Photo: Ram Shadmon – Courtesy of the Ministry of Agriculture and Rural Development
The government today (Sunday) approved a historic decision in the field of climate innovation, amounting to approximately NIS 3 billion by 2026.
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The main points of the decision are the acceleration of the ecosystem innovation in climate technologies (climate-tech) in Israel and the mobilization of those technologies to help meet Israel’s goals around the climate crisis. This is based on the relative advantages of Israeli technological innovation, and with the help of creating relative advantages in the business-regulatory environment in Israel.
The decision was later approved by the staff of the Ministry of Energy, Karin Elharar, Minister of Environmental Protection Tamar Zandberg, Minister of Science and Technology Innovation Orit Farkash HaCohen, and the inter-ministerial team established on the subject.
The decision is based on a detailed report led by an inter-ministerial team led by the director general of the Ministry of Environmental Protection Galit Cohen, the director general of the Ministry of Energy Lior Shilat, and the director general of the Innovation Authority Dror Bin.
The government decision will include significant quantitative targets to encourage climate innovation, including:
• Doubling the number of applied studies in the field of climate tech; Doubling the number of patents in the field
• Doubling the number of new start-ups established each year from 55 to 110 in 2026
• Increasing the number of pilot projects carried out on state infrastructure per year from 35 to 70 in 2026
• Increasing the number of significant fundraisers per year (more than $ 10 million) from 20 in 2021 to 50 in 2026
• Establishment of 10 Israeli venture capital funds specializing in climate technologies by 2026 (compared to 1 today)
• Doubling the number of foreign venture capital funds active in Israel that specialize in climate technologies (will make at least one transaction on average per year) from 20 in 2021 to 40 in 2026
In the steps included in the government decision:
• Promotion and funding of applied research in the field of climate
• Diplomatic moves to promote joint research on climate innovation
• Financing and promotion of start-up companies in the fields of climate-tech
• Establishment of a community of researchers in the field
• Use of satellites to monitor climate change and environmental hazards and for decision-making and applied research purposes
• Establishment of a technological incubator to promote climate technology projects
• Pilot Fund to finance the experimentation and assimilation of climate technologies in Israel
• Establishment of a monitoring and control team that will publish an annual report that will report to the public on government progress
Minister of Innovation, Science and Technology, Orit Farkash HaCohen: “The way to deal with the climate challenges and meet the goals set by the government is through the use of technology and the harnessing of innovation and Israeli high-tech. The focus of Israeli high-tech today is in areas such as communications services, fintech, and cyber and less in the areas of climate, agrotech and energy. The government decision will strengthen these areas. The goals I set for today in the government decision are ambitious and include, for example: doubling the number of start-up companies operating in the climate field in Israel of 10 Israeli venture capital funds specializing in the climate, by 2026 (compared to only one currently operating) and doubling the number of venture capital funds Foreigners who specialize in the climate from 20 today to 40 until 2026. Thank you to the Prime Minister and Minister Zandberg and Elharar for the partnership. “
Minister of Environmental Protection, Tamar Zandberg: “The climate crisis is the most significant risk facing humanity. At the same time, it is also a tremendous opportunity for the current generation to produce the solutions to deal with it, also for future generations. “Israel, as a start-up and innovation nation, can be a key anchor for meeting global climate challenges, and the government’s decision and the actions we promote in the field are a significant step on the way to creating a thriving, blue-and-white technology industry.”
Karin Elharar, Energy Minister“We in the Ministry of Energy, together with our partners in the government, understand that the way to meet the challenging goals of the energy economy is through innovative technology. While it is estimated that about 45% of the technologies implemented in 2050 have not yet been invented The technology to meet the targets by 2030 is already here and only by collaborating between ministries of the various regulators and creating platforms that enable the adoption of innovation, we will meet the target. In the amount of more than NIS 100 million, including the promotion of energy storage facilities, green hydrogen, energy production through dual use and the reduction of the environmental impact of energy infrastructure. In the fields of energy and climate. “
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