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Diverse Startups: Incentive Programs for Ultra-Orthodox and Minorities

The incentive programs for Ultra-Orthodox and minorities are sub-programs of the Early Stage Incentive Program.

Goal of the incentive program:

To provide investors with a positive signal and to create an incentive for investment in early stage companies owned by a minority or an Ultra-Orthodox entrepreneurs that constitute a critical factor in encouraging the growth and development of the Israeli high-tech industry.

Who is the incentive program for?

Israeli companies in all of the industry’s sectors, at the beginning of their activities, interested in developing or upgrading innovative products, improving local production processes and continuing operation and growth in Israel. Companies that at least 33% of their shares are owned by an entrepreneur from the Haredi or minorities sector.

What do you get?

  • A grant of 75% of the project’s approved budget in the first year and 70% in the second year.
  • Companies in this incentive program can submit a further request under the Early Stage Companies Standard Program up to a maximum total grant of NIS 5 million during a cumulative period of up to two years.
  • The opportunity to raise supplementary financing up to six months after the date of approval.

Why should you apply for this incentive program?

Increased Grants for specific populations Assistance during Establishment Stages: The sub-program enables young startup companies to overcome the difficult stages of establishing a startup and of raising funds during the product development stage.

Positive Signal to Investors: The possibility of raising supplementary financing for up to six months after the project’s approval assists companies in their efforts to mobilize investment during the early stages of operation.

Attractive Funding Model: The program assumes the risks associated with the company’s development stage but does not participate in the profits or future successes. The companies receiving benefits undertake to repay the received funding to the Innovation Authority via royalty payments from sales, but only if the project succeeds in reaching the commercialization stage according to royalties’ directives.

For further details: Diverse Startups: Incentive Programs for Ultra-Orthodox and Minorities

 

Coding Bootcamps Program

This program supports courses that offer extra-academic computer coding training.

Goal of the incentive program:

The Coding Bootcamp Program aims to increase the number of graduates acquiring relevant practical training who are placed in development roles at high-tech companies with a salary of at least NIS 14,000 (15 months after finishing the course).

Who is the program for?

Professional training companies, non-profit associations, high-tech companies and academic institutions interested in establishing or expanding an extra-academic coding training program.

What do you get?

Conditional Funding: NIS 7,500 per graduate in an existing course and NIS 12,000 per graduate in a new course. The conditional funding will become a grant when the course attains at least 50% of the declared growth objective.
Placement Grant: Awarded for placement of graduates in development positions in the high-tech industry with a salary of at least NIS 14,000 (15 months after finishing the course) for at least 9 months. The sum of the grant increases according to the graduate’s salary. A higher grant will be awarded for graduates belonging to one of the sectors of the population currently under-represented in the high- tech industry.

For further details: Coding Bootcamps Program

 

Back to Tech Program

The Israel Back to Tech Program has undergone a makeover and is today focused on bringing skilled personnel back to the Israeli high-tech industry. The program seeks to increase the number of skilled workers in the Israeli high-tech industry via Israeli technology professionals living abroad who have accumulated knowledge and experience in the global high-tech industry. The program is for Israelis seeking to integrate into the industry in Israel, while maintaining a continuous dialogue with employers interested in employing high-quality and experienced personnel.

Further details: Backtotech@innovationisrael.org.il

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