Israeli Government Approved $870M to Boost Climate Tech
The goal of the program is to double the number of climatech start-up companies from 55 in 2021 to 110 companies by 2026, and to establish 10 Israeli venture capital funds that specialize in the field by 2026, compared to only one such fund at present
Wind turbines project in the north of Israel
The move follows the completion of a detailed report (Hebrew) by an inter-ministerial team, led by the directors of the Science and Technology, Environmental Protection, and Energy ministries, and the director general of the Innovation Authority, as reported by Times of Israel.
The program (approved June 2022) includes plans to double the number of applied researches, registering relevant patents and promoting research that has reached maturity through the establishment of start-up companies, with the goal of doubling the number of start-up companies engaged in climate-tech from 55 companies in 2021 to 110 companies by 2026, CTECH by Calcalist reported.