Increase in the Horizon 2020 Budget

In 2014, the EU’s Horizon 2020 Program commenced and will continue until 2020. The program’s scope is expected to stand NIS 77 billion for the duration of the 7 year program . Israel’s share in the European R&D programs was determined according to the ratio of the Israeli GDP to the total European GDP (including Israel) and is financed in the following manner: PBC – 50%; Ministry of the Economy – 35%; Ministry of Science – 10%; other relevant ministries – 5%.

In the past few years, there has been an increase in the Israeli GDP in relation to the total European GDP. Additionally, the scope of the European program has been expanded. As a result, the State has been required to significantly increase its participation in the program which translates into an increase in the participation of the financing entities. Accordingly, the PBC’s share of the financing of the program increased from approximately NIS 330 million in 2015/16 (actual) to approximately NIS 520 million in 2018/19 (budgeted).