Israel Plans to Invest $880 Million in Climate Technology Innovation

Published on: 27 June 2022
by KnowESG

The Israeli Ministry of Environmental Protection said yesterday that the country would invest 3 billion shekels (about USD 880 million) in climate technology innovation.

According to the government, the decision aims to accelerate innovation in Israel's climate tech ecosystem to help Israel's efforts to address the climate challenge.

By 2026, the decision's stated quantitative aims to encourage climate innovation are anticipated to be accomplished.

These objectives include doubling the number of climate tech applied studies, patents, startup companies, and pilot projects conducted on state infrastructure, increasing the number of fundraising deals and Israeli venture capital funds specialising in climate technologies, and promoting international collaborative research.

According to the ministry, the plan also involves the use of satellites to monitor climate change and environmental threats, as well as the construction of a technology incubator to promote innovations.

Source: The Star

For more technological news