Israel launches 50 million USD plan to encourage entrepreneurship in peripheral regionsChristian Fernsby ▼ |
Middle East The plan aims to promote an innovation-oriented economy
Israel has launched a plan to encourage entrepreneurship in the northern and southern peripheral regions at a cost of 180 million new shekels (50 million U.S. dollars), the Israel Innovation Authority (IIA) said.
In addition, the companies operating in the incubator will each get an annual support of up to 1 million new shekels, alongside the benefits granted by the IIA.
The franchisees chosen to operate the incubators will work to develop the innovation system in their environment, while promoting cooperation with academic institutions, industry centers, investors, partners and potential customers.
"The plan will lead to the addition of hi-tech companies in the periphery, which will increase the employment centers in these regions," said Israeli Minister of Economy Eli Cohen. ■
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