About NIS 18.5 million was approved within the Israel Space Agency program framework on Thursday, to be given to 11 different companies for the development of innovative space technologies.
The space agency's program is a collaboration between the Innovation and Science and Technology ministries, as well as the Israel Innovation Authority. The framework, which was launched in 2012, has distributed around a total of NIS 160 million in funding.
The overall goal of the program is to advance the technological development capabilities of the Israeli space industry.
Technology and Science Minister Orit Farkash-Hacohen said she "applauds this important initiative from the Israel Space Agency, under the Ministry of Innovation, Science and Technology, to advance civilian innovations related to space. The global space industry is going through a real revolution."
"The market doubled in size over the last decade and is expected to grow to a trillion dollars in the coming years," she continued, adding that "the State of Israel has clear advantages in the space industry, but especially in the security domain."
Farkash-Hacohen also stated that the funds provided to the 11 companies will improve their research into satellite communications, rocket propulsion, mining, agriculture and sensors used in climate change research.
All companies involved are those that develop equipment for calibration and checking space products that are designed for satellites or are connected to their activities.
Selection criteria for the program include the product and technology, R&D, the local market and a business plan.
The companies that met the criteria are Eicha Communication Systems, Paxis, Terra Space Lab, NSL Communications, GorillaLink, GreenOnyx, HELIOS, SCD, Space Plasmatics, NewRocket and Ramon Space.