Israel Invests NIS 75M To Establish Periphery Innovation Centers

A new Israeli initiative will allocate 75 million shekels to five innovation centers in the country’s periphery to encourage entrepreneurship in various fields, as well as employment outside of the central region, where almost all of the high-tech sector is based.

It’s the first initiative of its kind in the country, spearheaded by the Israel Innovation Authority and six governmental ministries. 

The centers are intended to focus on promoting innovative technologies in agriculture, food, energy, and combating climate change, among other fields. Each center will include programs to encourage entrepreneurship and local innovation, as well as training programs to promote employment in the high-tech industry. 

Israeli companies, corporations, and non-profit organizations can submit applications, and the winners will receive a grant of up to 15 million shekels over five years. The proposals will be evaluated according to their submitted business plans, which should emphasize the promotion of entrepreneurship, and programs to encourage technological innovations.  

CEO of the Israel Innovation Authority, Dror Bin, said: “High-tech activity in Israel is mostly concentrated in the center of the country, and in around software-oriented activity such as organizational software, cyber, and fintech, for example.

“The Israel Innovation Authority is leading a strategy for high-tech diversification in terms of the area of focus, as well as geography and demography.

“The geographic and demographic periphery has many assets that can be leveraged for the benefit of the diversity of Israeli high-tech, and this move is aimed at harnessing these strengths and generating greater growth across the country,” he said.

“The development of high-tech in the periphery will strengthen the local areas, and the entirety of the Israeli high-tech industry.”