As we have noted in our update from April 20, like many Israeli
government offices, the Israel Innovation Authority (the
"IIA") has been responding to the unique situation
presented by the world-wide COVID-19 pandemic. The IIA has now
published a quick track for grant approval under the existing
R&D Track (the "Fast Track") in order to help
innovative companies with a short runway. The Fast Track is a
temporary solution for the current economic crisis and will be open
for applications only until September 15, 2020.
Under the Fast Track, the IIA will assist innovative technology
companies in the early stages of growth or in their R&D phase.
The applicant must demonstrate that it has a good chance of
surviving the economic crisis, while currently experiencing
liquidity problems (i.e. a short runway), which problems it assumes
will not last for more than 12 months from the date of
application
