Israel unveils $70.8 million plan to boost hi-tech in Arab sector

In a tech expansion of sorts, Israel has launched a 225-million-shekel ($70.8 million) programme to boost high-tech developments in the Arab sector in the country.

According to a five-year plan, by the Israel Innovation Authority (IIA) and the Ministry for Social Equality,  the country will encourage entrepreneurship and hi-tech employment in the Arab communities.

The programme includes the setup of entrepreneurship centres, technological accelerators to advance new ideas, angel clubs to recruit investors, and a technological incubator to promote Arab entrepreneurship.

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“Incorporating high-tech employees from the Arab sector is a highly important social, financial, and strategic need,” said Orit Farkash-Hacohen, Israel’s minister for innovation, science and technology.

In 2019, only one per cent of high-tech employees in Israel were from the Arab society, said a report published by the Bank of Israel.