The government will grant Israeli companies an initial amount of 50 million shekels ($13 million) for research and development of products and technologies to help fight COVID-19, the illness associated with the novel coronavirus that caused a global pandemic.
The Israel Innovation Authority, Economy Ministry, and the Manufacturers Association of Israel also called on factories to submit R&D plans to help develop or expedite production of technologies to combat the virus, the ministry said on Tuesday.
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"Every company with a solution, whether it is in the proof-of-concept stage or a mature product that can be immediately installed at our health services, are invited to contact the Israel Innovation Authority as soon as today," Economy Ministry Eli Cohen said.
Requests will be fast-tracked, the ministry said.
Financial support for up to 75% of the approved projects' expenditures will be provided.
