Rep office reports

Hybrid Seed Incentive Program(Economic Division in Tel Aviv)
Kind: Rep office reports  Organization: Department of International Cooperation  Publish Date: 2021-01-13 17:52
【On the track】
In recent years there has been a massive decline in investments in the SEED stages. To assist in the establishment of new technology companies, the Innovation Authority has embarked on a path that encourages venture capitalists to make Seed investments in startups that are at high risk and at an early stage.

【The purpose of the route】
Encourage seed capital investments in companies with high risk, by an experienced venture capital investor.

【Who is the route for?】
The track is intended for start-up companies in the SEED phase that are developing technologies in areas where there is difficult regulation, a long time frame for implementation, or a part of a market that is emerging. The support will be given to companies that have not raised more than NIS 3 and a half (by the date of submission to the track) and have already signed a memorandum of understanding with an experienced venture capitalist in high-risk investments, who is interested in investing in a first SEED investment.

【What do you get?】
The companies:
They will receive a grant of up to 40% of the investment round (the amount of the authority grant will be up to 3.5 million).

In addition, entrepreneurs from under-represented populations in high-tech or companies located in the periphery will be able to receive an additional grant at the rate of 10% of the total capital investment in cash (the amount of the PA grant will be up to 3.5 million).

The investor:
A venture capital fund or CVC will receive from the company an option to exercise the grant approved by the Authority, for up to 3 years.

【Why is it worth it?】
Attractive financing - a grant of 40% of the investment round, up to NIS 3.5 million
High-risk investment assistance and early stage.

Possibility to close a round of raising when the investor will be able to receive an option from the company for 3 years.

Abbreviated application process - short inspection (up to 4 weeks), immediate receipt of the grant.

Quality mark of the Innovation Authority.

【Track conditions】
The start-up company did not raise more than NIS 3.5 million before the submission
Term sheet signed between the company and the investor before submission.

After the application is approved by the Innovation Authority, the company will issue the investor an option to exercise for up to 3 years.

Upon exercise of the option, the investor will receive shares in the company as agreed in advance and the grant amount will be returned to the Innovation Authority with an annual interest rate of 5%.

The investor is a venture capital fund or the leading partner experienced in seed capital investments (seed) and with added value to the company.

【Criteria for evaluating an application】
Innovation and uniqueness presented in the program that the company submits.

The company that is at high risk: difficult regulation, a long time frame for implementation, or part of a market that is emerging.

A technological field in which there is a shortage of Seed investors.

The business-economic growth potential of the company due to the investment.

The company has an experienced venture capital investor who is interested in investing in it, who is able to assist it in building and designing the business model, adapting the product to the market, penetrating the markets, building an array of customers, etc.

【How do you apply?】
First, read the guidelines that appear in the benefit track and track procedures.

Second, the application for this route is made online through the personal area on the site:

You must register / enter the personal area.
Fill out the online form and submit a request for support - it can be found in the personal area menu.

The forms and documents listed below must be attached to the submission (in the "Adding Attachments" section that appears at the bottom of the application form for support).

Responses are expected to be received up to 4 weeks from the submission of the application subject to the details of the calling voice to be published.

* The Innovation Authority only accepts complete and valid applications, which are submitted together with all the forms and application documents, including the financial documents required to examine eligibility for the track and appear below.

* A company that wishes to receive a certificate whose application has been correctly received - is requested to bring the submission date as early as possible.

* Technical support will be provided on Sundays-Thursdays until 17:00.

* Want to know what happens after submitting an online application? Feel free to watch here all the stages of handling please.

For general questions, questions about how to submit the application in the personal area, you can contact the customer service by email: contactus@innovationisrael.org.il or by phone 03-7157900 Sundays-Thursdays from 9: 00-17: 00

For questions about the suitability of the company and / or the venture for this route, you can contact the start-up arena by email: startup@innovationisrael.org.il


Update: 2020-04-08
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