The Israel Innovation Authority and the Israel Securities Authority are launching a new pilot program that would give Israeli startups access to Israel Securities Authority databases and Tel Aviv Stock Exchange trade data. The goal of the program is to enable Israeli Fintech startups to significantly advance their products towards commercialization and market-readiness while simultaneously streamlining the activities of the Israel Securities Authority and its agencies.
In addition, the program would help position the State of Israel as a country with innovative policy and capital markets, with respect to the implementation of technological advances. It would also strengthen relations between the Securities Authority and the local stock exchange with the hi-tech industry.
As part of the program, hi-tech companies were presented with potential challenges that may be overcome via technological solutions. Among these: encouraging IPOs or registration of local and foreign companies in the Israeli stock exchange, increasing the exchange’s activities and liquidity, developing tools for making financial regulation more accessible to entities subject to regulation, overcoming language barriers hindering investment or preventing companies from going public on the Israeli stock exchange, preventing errors in reporting to the stock exchange, increasing public participation in trading on the stock exchange, and more.
Eli Cohen, Israeli Minister of Economy and Industry: “The Fintech pilot program of the Israel Innovation Authority in cooperation with the Securities Authority will give Israeli startups more information and bolster their product-readiness for commercialization and penetration of the local market. It will also offer the local capital markets innovative financial technologies that can help solve many of the challenges it’s facing, while allowing the public to enjoy the fruits of Israeli innovation and technology.”
CEO of the Israel Innovation Authority, Aharon Aharon: “The goal of the pilot program in cooperation with the Israel Securities Authority is to give local startups the opportunity to implement their technologies for the benefit of the local Stock Exchange and capital markets, and to connect Israeli hi-tech with the local market. The local stock exchange and other market forces face many challenges, and I have no doubt that as the Startup Nation, Israel can supply outstanding solutions to these challenges.”
Anat Guetta, Chairwoman of the Israel Securities Authority: “The cooperation with the Israel Innovation Authority is intended to inject groundbreaking Israeli innovation into the local capital markets. This initiative to join startups with the local stock exchange is of national interest and constitutes another tier in the joint programs led by the Israel Innovation Authority and the Israel Securities Authority, where strengthening these relationships is the goal. In addition, access to stock exchange databases and trading data will give companies an opportunity to demonstrate their products to target audiences in a real-world environment and to showcase them to other world-leading securities authorities. I invite relevant companies to answer our call for proposals for the pilot program, and to contribute to strengthening the ties between the Israel Securities Authority and the hi-tech sector.”