Israel Trade & Economic Office 2016-03-10 17:52:13

The National Authority for Innovation has been established in Israel. The Authority will replace both the Office of the Chief Scientist (OCS) of the Ministry of Economy & Industry, as well as MATIMOP – The Israeli Industry Center for R&D.

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Dear Friends,

We have recently embarked on a historic venture: the establishment of a national authority for innovation in Israel.

The establishment of the Israel Innovation Authority stems from the Israeli government’s acknowledgement of the need for a central agency to manage the country’s most important natural resource – innovation.  Comprehensively addressing the needs of Israeli industry vis-à-vis the rapidly evolving global market, the Authority will serve as a central hub for knowledge and advanced capabilities in the arena of technological innovation.

The Authority will replace both the Office of the Chief Scientist (OCS) of the Ministry of Economy & Industry, as well as MATIMOP – The Israeli Industry Center for R&D.

The Israeli hi-tech industry is faced with a number of unique challenges – a highly competitive global marketplace, rapidly changing and dynamic competition, diverse technological demands, dependence on external target markets, and foreign sources of financing vulnerable to fluctuations in the world market.  With these challenges only growing, government support is crucial in helping the Israeli hi-tech industry maintain its competitive advantage.

The government must also encourage traditional industries to incorporate the use of advanced technologies in their daily operations in order to increase their competitiveness in an increasingly demanding market.

The Israel Innovation Authority is being designed to quickly and efficiently confront the rapidly changing needs and challenges facing industry. It will embody a certain level of flexibility to enable rapid response, minimum restrictions and new support systems.  The Authority will also house new creative lending programs, guarantees, funds and financial instruments.

Around the world there are examples of extra-governmental institutions providing support for technological innovation. By definition these institutions have greater freedom of action and are more adept to addressing the dynamic needs of the market. The fact the Government of Israel is creating a statutory and independent Authority for Innovation is a sign that we are moving in the right direction.

Sincerely,

Avi Hasson
Chief Scientist and Authority Chairman

Israel Trade & Economic Office

2016-03-10T17:52:13+00:00March 10th, 2016|General|0 Comments