Renewable Energy Technology Center
The Renewable Energy Technology Center supports technological ventures and R&D projects starting from the stages of applied academic research and early stage entrepreneurship. The center enables testing and trials for products undergoing development and demonstration.
The Center is operated by a licensee from the private sector, composed of strategic investors and an academic institute. The Center's activities are carried out in the Eilot region, allowing it to take advantage of the unique geographical and climatic conditions of the region, as well as the available government support.
Goal of the Incentive program:
To assist companies and entrepreneurs that are developing, or interested in developing, a product integrating an innovative technology that has economic potential in the fields of renewable energy and energy efficiency. In addition, the incentive program is designed for teams that can carry out the proposed R&D by themselves, on the technological and the managerial levels. This support is conditional upon the fact that the project could contribute to the development of the Eilot region.
Who is the incentive program for?
- Companies and entrepreneurs who wish to carry out projects that require technological R&D in the renewable energy and energy efficiency fields.
- The Renewable Energy Technology Center supports projects in relevant technological fields, such as solar energy, wind energy, geothermal energy, alternative fuels, energy efficiency, smart grid, energy storage, and more.
- The incentive program is available for early stage companies and entrepreneurs interested in developing technological projects in the renewable energy fields, as well as for researchers wishing to carry out applied research in these areas, and companies that want to conduct experiments in the testing areas operated by the Center.
- The assistance is carried out via three sub-programs:
- Primary sub-program: Funding and support of applied R&D activities, via cooperation between academia and industry.
- Advanced sub-program: Funding and support of technological projects of beginning companies in the pre-seed and seed stages.
- Testing areas sub-program: Funding and support of demonstrations and experiments in the fields of renewable energy, through facilitating of testing areas and required infrastructures.
What do you get?
The participants of all the sub-programs receive professional and technical support from the Center’s staff for the completion of the project. The financial support depends on the sub-program in which the operation is carried out:
- Primary sub-program: Financial support of 66% of the approved R&D expenditures for an activity period of up to two years. In exceptional cases a one-year extension of the activity period will be approved without changes in the scope of the financial support. The participants in this incentive program are exempt from paying royalties to the Authority.
- Advanced sub-program:
- Financial support of 60% or 85% of the approved R&D expenditures by the Authority, and supplementary financing up to 100% of the approved R&D expenditures by the Center’s licensee for activity period of up to two years.
- Financial support of 60% of R&D expenditures for existing young companies at the beginning of their activities, even if they have been supported in the past by other incentive programs of the Authority or as part of any other program.
- Financial support of 85% of R&D expenditures is available only for projects that did not previously receive government support as part of one of the Authority’s incentive programs, except for the Primary sub-program of the Renewable Energy Technology Center.
- The approved budget for a project is up to NIS 2,500,000. In exceptional cases, a one-year extension of the activity period will be approved without changes in the scope of the financial support.
- The entrepreneur or company that enjoys the benefits as part of this incentive program will repay the received funding to the Authority by the payment of royalties from sales, but only if the project succeeded in reaching the commercialization stage, and the company has revenues.
- Testing areas sub-program: Financial support of 50% of the approved R&D expenditures for activity period of up to two years, without having to pay royalties.
Why should you apply for this incentive program?
Substantial financial support for projects in the fields of renewable energy: A total budget of NIS 98 million is reserved for the support of projects carried out as part of the Technology Center during the seven years of the license period, and for continued investment of the licensee in the projects even after the completion of the activity period in the Center.
Assistance from a specialist in the fields of renewable energy: The activity is supported by a licensee possessing the necessary expertise, experience and connections with strategic partners and investment sources in the fields of renewable energy.
Quality mark support: Support from the Authority and the Technology Center is provided following a comprehensive professional assessment of the project, which serves as a mark of quality for companies in the industry, making it easier for them to mobilize private capital down the road.
How to apply?
- Prior to application and selecting the incentive program, please see the list of conditions, as detailed on the Authority’s website.
- To apply for one of the incentive programs, the entrepreneur, company or research institution should contact the Center’s licensee – Capital Nature Ltd.
- Once the project is approved by the Center’s licensee, it will be examined by a professional testing team of the Authority and transferred for the approval of the incentive program committee.
For additional information please contact:
Renewable Energy Technology Center
Details on the Israel Innovation Authority website: Renewable Energy Technology Center