The New Jersey Economic Development Authority (NJEDA) has issued a Request for Expressions of Interest (RFEI) for New Jersey-based companies interested in participating in the New Jersey-Israel Innovation Partnership Initiative. New Jersey companies that participate in the initiative will gain both access to international partners and to research and development (R&D) funds from an Israeli company and the Israel Innovation Authority (IIA).
To qualify for the program, New Jersey companies must:
Have an R&D or manufacturing presence in New Jersey,
Have a projected financial commitment of at least $250,000 per proposed R&D project in one of the priority sectors identified in Governor Murphy’s economic plan,
Provide a current Tax Clearance Certificate,
Not be in default on any NJEDA financial assistance or have outstanding labor or environmental investigations, and
Be reviewed under the NJEDA’s debarment rules.
NJEDA staff will review responses to the RFEI issued to identify qualified New Jersey companies to participate in the initiative. The IIA will then issue a Call for Proposals aimed at selecting Israeli companies interested in partnering with those qualified New Jersey businesses that IIA determines best match the Israeli R&D ecosystem. Selected Israeli companies will implement joint R&D projects with their New Jersey partners, with the IIA providing grants up to 50 percent of the Israeli company’s share of R&D expenses.
David Postolski, Partner and International IP expert at Gearhart Law, splits his time between Israel and New Jersey and is very active in the innovation communities in both places. If you have questions about entrepreneurship in Israel, you can reach him at David@GearhartLaw.com
“Collaborations that cross borders to bring together the best minds are critical to building a vibrant innovation ecosystem in New Jersey,” said Wes Mathews, Vice President and Director, Office of International Trade and Investment at the NJEDA. “The New Jersey-Israel Innovation Partnership Initiative will drive economic growth and increase New Jersey’s reputation as a global leader in the innovation economy.”
“Israel is known globally as a leader in innovation and we are excited to facilitate research and development partnerships between Israeli companies and New Jersey-based businesses,” said Israel Innovation Authority Chairman and Chief Scientist at the Ministry of Economy and Industry, Dr. Amiram Appelbaum. “Forging strong ties between two centers of innovation will benefit businesses and consumers in both New Jersey and Israel.”
This content pasted from a BioNJ communication. For more information about BioNJ, visit www.BioNJ.org.