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Vistech, the US$6 million R&D fund, financially support joint commercially focused R&D projects between Israeli and Victorian companies, mainly in the fields of Life Sciences, nanotechnology and environmental technology.   The fund was established recently by the Government of Victoria (Australia) and the government of Israel through the Office of the Chief Scientist in the Ministry of Industry Trade and Labor.   Matimop - the Israeli Industry Center for R&D is in charge of the implementation of the agreement, assisting in locating potential partners and in the submission of applications for financial support.   Application Forms (please click here)    The deadline was extended - Closing on 15:00 September 15 2008   Grants are given up to a maximum of 50% of the approved R&D expenditures and limited to $US500, 000 per approved project.   Grants are to be repaid based on sale revenues (generally 3.5 % of the gross sales) in accordance with the laws and regulations in the two respective states. Vistech acquires neither equity nor any rights to intellectual property and in case of failure no repayments are to be claimed.   Qualification Criteria: §    At least two science and technology companies from the respective countries should express a desire to cooperate in the research and development of a new product or a new process. The project may involve more than one company from each side; academic entities are eligible to join as sub-contractors. The product should be highly innovative with significant commercial potential. The partners should agree in advance on the IP rights and on the commercialization strategy of the product.   The following websites may assist in the provision of information on Victorian businesses active in these areas:   Life Sciences:       http://www.ausbiotech.org/directory/ General:           www.aigroup.asn.au; www.aicc.org.au   If you would like Vistech to help you find a suitable partner please fill the file (click here) and e-mail it to Hadas Bar-Or (contact details below)   If you already have a partner and would like to get our initial assessment of the joint project please fill this file (click here) and e-mail it to Hadas Bar-Or (contact details below)     Your contacts:   Israeli Office: Victorian Office: Hadas Bar-Or Roland Diggens Manager- VISTECH  Manager- VISTECH  Matimop - the Israeli Industry Center for R&D Department of Innovation, Industry & Regional Development Email: vistech.manager@matimop.org.il  Email: vistech.manager@iird.vic.gov.au