Israel Innovation Authority Launches Billion-Shekel Program for Dollar-Depreciated Startups

The Israel Innovation Authority has launched a NIS 1 billion fast-track program to support startups affected by the depreciation of the US dollar against the Israeli shekel.

The program, which will provide grants and matching funding, is designed to help companies with less than 12 months' runway extend their operational period by six months.

The rapid appreciation of the shekel has had a significant impact on startups that raise capital in US dollars, shortening their operational runway and increasing the amount of capital they need to raise in future rounds.