Thursday, March 28th | 18 Adar II 5784

Subscribe
June 6, 2018 1:51 pm
0

Israeli Government to Invest in Transportation Technology Startups

× [contact-form-7 404 "Not Found"]

avatar by Reuters and Algemeiner Staff

Traffic on an Israeli highway. Photo: Wikimedia Commons.

Israel‘s government said on Wednesday it would invest 30 million shekels ($8.4 million) a year on a pilot program aimed at improving transportation and developing the country’s high-tech industry.

The program looks to promote companies that will impact the state of transportation in Israel and globally, the Israel Innovation Authority said in a statement.

The authority is working together with the Transportation Ministry and Prime Minister’s Office on the initiative.

The program is intended for Israeli tech companies in the field of transportation. They will receive financial support of 20 to 50 percent for approved research and development expenses — with additional support of up to 75 percent of R&D expenses for projects that can demonstrate significant potential to streamline and improve transportation within Israel.

Companies will return their grants to the Israel Innovation Authority via royalties from sales only if an initiative has been commercialized.

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

Algemeiner.com

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.