, water management or agri-technology.
And in support of the program, the Department of Industry will contribute an extra 10% funding towards R&D projects that focus on priority sectors, for projects based in regional and rural areas outside Sydney, Newcastle and Wollongong, or for start-ups or high growth companies.