KORIL-RDF(Korea·Israel Industrial R&D Foundation)

📜 About KORIL-RDF KORIL-RDF(Korea-Israel Industrial R&D Foundation) stems from a bilateral cooperation agreement in private sector industrial research and development between Korea and Israel, signed on November 25, 1998. KORIL-RDF is the result of collaboration between the Ministry of Trade, Industry & Energy (MOTIE) of Korea and the Israel Innovation Authority (IIA). Since its establishment in May 2001, KORIL-RDF has been overseeing a joint R&D fund comprising contributions from the Korean and Israeli governments. 🔗 Purpose of KORIL-RDF KORIL-RDF's main goal is to support industrial R&D projects that could potentially lead to commercialization and contribute to the economic progress of both countries. Additionally, it aims to promote and encourage joint industrial R&D collaborations between companies in Korea and Israel. KORIL-RDF provides essential financial support through grants to eligible industrial R&D projects, covering up to 50% of the qualifying R&D expenses, with a maximum funding cap of USD 5 million.