Israel, Victoria biotech fund kicks off

The winning projects - which focus on medical equipment, pharmaceuticals and information technologies - receive grants of up to half of the total investment in the project, but not more than $500,000

Vistech - a fund supporting biotech projects led jointly by companies in Israel and the Australian state of Victoria - has awarded grants to four of six projects that answered its initial February call for submissions, the Industry, Trade and Labor Ministry said Monday. The winning projects - which focus on medical equipment, pharmaceuticals and information technologies - receive grants of up to half of the total investment in the project, but not more than $500,000. A second group of candidate projects are currently being submitted, the ministry said, adding that the fund helps Israeli companies find partners in Victoria.