Anya Eldan, Director of the Startup Arena at the Israel Innovation Authority: “The reputation of the State of Israel as a global hub of innovation and entrepreneurship in the hi-tech industry attracts entrepreneurs from around the world. Supportive frameworks will give foreign entrepreneurs a soft landing in the local ecosystem in order to develop their innovative initiatives and start companies in Israel.”

As part of the “Innovation Visas” track, entrepreneurs will be able to stay in Israel for a period of up to 24 months during which they can receive support as part of the Israel Innovation Authority’s Tnufa Program. Then, if the initiative turns into a company, a foreign entrepreneur can file a request to receive support from the IIA. After receiving approval, an entrepreneur can receive an expert visa to work on the initiative for a period of up to 5 years.

The innovation visa will enable foreign entrepreneurs from around the world to develop their technological initiatives in Israel. At the beginning of their time in Israel, a foreign entrepreneur will be hosted within a supportive framework that will give them exposure to Israel’s climate of innovation, work spaces, technological infrastructure, as well as business and logistical support systems.

As part of a call for submissions, 12 supportive frameworks will be selected from the first 15 submissions.

Chairman of the Israel Innovation Authority and Chief Scientist at the Israeli Ministry of Economy, Avi Hasson, said: “Israel’s unique ecosystem draws many foreign entrepreneurs interested in setting up initiatives and partnerships here. This track will attract high quality entrepreneurs from the entire world with knowledge, experience and groundbreaking ideas to Israel, and will thus strengthen the country’s position as a world leader in innovation and entrepreneurship.”

(YWN – Israel Desk, Jerusalem)