The Israel Innovation Authority (IIA) has announced the introduction of a program aimed at propelling technological leadership in three critical sectors: delivery technology, health-tech utilizing Bio-Convergence technologies, and technology solutions for schools and campus security.
With a budget of NIS 40 million, the program aims to foster collaboration among companies and technologies within a unique regulatory sandbox, allowing companies to operate within an adaptive and supportive regulatory framework.
The program's three initiatives will provide Israeli technology companies with the opportunity to validate, operate, and demonstrate disruptive technologies with as little bureaucratic red tape in the way as possible, thanks to collaborations with key governmental agencies.
What will the Israel Innovation Authority's new program focus on?
The first initiative focuses on last-mile delivery, addressing the final leg of the delivery process from logistics centers to end destinations. With the surge in e-commerce and home delivery services, this phase has become increasingly complex and costly. The program invites companies to develop and demonstrate door-to-door delivery solutions that optimize shipment transfer securely and efficiently. By reducing traffic congestion, parking issues, and air pollution, these innovations aim to revolutionize the last-mile delivery process.
The second initiative revolves around Bio-Convergence technologies in healthcare, a sector that integrates biology with expertise from other fields such as engineering, computer science, and mathematics. With a market size of $120 billion in 2022 and projected annual growth of 8%, Bio-Convergence presents significant technological and regulatory challenges.
Through collaboration with the Health Ministry, the IIA is facilitating support for companies at early stages of technological development to enable rapid entry into clinical trials in Israel and global markets, potentially revolutionizing healthcare through advancements like organ printing.
The final initiative focuses on school and campus security, aiming to address the increasing need for advanced security measures in educational institutions worldwide. With a projected annual growth rate of 19% by 2030, this sector requires innovative technological solutions to ensure the safety of students and staff in light of escalating violent incidents.
“The program is designed to propel the Israeli technological leadership in the selected sectors,” said Dror Bin, CEO of the IIA. “We are focusing on areas that we believe have tremendous growth potential, and in which Israeli technology companies have a relative advantage as well as the possibility of leading innovative products' development that will change the world.”