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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 minority or 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

 

Assistive Technology for the Disabled Incentive Program

This unique incentive program encourages R&D of assistive technologies for the disabled and contributes to their quality of life while easing their integration into society, the community and the labor market. These developments benefit the disabled and enable significant financial saving on social and national levels.

Goal of the incentive program:

Encouragement of R&D in industrial products that provide technological solutions for the disabled to enable them to integrate into society and the labor market. This incentive program is the result of collaboration between the Innovation Authority and the National Insurance Funds.

Who is the incentive program for?

Israeli companies and nonprofit organizations interested in developing technologies that serve groups with physical, mental or cognitive disabilities, who collectively represent up to 5% of the population.

What do you get?

  • A maximum grant of NIS 900,000 for a period of up to 12 months.
  • An NGO project that is approved will receive 85% of the approved budget up to the maximum grant.
  • A commercial corporation’s project that is approved will receive: 65% of the approved budget up to the maximum grant if the corporation was established up to 5 years before submission of the request and 30%-50% of the approved budget if the corporation is more than 5 years before submission of the request.

Why should you apply for this incentive program?

Support at a higher rate than usual: R&D projects in this incentive program are supported by the Authority at a higher rate than usual.

Exemption from royalty repayment for NGOs: Nonprofit organizations are exempt from paying royalties, as usually set in most of the Authority’s incentive programs.

For further details: Assistive Technology for the Disabled Incentive Program

 

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