Finance Minister Bezalel Smotrich unveiled a NIS 1.6 billion ($537 million) support package aimed at helping Israeli tech companies and startups cope with the shekel's rapid appreciation against the dollar, The Times of Israel reported. "We now understand the great challenge facing Israeli high-tech, which is a combination of the AI revolution, coupled with the vast appreciation of the shekel," Smotrich said in presenting the plan.
The bulk of the funding, NIS 1 billion, will flow to growth-stage technology ventures through the Israel Innovation Authority's fast-track program. The remainder is split between NIS 175 million for advanced manufacturing equipment, NIS 25 million for export promotion and NIS 10 million for vocational training, alongside tax-incentive expansions estimated to cost the treasury roughly NIS 360 million.
Industry groups gave the package a mixed reception. Karin Mayer Rubinstein, CEO of the Israel Advanced Technology Industries Association, argued that companies need immediate operational relief rather than growth-stage incentives, calling for cash-flow assistance mechanisms similar to what other countries have rolled out during past economic shocks.