Israel Innovation Authority Name 5 Groups To Open Tech Incubators

Israel’s Innovation Office has named the winners of five new technology incubators that will support startups in their early stages with approximately 500 million masterpieces ($ 155 million). The incubator will work in climate, food technology, space and bioconvergence, a healthcare that combines advances in biology and software engineering, the company said Tuesday.

Incubators will be set up and run by experienced venture capital companies and local and international corporations.

The IIA selected five of the 13 participating groups to establish incubators during the year. Among the winners are global corporations such as pharmaceutical companies, Bristol Myers Squibb, Becton Dickinson, Kyocera, Corning, CBG group, Eren Industries and others.

The selected incubators are expected to create about 150 new innovative technology companies over the next five years. To meet their obligations, incubator franchises must provide sources of funding and investment commitments to the incubator in excess of 150 million masterpieces (about $ 46 million).

Winning incubators: The Kitchen Hub 2, owned by the Strauss Group, which was selected to operate a food technology incubator with regard to alternative proteins, fermentation and cellular agriculture; Netzero Ventures, which has been selected to operate a climate incubator aimed at alternatives to hydrogen, water purification and emission reductions related to energy, transport and construction; Incentive Incubator NG, which was selected to manage a health incubator focused on accurate and personalized medicine; NGT Healthcare 2, which was selected to manage another health technology incubator to promote bioconvergent treatment solutions and promote technology projects in the Arab sectors; and Space & Earth, which was chosen to manage the space and deep technology incubator to diversify its application and make Israel a world leader in the sector.

Startup companies created by incubators will be eligible to budget up to 6.5 million masterpieces for each project (approximately $ 2 million), which includes a 60-85 percent grant from the Israel Innovation Authority, as well as additional funding from the respective capital of each incubator . firms.

“The role of government is focused on two issues: to be a catalyst for innovation and the economy as a whole and to focus on areas where risk is high and innovation is innovative,” said Orit Farkash-Hakoen. , Minister of Innovation, Science and Technology.

“The sectors in which the incubators will operate cover areas identified in the Office’s strategy in a way that diversifies Israeli high technology … and creates additional growth drivers for the local economy,” said Dr. Ami Appelbaum, Chair of Israel Innovation. companies. Authority.

Leave a Comment