Israel Innovation Authority announces new initiatives to foster technological advancement

Tel Aviv [Israel], July 7 (ANI/TPS): The Israel Innovation Authority (IIA) announced Wednesday the launch of a new program with an investment of 40 Million Shekels (USD 11 million). The program includes initiatives in three different verticals - delivery technology (with an emphasis on "last-mile" solutions), Health - using to Bio-Convergence technologies and technology solutions for schools and campus security.
IIA said the initiatives aim to foster synergy among different companies and technologies within the framework of a globally unique regulatory sandbox, enabling companies to operate in an adapted and supportive regulatory framework.
"The program is designed to propel the Israeli technological leadership in the selected sectors," said Dror Bin, CEO of the Israel Innovation Authority. "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."
IIA collaborate with various regulatory entities, including the Ministry of Transport and Road Safety, the Ministry of Health, and the Israeli Police. The objective is to establish regulatory sandboxes and to develop an adaptable and enabling regulatory environment. Through this collaboration, the Israel Innovation Authority aims to assist in the creation of comprehensive technological ecosystems in Israel, increase the number of investors specializing in these fields, and provide a significant competitive advantage to the participating companies in order to accelerate their breakthrough into global markets.
The three initiatives, said IIA, will enable Israeli technology companies to validate, operate and demonstrate disruptive technologies within a unique and globally innovative sandbox, with the aim of promoting the Israeli technological ecosystem. (ANI/TPS)