The Ontario-Israel Research Network Program – MAGNET (OIRNP-MAGNET) will support bilateral collaboration to develop and demonstrate technological solutions. The program is facilitated through the framework of the Ontario-Israel Innovation MOU, as a partnership between Ontario Centres of Excellence (OCE) and the Israel Innovation Authority (IIA).
In its first year, projects will focus on Cybersecurity-Fintech companies, and potentially Ontario academic institutions, creating industrial or collaborative R&D technologies that address the cybersecurity needs of multinational Ontario-based financial institutions.
Managed by OCE and IIA through a partnership with Ontario’s Ministry of Research, Innovation and Science (MRIS), the program supports industry-led bilateral collaboration, including consortia comprised of small-to-medium enterprises (SMEs) and potentially, academic institutions to jointly develop industrial or collaborative R&D technologies responding to industry needs that will strengthen both Ontario and Israel’s technological expertise and enhance competitiveness. Each application must include at least one SME from Ontario, one SME from Israel, and for the current call, one partnering Financial Institution (FI) from Ontario. Ontario applicants are encouraged to collaborate with academic researchers.
Both jurisdictions have committed CAD 5M each over 5 years to support this initiative for a total of CAD 10M that will be matched by the participating SMEs. Ontario funds will be disbursed to successful Ontario SMEs by OCE. Successful SMEs from Israel will be funded separately by IIA. More details on the OIRNP-MAGNET program