Israel's Bold Move: Investing in High-Tech Future through Incubators

The Israel Innovation Authority (IIA) is spearheading an ambitious initiative to foster high-tech innovation by launching a competitive program to create new incubators. Each incubator is set to receive up to a 40 million Shekel investment, approximately USD 11.9 million, to support groundbreaking projects in Israel.

The program aims to nurture innovation in deep-tech sectors like semiconductors, bio-convergence, agri-food tech, robotics, and defense tech – fields characterized by significant technological challenges and limited investment opportunities in Israel. The incubators will also benefit from non-dilutive investments, enhancing their capacity to support emerging startups.

The Startup Fund will provide roughly 100 million Shekels, about USD 29 million, throughout the franchise period. Moreover, startups engaged in the program can receive grants of up to 21 million Shekels, covering stages from pre-seed to Round A financing, to boost Israel's edge in the global tech ecosystem.

(With inputs from agencies.)