The new initiative will tap into the talents of computer science graduates from Israel's Arab and ultra-Orthodox communities to answer a chronic shortage of some 15,000 workers in the tech ecosystem.

The Israel Innovation Authority and the Israeli Ministry of Economy and Industry announced they will expand the programs with increased funding and an additional year.

Seeking to integrate Israel's Ultra-Orthodox into the workforce, 12 Angels is the first-ever VC exclusively for entrepreneurs from the Haredi community.

To curtail the high poverty and unemployment rates among Haredim, the Technion created a pre-university program that enables the ultra-orthofox to catch up on some of the core knowledge they may have missed in school.