Korea-Israel Industrial R&D Foundation

Funds bilateral Korean and Israeli industrial innovation projects through shared research collaboration and commercialization support.

Korea-Israel Industrial R&D Foundation (KORIL-RDF) is a bilateral foundation created in 2001 by Korea’s Ministry of Trade, Industry & Energy and Israel’s Ministry of Economy & Industry. It exists to push joint industrial R&D between Korean and Israeli companies, and its fund is denominated in USD, with both governments contributing an equal annual amount.

The funding model is closer to a recoverable advance than a simple grant. Feasibility projects can receive up to US$100,000, R&D projects up to US$3 million, pilot projects up to US$1 million, and lighthouse projects up to US$5 million, with support rates that can reach 66% of direct R&D costs. Companies on both sides must form the consortium, and all four tracks are built around commercializable civilian technology.

KORIL-RDF is a fit for firms that already have a cross-border partner and want staged support from concept validation through market entry. Feasibility applications can roll year-round, while the larger tracks move through discrete submission windows, and repayment only becomes relevant if the project generates commercial revenue. The foundation’s real value is not just capital; it is the formal structure for two markets to work as one development corridor.