Israel launches $70.8 mn programme to boost hi-tech in Arab sector

Jerusalem, Jan 27 (IANS) Israel has launched a 225-million-shekel ($70.8 million) programme to boost high-tech developments in the Arab sector in the country.

The five-year plan, announced by the Israel Innovation Authority (IIA) and the Ministry for Social Equality, on Wednesday, is set to encourage entrepreneurship and hi-tech employment in the Arab communities, Xinhua news agency reported.

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

"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 percent of high-tech employees in Israel were from the Arab society, said a report published by the Bank of Israel.