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update deskIsrael News

Israel investing millions in high-tech initiative for remote areas

Israeli high-tech industry. Credit: xtock/Shutterstock.
Israeli high-tech industry. Credit: xtock/Shutterstock.

Several Israeli ministries have joined together for an initiative which will see 75 million shekels ($21 million) allocated to five innovation centers in the country’s periphery.

The initiative aims to encourage entrepreneurship in various fields, and boost employment in the high-tech sector.

As part of the program, up to five franchisees will be selected, consisting of Israeli companies, corporations and non-profit organizations. Each will receive a grant of up to 15 million shekels ($4.2 million) for five years.

The centers are intended to focus on promoting innovative technologies in agriculture, food, energy and combating climate change, among other areas of interest.

The innovation centers will include programs to encourage entrepreneurship and promote local innovation, as well as various training programs. In addition, the centers will be designed to nurture an ecosystem for the establishment of innovative ventures, forging bridges with local stakeholders such as academia and research institutions, local government bodies, existing industries and investors.

The proposals will be evaluated according to submitted business plans, with an emphasis on providing a framework to promote all stages of entrepreneurship.

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