The Government Solution for Covid Unemployment:

NIS 145 Million Investment in High-Tech Training

Throughout the past year, the Israeli economy faced a widescale economic and employment crisis, raising the question – how can the high-tech industry assist in recovery from the employment crisis? During the Covid crisis, the Innovation Authority launched two designated programs for training quality high-tech personnel, with a total two-year budget of NIS 145 million.

The first is the High-Tech Human Capital Fund. This program aims to incentivize the creation of innovative solutions originating from the field and the expansion of the entry routes into high-tech, in order to upgrade or enhance the existing hightech human capital in R&D jobs. This incentive will be carried out via financial support for programs to develop human capital for technology positions in high-tech. As part of the first call for proposals, 18 different programs were chosen for advancing populations under-represented in the high-tech industry – women, Arabs, ultra-Orthodox, and residents of Israel’s periphery – alongside programs for integrating new immigrants and returning citizens with global high-tech experience into the local high-tech sector. The programs were awarded a total grant of NIS 19 million and are expected to train 2,800 participants in the next two years.

The second program is the Emergency Program for Rapid Training and Placement of Human Capital in High-Tech Professions. As a response to the economy’s employment crisis that broke out following the Covid pandemic, the Innovation Authority, together with the Ministry of Finance and the Ministry of Economy, created an emergency program to finance widescale and rapid training and placement in a variety of positions, both technological and non-technological, in high-tech professions. As part of the program, grants were approved for training entities and companies that implement a process combining training for and placement in high-demand technology and business positions. The emergency training program approved the participation of more than 6,200 people, split between development positions and technology and business positions that support development with a total budget of NIS 125 million. The training programs will also be conducted in periphery areas and will be adjusted for under-represented populations, with emphasis on the ultra-Orthodox and Arab sectors. The training will be conducted by 29 training entities and 18 employers who undertook to take care of the graduates’ training and placement.