Swords of Iron: Israel Innovation Authority Supports Startups
The Israel Innovation Authority is launching a new grant program designed to help startups during Operations Swords of Iron. The IIA also published a series of administrative adjustments to streamline communications with it.
Express Grant Track
The IIA is establishing an express grant track for startups that need financial support to survive during the war. At this stage, the volume of the express grant track is about ILS 100 million. Startups will be able to submit applications in early November 2023. Estimates are that about 100 startups will receive a grant already at the beginning of December. This track is intended for Israeli technology companies that own significant technological assets and that are in the product development or initial sales stages, including companies in active fundraising rounds. As part of its process for considering grant applications, the IIA will examine a company’s technological assets, runway, the availability of capital for investment by investors, and the magnitude of the harm to employees and infrastructure. The IIA will update the precise eligibility criteria for applying for a grant when it opens the grant track.
You can register to receive updates about the opening of registration for the express grant track using this link (in Hebrew).
Administrative Reliefs
In addition to opening the express grant track, the IIA has approved a series of reliefs and supportive measures for high-tech companies effective immediately and continuing for 90 days:
- Postponement of submissions to the IIA for particular tracks.
- Postponement of the deadline for presenting supplementary funding for an additional period of up to three months.
You can receive additional details about the administrative reliefs using this link (in Hebrew).
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Barnea Jaffa Lande’s High-Tech Department is at your service to answer any questions and provide assistance vis-à-vis the Israel Innovation Authority or with any other issue.