Israel Innovation Authority gives NIS 36 million grant for its future

The Israel Innovation Authority is set to finance human capital development programs, they announced on July 20. 

The new project aims to retrain and place workers in the fields of cutting-edge quantum technology, artificial intelligence, climate tech, foodtech, and bioconvergence with a total budget of NIS 36 million.

The call for proposals was launched in March 2023, based on the track 44 hi-tech human capital fund with the aim of developing dedicated personnel for the first time by retraining and guiding people towards work in advanced tech fields like quantum, foodtech, climate tech, bioconvergence, and artificial intelligence.

For the first time, and in accordance with recommendations of the Telem Forum, the Innovation Authority is supporting in-depth training to enable integration into the quantum computing industry with a total budget of five million shekels. 

Additionally, two programs were approved in a joint pilot with the Ministry of Defense to train and place members of the Druze community in the fields of artificial intelligence, agritech and water tech.

Forty-nine programs applied for grants, of which 20 were selected to be implemented throughout Israel, and will receive an aggregate government grant of NIS 19.8 million for training and placement of 1920 graduates from various populations.

20 innovative programs to take place in next two years

About 2,000 participants will be trained in 20 innovative programs that will take place in the next two years to develop more human capital for the future needs of Israeli hi-tech, with the goal of helping to preserve and increase the global technological leadership of Israeli innovation.

Innovation, Science and Technology Minister Ofir Akunis said that the program's launch is another essential step for the training and diversification of human capital in Israeli hi-tech. The focus is on areas that have been designated as a national priority. The diversity of human capital, which has distinguished Israel for many years, will allow Israel to lead and break through a path in hi-tech companies and the global economy that's recovering all over the world and in Israel as well.

Dror Bin, CEO of the Innovation Authority, added that in recent years the Innovation Authority has been working to expand the thematic diversity of Israeli innovation beyond the boundaries of cyber, software and fintech to other fields that correspond to future waves of tech which will affect the lives of everyone in the coming decades. 

The selected innovative programs are adapted to the market's emerging requirements and needs, in targeted areas where despite the relative slowdown, there has been an increase in the demand for skilled and high-quality employees. 

As part of the call for proposals, innovative and groundbreaking programs were selected in fields like artificial intelligence, quantum computing, climate tech, bioconvergence, and foodtech, and Bin is certain that these programs will help develop qualified workers who can adapt to the needs of industry and future tech initiatives.