Israel Innovation Authority funds Deep Tech Incubators

© Antony Weerut –

The Israel Innovation Authority is launching a new fund to establish 3 Deep Tech Incubators. Winners of the tender will receive grants of up to NIS 40 million (approximately 10 million US-dollars) over a period of up to 5 years to set up incubators focused on health, bio-convergence, climate, agri-tech, food-tech and other sectors.

The Israel Innovation Authority today unveiled a new Deep Tech ‘Incubator Fund’ as part its ‘Boost for the Israeli High-Tech’ initiative, with an emphasis on nurturing new startups while diversifying the tech landscape and strengthening Israel’s innovation competitiveness against global innovation hubs,. The new fund invites both Israeli and international corporations, along with venture capital funds, to submit proposals to secure grants of up to 40 million NIS for the operation of three new technological incubators.

The selected incubators will concentrate on investing in Deep Tech companies operating in sectors such as health, bio-convergence, food-tech, agri-tech, climate-tech, and other areas marked by high technological complexity and innovation, intricate regulation, lengthy market penetration processes, and tangible product offerings.

The incubators set up by the new fund will serve as innovative investment entities, integrating both local and international investors to offer financial backing and a supportive framework for nurturing startups in various Deep Tech sectors. Entities selected through the tender process will receive grants of up to 40 million NIS over a 5-year period. This funding will cover the incubator’s operational expenses and facilitate the establishment of a central laboratory for the benefit of the participating companies. The incubators will support companies all the way from ideation to their initial significant funding stage (Round A).

Additionally, companies participating in the incubator can receive tens of millions of shekels in non-dilutive investments from the Israel Innovation Authority through various programmes. In addition to supporting the operation of the technological incubator itself, any incubated company can compete for the Incubator Fund and potentially receive grants of over 21 million NIS – approximately 6 million dollars per company.

The tender process will be open for six months. Applicants are required to demonstrate the availability of funding sources totaling at least 120 million NIS, which will be allocated and invested in the incubator and incubated companies during the grant period.

Source and further details: Israel Innovation Authority