Israel covers expenses for businesses working on corona-virus products
In Israel, the Israel Innovation Authority (IIA) the Israeli Ministry of Economy and Industry, and the Manufacturers Association of Israel are calling on industrial facilities and companies to submit R&D plans for the increased production of coronavirus-related products. As part of the initiative, the government will offer financial support of 50% to 75% of expenses to plans that will demonstrate the potential to bolster the country’s healthcare system or provide breakthroughs in the fight against coronavirus.
Specific issues addressed and anticipated impact
Governments need to support private sector initiatives, but do not necessarily have the resources to scale up every single idea. This initiative will instead help facilitate private sector initiatives by specifically covering expenses for the work of businesses that they can specifically demonstrate is useful for the public health sector.
Israel Innovation Authority; Israeli Ministry of Economy and Industry, and the Manufacturers Association of Israel