In a move aimed at enhancing Israel’s global position as a hi-tech hub, the Israeli Innovation Authority (IIA), in collaboration with the Finance Ministry, has approved a comprehensive stimulus package designed to uplift the nation’s hi-tech ecosystem. The plans have been carefully crafted in response to both global and local factors that characterized 2023, such as the persistent decline in the number of new start-ups, the concentration of investments in specific areas, and a rise in the registration rate of Israeli companies abroad.
A new way to invest
An innovative fund with an advanced investment model is also set to be established, featuring a tender process allowing international companies to participate. This fund will not only provide financial backing but also establish innovation incubator hubs, fostering global collaboration in deep-tech technological vectors.
These initiatives are an extension of recent programs, including the Fast Track investment program, angel investor clubs, regional technological innovation hubs, and increased grants for the Ideation program (Tnufa Fund).
The initiative meshes with other aspects of hi-tech
All these efforts complement national programs for artificial intelligence, bio-convergence, and quantum computing, ensuring Israel’s readiness for the next technological trends. The comprehensive stimulus package is poised to invigorate Israel’s hi-tech landscape, with the hope of advancing innovation, diversity, and sustainability in the sector.
