JERUSALEM, Jan. 26 (Xinhua) -- Israel on Wednesday launched a 225-million-shekel (70.8 million U.S. dollars) program to boost high-tech developments in the Arab sector in the country.
The five-year plan, announced by the Israel Innovation Authority (IIA) and the Ministry for Social Equality, is set to encourage entrepreneurship and hi-tech employment in the Arab communities.
The program includes the setup of entrepreneurship centers, technological accelerators to advance new ideas, angel clubs to recruit investors, and a technological incubator to promote Arab entrepreneurship.
"Incorporating high-tech employees from the Arab sector is a highly important social, financial, and strategic need," said Orit Farkash-Hacohen, Israel's minister for innovation, science and technology.
In 2019, only 1 percent of high-tech employees in Israel are from the Arab society, said a report published by the Bank of Israel.