The Israel Innovation Authority (IIA), the branch of the government dedicated to promoting the country’s high-tech sector, has launched a new fund to create three new incubators for Deep Tech (innovation in science or engineering) startups.
The initiative, part of a scheme launched to support the industry during the war in Gaza, aims to strengthen Israel’s position as a global leader in Deep Tech.
The fund offers a grant of up to 40 million shekels over a five-year period for the three new incubators, which will focus on health, climate, bioconvergence, agritech and foodtech.
The incubators will work as investment hubs, integrating Israeli and international investors to offer financial backing and support to startups in early stages of funding.
In addition, startups will be eligible for non-dilutive investments (financial support without receiving shares in return) from the IIA to help further growth.
“The new technological incubator program we’re launching today is part of a series of recent initiatives aimed at propelling Israel’s innovation ecosystem forward. Specifically, it complements the efforts of the Start-up Fund and the newly established Venture Fund,” said IIA chief Dror Bin, referring to the new program set up last month to support startups developing dual use technologies.
“Over the years, technological incubators have demonstrated a key strength: their ability to nurture deeply innovative companies in Israel, often starting from the conceptual or academic research stage, with the country’s participation bearing financial risk. Moving forward, we’re looking for additional value from the newly selected incubators through a competitive process,” he said.
