Israel Innovation Authority approves $43 million budget for 62 programs to train high-tech employees
The programs, which operate from two funds, will train a total of 9,000 people and are committed to placing 80% of graduates in sectors like R&D, support positions, and the Israeli industry as a whole
The Israel Innovation Authority (IIA) has launched two new programs, the Human Capital Fund and the Emergency Training Program, to help unemployed citizens interested in entering the Israeli tech ecosystem. The programs, which were launched at the peak of the ongoing Covid-19 pandemic, are aimed at strengthening human capital during times of national crises while also helping job seekers.
In total, the IIA will contribute NIS 139 million ($43 million) to both programs, which saw more than 180 applications. The chosen 62 organizations will help train and place a total of 9,000 citizens into positions that have become recently available in the high-tech sector. According to research by the Aaron Institute for Economic Policy, the fallout from Covid-19 resulted in 57,000 unemployed Israelis who have the suitable potential for integration in Israel’s high-tech scene.
Minister of Finance, Israel Katz called it “an effective and focused solution to increased unemployment,” whereas Amir Peretz, Israel's Minister of Economy and Industry added that “inclusive employment will strengthen Israeli industry and society as a whole.”
The Human Capital for High-Tech Fund will oversee the remaining $6 million and 17 organizations to help train and place 3,000 positions over two years, with an emphasis on integrating underrepresented groups, residents of the periphery, new immigrants, returning residents, and more. The first Call for Proposals defined several areas of priority: identifying potential, career counseling, On-the-Job Training (OJT), internships, or placement plans.