Tuesday, July 31, 2018

Israel boosts funding for ultra-Orthodox tech entrepreneurs


Israel’s Innovation Authority, in charge of setting out the nation’s technology policies and funding startups in their earliest stages, said it was expanding its support for ultra-Orthodox tech entrepreneurs, to make it easier for them to access funding and integrate into Israel’s booming tech scene.
A statement from the Ministry of Economy and Industry said that under the revised terms of a program that has been in force since 2014, technology enterprises at least 33 percent-owned by ultra-Orthodox entrepreneurs will be eligible for funding for two years: 75% of their R&D expenses for the first year and 70% for the second. The original program only provided funding for one year.
These startups will also be eligible for grants of NIS 2.5 million ($682,000) in the first year and of up to NIS 4.5 million in the second year. The program originally granted NIS 2.3 million in the first year alone.

1 comment :

  1. Affirmative action? Uh oh. That doesn't seem like a good idea.


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