In its innovative journey, Israel has exhibited technological achievements and economic advancements that have proved it to be one of the strongest leaders in the entrepreneurial world. Through the aid of the Israel Innovation Authority ("IIA") or accelerator programs, Israeli startups are able to receive funding at very early stages of their venture, or a set of tools and insights that fast-track startups in terms of their management skills, business focus, and marketing capabilities.
Incubators and Accelerators in Israel
In addition to the financial aid granted by the IIA to eligible startups, incubator and accelerator programs provide startups with significant tools to enhance their products and services. Incubator and accelerator programs offer valuable assistance, including a supportive infrastructure, mentoring by industry experts, and the necessary training required for new startups to further enhance their development. A significant difference between incubators and accelerators is that accelerators are intended to accelerate the development of startups within a short time frame. In contrast, incubators operate within more extended timeframes -approximately 24 months on average. As such, they focus more on the initial phases of startups and aim to guide startups through their preliminary stages of development.
The support of incubators encompasses market penetration, legal consultation, laboratory guidance, and technological development. Such incubators are located throughout Israel, advancing fields like biotechnology, aerospace, life sciences, and cybersecurity. In Israel, incubators operate through the support of the IIA, which contributes 85% of the financing received by startups through the respective incubators. It is important to point out that any grant received by the IIA, including through incubator programs, is subject...