The Ministry of Economy and Industry – Employment grants for high-earners
Companies hiring 15 or more new employees who receive a “high salary” (more than 2.5 times the average salary) are entitled to grants at an average rate of 20% of each employee’s salary, for four years. The grant is provided by the Ministry of Economy and Industry. Only companies located in “national priority” areas and Jerusalem are eligible for the benefit.
What is the benefit?
The grant offers partial funding of employee’s salaries for a duration of 24 months, and up to 30,000 NIS of the employee’s monthly salary.
For the first year (the first 12 months) – funding will be provided in the amount of 30% of the employees’ salaries.
For the second year (from the 13th month until the end of the 24th month) – funding will be provided in the amount of 20% of the employees’ salaries.
Who is eligible?
Corporations )excluding HR companies\ recruiting agencies), who work in one of the industries specified in the appendix to the regulation (Manufacturing, Information and Communications, Professional Services)
Government corporations in the free market, which are not budgeted or subsidized by a government institution.
The Investment Authority – R&D fund
The incentive program supports commercial companies currently developing new products or upgrading an existing technology. The program offers the largest financial incentive awarded by the State of Israel for Israeli corporations’ R&D activity and is offered to all sectors with the aim of strengthening and advancing the Israeli economy.
Who is the incentive program for?
Israeli corporations at different stages and from all industrial sectors – from startups to investment-intensive corporations engaged in technological innovation, interested in developing or upgrading existing products and technologies.
What do you get?
- Financial support of between 20%-50% of the approved R&D expenditure.
- Companies operating in Development Zones are eligible for 10% additional support, and those operating in the areas around the Gaza Strip are eligible for 25% additional support.
- Preferential funding terms for a startup corporation owned by minority population and/or UltraOrthodox and/or women entrepreneurs of amounts up to 75% funding in the first year and 70% in the second year.
For further information please enter the Israeli Innovation Authority website in Hebrew or English
