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