Small Research Grants Program in EA Israel - Request for feedback

We are considering to start a new local funding mechanism for Israeli researchers. Broadly, we think of allocating small $1K-$5K grants for researchers on the start of their path (independent, master or PhD) and connect them with mentors.

We have yet to secure funding, and I have not reached out to many organisations or researchers for mentorship or review of our work. I'd love to get some more initial feedback on the design of the project.