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The Israel Innovation Authority Gives $43 Million for Tech Training in 2021

The funds should help a Covid-19 tattered economy.

Assistant Professor Sagi Dalyot Technion Viedo

Assistant Professor Sagi Dalyot Technion Viedo

The Israeli government, through the Israel Innovation Authority, has put up NIS 139 million ($43 million) to assist in new high tech training for Israelis this year. The money will fund 62 different programs which are intended to help those unemployed Israelis who wish to pursue careers in hi-tech. This is especially important now, as 2021 comes in during a Coronavirus recession.

For decades now Israel’s economy has been dependent on its high tech sector. The success of that sector has led to the country being dubbed “Startup Nation.” So it is no wonder that the Israeli government would fund such programs, especially in light of the high unemployment caused by the Coronavirus crisis. Ione major advantage that the high tech sector has over other forms of industry at times like these is that many of its workers can work remotely so quarantines do not stop them from producing.

The programs will train over 9,000 people, with a commitment to place 80% of graduates in various R&D and technological support positions in the high-tech sector and Israeli industry in general.

The Israel Innovation Authority, an independent publicly funded agency, was created to provide a variety of practical tools and funding platforms aimed at effectively addressing the dynamic and changing needs of the local and international innovation ecosystems. This includes early-stage entrepreneurs, mature companies developing new products or manufacturing processes, academic groups seeking to transfer their ideas to the market, global corporations interested in collaborating with Israeli technology, Israeli companies seeking new markets abroad and traditional factories and plants seeking to incorporate innovative and advanced manufacturing into their businesses.

In order to meet the various needs of its wide range of clients, the Israel Innovation Authority has developed a new internal structure focused on six primary innovation divisions. Each division offers a unique “toolbox” of customized and comprehensive incentive programs. These divisions thus serve as a launch pad for successful innovative projects, providing entrepreneurs and companies with the most relevant plan for them to realize and implement their ideas, develop their products, and mobilize private investment.

“The Israel Innovation Authority considers the new human capital programs an important act of cooperation between industry, training organizations, and government ministries,” said Anya Eldan, VP Israel Innovation Authority. “The programs will increase the number of new high-tech employees by tens of thousands and bolster Israel’s digital transformation, as well as provide a rapid response to unemployment. The job market is changing, and innovative and rapid training will increase the number of employees in the Israeli industry as well as open doors to additional professions, promoting high-productivity employment opportunities.”

MK Israel Katz, Israel’s Minister of Finance: “The Training Administration at the Israel Ministry of Finance and the Israel Innovation Authority’s joint program for placing unemployed workers in high-tech professions within Israeli industry is an example of the rapid response provided to jobseekers to integrate them into industry in general and the high-tech sector in particular. I applaud the collaboration between the Training Administration and the Innovation Authority in launching this program swiftly, with the addition of a dedicated budget for professional training. We are convinced that such government initiatives designed to provide grants to entities aimed at creating highly productive, quality jobs are an effective and focused solution to increased unemployment.”

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