The NSW government has on Monday opened applications for funding as part of the New South Wales-Israel Research and Development program.
Under the program, the state government will be distributing grants of up to AU$250,000 to NSW-based businesses looking to partner with entities in Israel on R&D projects.
Applications for the program are open from Monday until June 7.
"We are committed to supporting innovation to create the businesses and jobs of tomorrow," according to Minister for Trade and Industry Niall Blair. "In partnering with Israel, an innovation leader, we are putting our best technology companies on the world stage."
The NSW government said the program will prioritise projects focusing on cybersecurity, water management, or agri-technology. Sydney-based Blue River Group is among those working between NSW and Israel to commercialise new agriculture and food technologies, it added.
The Department of Industry will contribute an extra 10 percent funding for startups or high-growth companies; R&D projects that focus on priority sectors; or for projects based in regional and rural areas outside Sydney, Newcastle, or Wollongong.
The NSW-Israel R&D Tech Innovation Program, which was announced in September last year, is aimed at boosting collaboration and strengthening ties between businesses in NSW and Israel.
Under the program, the NSW Department of Industry will contribute up to 50 percent of total project costs up to a maximum of AU$250,000, with the remaining costs covered by the NSW applicant or a third party. The two companies must be separate legal entities, with no other ties outside of the program.
The Australian government signed a similar agreement over a year ago to allow Australian companies to take advantage of opportunities in Israel's biotechnology, IT, and R&D sectors.
It also chose Tel Aviv to host one of its five startup landing pads, aimed at assisting entrepreneurs to commercialise their products and services. The other four are based in Silicon Valley, Shangahi, Berlin, and Singapore.
The AU$11 million landing pad initiative is part of the AU$36 million Global Innovation Strategy to improve Australia's international innovation and science collaboration.
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