Israeli govt sets up Technology and Innovation Authority

Finance Minister Moshe Kahlon: Maintaining Israel's position as a technological powerhouse is an existential duty.

The Israeli government has approved the establishment of a National Authority for Technology and Innovation (NATI). The authority will function as the executive arm of the Office of the Chief Scientist at the Israeli Ministry of Economy.

Minister of the Economy Aryeh Deri, one of the proposers of the authority along with Minister of Finance Moshe Kahlon, said, "The efficient operation of the Office of the Chief Scientist at the Ministry of Economy, including its activities to support diverse sectors within Israeli industry, must be facilitated in order to maintain the leadership position of Israeli technology in the world, while making a significant contribution to the local economy, breaking into new markets, developing traditional industries and simplifying work processes, all with an eye to strengthening Israel's standing as a world leader in innovation."

Kahlon said: "One of the goals we decided on at the Finance Ministry is to support and to promote any proposal that will encourage entrepreneurship and strengthen Israel's position as a 'Startup Nation.' This innovation authority will help strengthen Israel's international economic relations in all fields and just as importantly - it will make the lives of entrepreneurs easier. Maintaining Israel's position as a technological powerhouse is an economic and existential duty for us."

The government’s innovation policy aims at achieving broad national goals in the coming decade, including: encouraging growth of industrial companies, injecting technological innovation into traditional fields which are not traditionally R&D dependent, strengthening research infrastructure as well as capital and labor, harnessing innovation for the improvement of the public sector and increasing the participation of sectors currently underrepresented in the hi-tech work force.

"In light of the great importance of innovation in Israel, which in recent years has become the main engine of growth for the Israeli economy and a source of national pride, the government's capabilities must be improved, via a structural change to the Office of the Chief Scientist which will bring forth improved operational capabilities for Israeli industry. The structural change is designed to enable the government to continue to determine its policies in this field," the official announcement said.

Published by Globes [online], Israel business news - - on June 22, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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