For the first time in Israel: the Ministry of Economy and Industry, through the Investment Authority and the Strategy Division, promotes a solution to a significant challenge in the field of startups known as the "valley of death" - the transition phase from technological development to product production and marketing.
The office will assist entrepreneurs in setting up a center that will serve as an infrastructure for the production of innovative products in the field of food tech.
In this way, it will provide a response to any startup in the field that is in the micro-industry stage and that needs to produce initial and experimental products, before moving to the establishment of a factory.
Registration ends today for the call for proposals published by the Ministry of Economy to find the entrepreneur who will launch the production center and receive a budget grant of approximately NIS 27 million.
The total investment can reach about NIS 100 million, and the construction time can last between three and five years.
From a study by the strategy and policy planning division of the ministry, it appears that there are barriers that prevent the start-up development process (tests, model production, approvals, etc.), and its arrival at the end of the process to establish factories in Israel.
One of the significant barriers is the lack of a production infrastructure supporting the innovative ventures in the food industry, which will provide primary industrial production services to the entrepreneurs.
As a result, in many cases startups in the field of food tech are sold to international companies.
News for the food industry
Shlomo Atias, director of the Investment Authority: "Creating the right ecosystem, investing in more innovative initiatives and establishing advanced production infrastructures will strengthen the food industry, Kiryat Shmona - and especially the Israeli economy."
Michal Fink, Deputy Director of Strategy and Policy Planning at the Ministry of Economy and Industry: "The new grant is another step in realizing the multi-year plan for Kiryat Shmona and the Galilee, and part of the food-tech complex that will be established in Kiryat Shmona."
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