The State of Israel is a world renowned source of innovation, with a unique supportive ecosystem for entrepreneurship and technology, and has an international reputation in the fields of high-tech industry, entrepreneurship and technological innovation.
However, there are some sectors where there is a high potential for innovative ideas, backed by technological capabilities, but factors such as lack of access to the necessary infrastructure for the purpose of demonstrating feasibility inhibit the creation of an entrepreneurial industry, sectors such as energy, Industry 4.0, 3D Printing and advanced materials.
The Innovation Labs will be selected via a competitive process where, among other things, preference will be given to traditional manufacturing corporations.
The program will help Israeli corporations to grow and prosper in Israel, and will assist foreign companies to create reciprocal relations with Israel's unique innovation environment and establish a presence in the country through the accessibility of infrastructures that are not available to local start-ups to date. This, in turn, will strengthen Israel's uniquely innovative ecosystem, thereby bolstering and advancing Israeli industry, in particular, and the Israeli economy overall.
The Innovation Labs will operate under an open innovation model, which is an essential tool for the development of corporations in the digital age and to adjust to the constantly evolving markets. In addition, open innovation is a precursor of ecosystem growth in fields which currently are lacking in Israel, allowing mutual enrichment between industry, entrepreneurs and academy that could lead to the development of new production industries and jobs.
The Innovation Labs will be selected via a competitive process where, among other things, preference will be given to traditional manufacturing corporations.. A corporation that will win a competitive process to establish a technological Innovation Lab will receive a three year license, and the Innovation Authority will partially fund the establishment of the required infrastructure and the ongoing operation of the Innovation Lab. The program will support approved start-up companies, with a funding of 85% of their POC budget, up to 1 million NIS.
The program will operate according to Incentive Program No.29 of the Innovation Authority - 'Technological Innovation Labs Program (Pilot)'.