Export-oriented R&D funds are open to local companies wishing to engage in technological research and development, and they support products or services that are ahead of world markets or can prove commercial potential by first improving on offerings in the local markets.
Azione works closely with public agencies on such general frameworks where fund administrators approve requests for support. We also partner decision-making bodies, which may also make funding decisions for technology incubators and sectoral programmes.
Funding support should last one or more years and result in the development of a new product or in a significant improvement to an existing product. The development may also lead to a new industrial process or to a significant improvement in an existing industrial process. There is no limitation to the scientific field of the R&D and proposals should be accepted in the entire technological spectrum.
The role of the fund itself is in governance of the grant approval service, starting from the screening process, ensuring adherence to reporting requirements for those firms whose requests are approved, and post-grant auditing to ensure repayment of success-based royalties to those firms whose projects succeed and whose grants terms require payment of royalties.
Azione also supports the establishment of bi-national funds and international activities. This typically involves the development of:
- Promotion and marketing of the benefits of joint market-oriented R&D collaboration
- Matching of companies for partnerships
- Facilitation for the identification of specific projects or collaborations
Such cooperation will support access to know-how and technologies that are not otherwise readily available to the participants as well as access to new markets and the needs of the captive market of each industry. Potential strategic partners can be identified, resulting in heightened awareness of market opportunities in partnering countries and enhanced identification of potential trade strategies.