As part of an initiative to promote regional development, the Israeli Innovation Authority, in collaboration with the Ministry of Development of the Negev, Galilee, and National Resilience, the Tekuma Authority, and the Ministry of Social Equality, has announced a fund of 35 million shekels aimed at encouraging high-tech companies to expand into the northern and southern regions of Israel, which have been heavily affected by the war.
This funding, part of the "Leap to High-Tech" program, will assist companies in opening new branches and hiring local talent, thus fostering economic growth and reducing disparities across the country.
"The program aims to expand the available human capital for companies and also helps local peripheral entities offer high-tech businesses an attractive package for establishing new activities," said Dror Bin, CEO of the Israeli Innovation Authority.
"Strengthening employment in the Negev and Galilee is a priority. The state has a vested interest in encouraging companies to expand their activities in the Negev and Galilee, thereby increasing quality employment and enabling talented young people to build their futures in these regions, while attracting new populations," said Yitzhak Wasserlauf, Minister of Development of the Negev, Galilee, and National Resilience.
Companies will be able to receive financial support for the practical training of inexperienced employees and funding for experienced employees who will mentor the new recruits as part of the training. Selected companies are expected to launch their programs within six months of receiving the grant.
Companies wishing to expand their activities to the Negev, Galilee, and peripheral regions can submit applications in response to the call for proposals until September 29.
Simultaneously, the Investment Authority of the Ministry of Economy and Industry has launched a program designed to assist in the creation and relocation of high-intensity knowledge and high-salary activities for companies in the industrial and high-tech sectors in national priority areas and Jerusalem. Companies can receive a grant of up to 30% of the cost of salaries for new employees. The assistance includes covering up to 30% of the employees' salaries, with the call for proposals open until September 16, 2024.
“The Arab community is experiencing significant changes and has workers with the skills necessary to integrate into high-tech companies across various professions. The opening of branches will allow companies to tap into this pool of candidates and facilitate the integration of Arab workers into the industry. Government Decision 550 (the five-year plan for the Arab community) has allocated dedicated budgets for this purpose, enabling companies that open in Arab cities to receive financial support to achieve this goal,” concluded Hassan Tawafra, head of the Economic Development Authority for the Minority Sector at the Ministry of Social Equality.
Caroline Haïat
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