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The technology incubators provide assistance and support to startups in their initial stages; they are established and operated by both experienced venture capital firms and local and international corporations, which provide significant added value and support for the startup companies and budding entrepreneurs.<\/p>\n\n\n\n
13 groups took part in a competitive process, in which the Israel Innovation Authority selected five groups to operate new technology incubators within a year. The winning groups include global corporations such as pharma companies, Bristol Myers Squibb, Becton Dickinson, Kyocera, Corning, CBG group, Eren Industries, and more.<\/p>\n\n\n\n
The submitted proposals focused on a variety of areas with high risk such as: climate, health-tech, foodtech, space and deep tech. The selected incubators are expected to establish about 150 new innovative technology companies within the next five years.
In order to meet their obligations, the incubator franchisees, will provide funding and investment pledges for the incubator that exceed NIS 150 million.<\/p>\n\n\n\n
Orit Farkash-Hacohen, Minister for Innovation, Science and Technology<\/strong>: \u201cThe Israeli high-tech industry is thriving and breaking records. The role of the government is focused on two issues: to be a catalyst for innovation and for the economy as a whole and to focus on areas in which the risk is high and the innovation is ground-breaking. This morning the Israel Innovation Authority selected five outstanding groups who will bring welcome progress in developing areas that constitute the future of Israeli high-tech. The spread of Israeli government’s investments in a wide range of technological areas will expand the solid foundation of high-tech in the long run and will allow the Israeli economy to grow and expand to additional important directions. I am pleased that the final selection ranges over multiple and diversified fields starting with climate all the way to space and other important sectors, therefore resulting in the growth of numerous new companies for the benefit of the entire economy.\u201d <\/p>\n\n\n\n Dr. Ami Appelbaum, Chairman, Israel Innovation Authority<\/strong>: “The proposals presented by the various bidding groups were excellent and varied. The groups included global corporations and leading local players, who can bring extensive added value to the new startup companies, and which include an impressive number of representatives from Israeli academia. The sectors in which the incubators will operate cover fields highlighted by the Authority’s strategy, in a way that will expand Israeli high-tech’s diversification. This is highly significant for increasing the number of new startups and creating additional growth engines for the local economy. These sectors still lack a substantial deal flow and therefore the expectation is that the incubators will be proactive in establishing companies, which will mostly be based on the commercialization of knowhow from academia, and which will be able to develop and expand with the help of the incubator, thus creating a supportive ecosystem for these sectors.”<\/p>\n\n\n\n Dr. Appelbaum further added<\/strong>: “A large number of the proposals focused on sustainability areas \u2013 climate, food-tech and health-tech with an emphasis on bio-convergence, where there is a need to create a supportive ecosystem, by incorporating needed knowhow and expertise, and by bringing venture capital investors to further support the companies, and most importantly in strong human capital.”<\/p>\n\n\n\n The goal of the new technology incubators is to promote investment in the early stages of technological projects by creating a support and assistance infrastructure that will enable turning innovative technological ideas, which are in their initial stages, into advanced startup companies that will be able to raise additional funding. Furthermore, they are intended to promote technological entrepreneurship and the commercialization and transfer of disruptive and innovative technologies from academia to industry in areas that are both complex and pose high risk factors; to strengthen Israel’s technologically innovative ecosystem in seed investments and to assist startups working in unique and complex technological industries; to create and test their products, perform technological feasibility tests, pilots and more.<\/p>\n\n\n\n The startup companies that will be established by the incubators will be entitled to a budget of up to NIS6.5 million per project. This includes a 60-85% grant from the Israel Innovation Authority as well as complementary funding from the incubator’s operating companies. Moreover, the companies will benefit from the incubator’s support in early stages as well as continued investment via dedicated investment funds established by the incubators and made available for the incubated companies. Furthermore, the companies will benefit from the incubator\u2019s teams as well as their shareholders, who will provide technological and business guidance, connection to experts from the entire value chain and additional strategic local and international investors, as well as access to lab infrastructures.<\/p>\n\n\n\n The Israel Innovation Authority selected five franchisees to establish five incubators. Some of the franchisees include shareholders who operated the Authority’s technology incubators in the past and are expected to operate the new incubators using a somewhat different shareholder composition and with a specific focus within the specific area of operation:<\/p>\n\n\n\n The winning groups will enjoy a five-year franchise (with an option to extend for an additional three years) in which they will establish high-risk and disruptive startups and provide financial and significant added value to them. The Innovation Authority will help lower the risk by providing grants to the established startup companies. The winning groups will also be able to establish an R&D infrastructure with a budget of up to NIS 4 million, with the Authority funding 50 percent of the investment. This infrastructure will be put to the free use of the incubated companies and additional companies within the ecosystem.<\/p>\n","protected":false},"excerpt":{"rendered":" Announcing the winners for the operation of five new technology incubators in the following fields:Health with an emphasis on Bio-Convergence, Climate, Foodtech, and Space. Israel Innovation Authority Launches New Incubators Program Announcing the winners for the operation of five new technology incubators in the following fields: Health with an emphasis on Bio-Convergence, Climate, Foodtech, and Space. 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