Title: Israel Innovation Authority Supports Early-stage Technology Entrepreneurs

The Israel Innovation Authority (IIA) is committed to nurturing entrepreneurship and innovation in Israel. One of its key initiatives is to provide financial support to technology entrepreneurship projects during the proof of concept (PoC) stage.

Entrepreneurs seeking funding for their PoC stage have the option to choose between two tracks offered by the IIA. The “year zero” grants aim to fund the initial PoC and facilitate knowledge transfers from academia to the company. These grants are available through Benefit Track 4 (technological incubators) and Benefit Track 39 (entrepreneurship incubators in peripheral regions). Entrepreneurs interested in this supportive framework for the PoC stage may submit a project proposal to an IIA-approved incubator. If the proposal is accepted, a joint application will be submitted to the IIA for the project’s approval.

The PoC stage, also known as “year zero,” precedes the incubator project’s first and second operating periods. Entrepreneurs in an approved incubator can receive IIA support in the form of a grant of up to 85% of the IIA-approved maximum budget of up to ILS 1.5 million, for use in the PoC stage, technological validation, and knowledge transfers from a research institute. The incubator will also provide 15% of the approved budget.

In addition to the “year zero” grants, the IIA also offers a track that provides comprehensive assistance through innovation laboratories run by leading corporations. This assistance includes access to unique technological infrastructures, business feasibility assessment, pilot conduct, identifying marketing channels, exposure to know-how, connections to investors, partners, and customers of the corporation operating the laboratory, and synergies with similar companies accepted into the laboratory. This track is aimed at fledgling entrepreneurs looking to establish startup companies with global potential and with a technological idea in cybersecurity and fintech, environmental protection and sustainability, digital healthcare, or bioconvergence.

For entrepreneurs interested in the “technological innovation laboratories” track, the IIA offers a grant of up to 85% of the IIA-approved budget, up to a maximum budget of ILS 1 million, for an operating period of up to one year. There is also an option to continue receiving a grant of up to 50% of the approved budget, up to a maximum of ILS 1 million, for an additional year of operations.

The IIA’s support for early-stage technology entrepreneurs is a pivotal step in advancing innovation and entrepreneurship in Israel. These funding opportunities play a crucial role in helping entrepreneurs navigate the challenging early stages of developing new technology and bringing their innovative ideas to fruition.