Technion Awarded $2.7 Million Government Grant to Launch New Innovation Center

The Technion, received a NIS 10 million (approximately $2.7 million) grant from Israel’s Council for Higher Education (CHE) to establish an entrepreneurship and innovation center, the university announced Thursday.

Founded in 1924, the Technion is an engineering and science university located in the northern city of Haifa. In the annual Academic Ranking of World Universities (ARWU), also known as the Shanghai Ranking, published in August, the Technion ranked 77th in the world.

Last week, the Hebrew University of Jerusalem, along with the Bezalel Academy of Design received a combined grant of NIS 20 million (approximately $5.4 million) from the council for the same purpose.