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The Israel Innovation Authority announced that it was expanding its support to ultra-orthodox technology entrepreneurs in order to facilitate their integration into the thriving hi-tech industry. Israel and facilitate access to finance.
The program of the Ministry of Economy and Industry revised the terms of its 2014 program and all technology companies owned at 33% by ultra-Orthodox entrepreneurs will be eligible for funding for two years. This includes 75% of their R & D expenditures for the first year and 70% for the second year.
The original program only provided financial support for one year.
Subsidies of 2.5 million NIS ($ 682,000) will be available for the start-up companies will become familiar with the Israeli technological landscape, receive entrepreneurial training and learn to "maximize the resources and success of the Company, "says a ministry statement.
"The Israel Innovation Authority's program to support startups in the ultra-orthodox sector is an additional tool in the government's policy to increase the number of people employed in the high-tech industry and create a favorable environment for startups, "said the Minister of Economy and Industry, Eli Cohen, in a statement regarding the revised financing plan.
A similar program to support Israel It is also said that Arab entrepreneurs are in the pipeline of the Authority of Innovation. Naomi Krieger Carmi, head of the division of societal challenges of the Authority, said it would be announced "in the near future".
Only 2.5% of the Arab-Israeli population, or 20% of the population, would be employed in the sector. high technology according to government data In April of this year, in a separate project overseen by the Ministry of Economy, the Arab Affairs Committee of the Knesset allocated a sum of 20 million shekels. million) to invest in Arab cities across Israel as part of a two-year plan to build technology parks and boost employment opportunities.
Since 2012, the government has initiated a number of projects to help the Israelis to integrate in For example, in 2015, a program of 15 billion shekels was launched to boost the Arab sector of the high technology.
"Minority populations in Israel are very underrepresented in the Israeli ecosystem," said Carmi Krieger in a phone. I The lack of high-tech workers and the influx of multinational companies looking for talented workers have led Prime Minister Benjamin Netanyahu to explore ways to boost the sector Israel is proud of. In particular, the industry lacks competent engineers and programmers.
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