Jerusalem-based tech companies or those that relocate to the city, which their R&D department grew in at least 15 employees over the last 12 months, are entitled to grants for their employees of up to 7,200,000NIS.
Who is eligible?
Tech companies registered in Israel employ up to 500 people in Jerusalem, and are either based in Jerusalem or relocating to Jerusalem.
The company should have at least 30MNIS revenue turnover during the last 12 months or it raised at least 100MNIS in venture capital since it has been established.
About the benefit
In accordance with the grant’s terms, for every ‘eligible employee’ the company may apply for an initial grant of 120,000NIS if the employee lives in Jerusalem, or 60,000NIS if the employee lives outside of Jerusalem.
After the initial application that should include at least 15 ‘eligible employees’, the company can apply for up to 45 additional ‘eligible employees’ (60 employees in total) while at this part, the company can get 46,000₪ for an employee who lives in Jerusalem and 35,000NIS if the employee lives outside of Jerusalem.
The grant is available for up to a maximum of 60 employees, with a maximum total grant of up to 7,200,000NIS.
There is not a specific date by which to apply, as applications for the grant may be made on a rolling basis at any time during the year.
The grant is awarded over an eighteen-month period. Grantees will be paid 60% upon receiving authorization, and the remaining 40% eighteen months after the approval of the initial application.
The grant is not paid as a loan and does not cause dilution in any way.
How to apply
Please read carefully the comprehensive grant guidelines (Hebrew)
Contact Liron Dover at firstname.lastname@example.org if you have questions or when you are ready