The Israeli government has established a 1 billion shekel ($328 million) fast-track funding initiative to support startups and early-stage growth companies facing financial strain from the shekel's rapid strengthening against the U.S. Dollar.
Developed jointly by the Israel Innovation Authority and the Ministry of Finance, the program provides financial relief to tech firms that have experienced a 20% reduction in their planned operational runway due to currency movement. The scheme extends runways by approximately six months, helping companies avoid hastily entering fundraising rounds during an unfavorable market climate.
"Our foremost responsibility at this time is to provide them with an effective safety net and an appropriate financial bridge, enabling them to retain their exceptional human capital and technological excellence," Israel Innovation Authority CEO Dror Bin said.
Companies seeking assistance must be at most 15 years old with fewer than 12 months of operational runway remaining. Qualifying firms must show annual expenses between 1.5 million and 100 million shekels that exceed revenues and allocate a minimum of 50% of total spending to research and development conducted locally in shekels. Revenue-generating startups may also apply if they can show that at least half their revenue comes from foreign currency sources.
Awards will be determined through evaluation of each company's technological capabilities, competitive position, intellectual property, and prospective impact on the Israeli economy.