33 companies have submitted 219 R&D grant applications for a total of NIS 2 billion, in the first applications round for 2004, Chief Scientist Dr. Eli Opper said today.
Large companies, those whose R&D grant applications exceed NIS 30 million a year, submit applications to the Office of the Chief Scientist once a year, on November 15.
25 large companies submitted 184 applications worth NIS 1.7 billion in 2003. A comparison of first round applications indicates a 32% increase in the number of companies submitting applications larger than NIS 30 million, compared with 2003 as a whole; a 20% increase in the number of applications for research projects; and an 18% increase in the amount requested.
Opper said, "The figures prove that the credit crunch is forcing companies to apply for grants in order to carry out their R&D programs. If a large proportion of the programs are implemented, it will immediately expand employment, commercial activity, and exports, driving the economy's wheels."
Minister of Industry Trade and Labor Ehud Olmert said this was the time to encourage industry to carry out R&D programs. Data indicate a revival in. US and Far Eastern markets. "Unless we invest large resources in R&D now, we won't share in the wave of global of economic growth, and there's a real risk we'll miss it."
Olmert added that another concern was the possible loss of highly skilled people, who might emigrate to the US or Europe to seek work in expanding economies.
The Ministry of Industry, Trade and Industry stated that the budget bill the Ministry of Finance had submitted to the Knesset included a 52% cut to the Chief Scientist budget, compared with the budget in 2000.
Published by Globes [online] - www.globes.co.il - on December 23, 2003