UK-Israel tech teams offered £25k grants through bilateral innovation deal

Joint UK-Israeli business teams developing new technology are being invited to bid for £250,000 grants after ministers from both countries agreed to help pay for cooperative business efforts.

Entrepreneurs who want to team up in a bilateral business development have until March next year to access the funding, with the UK stumping up £1 million and Israel putting in 1 million Euros.

It flows from an agreement signed by British Science and Innovation Minister Sam Gyimah and Israel Innovation Authority chief executive Aharon Aharon earlier this year, and requires that both British and Israeli partners be involved.

The money is available to projects seeking technological innovation in products, processes or services which have the potential to come to market.

It is being led by Innovate UK, which is part of UK Research and Innovation, a national funding agency investing in science and research, paying up to £250,000 to winning projects.

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