Innovation Authority launches NIS 1 billion solution for companies hit by shekel-dollar crisis

The Israel Innovation Authority has launched a NIS 1 billion fund to support startups impacted by the strong shekel. The fund offers grants covering 33%-50% of six months' operational expenses for companies with less than 12 months of runway. Eligible firms must have annual expenses between NIS 1.5 million and NIS 100 million, with a maximum grant of NIS 15 million. Applications open Sunday with a four-week review process.

The Israel Innovation Authority launched a NIS 1 billion funding program on Sunday for startups affected by the strengthening shekel against the dollar. The fund targets technology companies and early-stage projects whose operational runway has been shortened due to the currency crisis. Companies with less than 12 months of runway can apply for grants covering 33% to 50% of six months' expenses, with the remainder matched through fundraising, loans, or revenue. Eligible firms must have annual expenses between NIS 1.5 million and NIS 100 million, and the maximum grant is NIS 15 million. The program, funded by the Finance Ministry, offers an accelerated four-week application review. Innovation Authority CEO Dror Bin said the program provides time and certainty for high-potential companies. Minister Gila Gamliel emphasized high-tech's role as an economic engine. Chairman Dr. Alon Stopel noted the initiative reflects the state's commitment to safeguarding Israel's economy.