This report presents findings from the evaluation of the program SIBED – Sweden Israel Test Bed Program for ICT-Applications. SIBED is a bilateral program that has given Swedish and Israeli companies the possibility to apply for funding of their joint ICT-developments. It is a collaborative project between the states of Sweden and Israel, and is led by the Swedish governmental agency for innovation system, Vinnova, and the Israel counterpart OCS/MATIMOP. SIBED was developed after a memorandum of understanding (MOU) between Sweden and Israel on co-operation in the field of industrial research and development. The overall objectives with SIBED has been to foster innovative and commercial IT-applications in collaboration between the ICT-industries in Israeli and Swedish companies.