Israel To Invest $20M In ‘Crazy R&D’
July 16, 2017 | A program launched by the Israeli Innovation Authority will invest$20 million in high-risk research and development projects conducted by Israeli companies that have an annual turnover of over $100 million. The initiative will offer grants of up to 50 percent of the costs of R&D projects that have a high chance of failure, termed ‘crazy R&D’ by IIA growth division acting director Sagi Dagan. In doing so, the IIA hopes to facilitate the development of technologies for the future that will give the companies a competitive edge. Companies that are eligible for the R&D grants include Check Point Technologies ltd., Mobileye, and Wix.com.