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National Priority A Area, Yokneam boasts increased amounts of grants and funding available via the Israeli Innovation Authority. The Authority, financially supports entrepreneurs and startups, with a wide variety of initiatives aimed at creating successful startup ecosystems across Israel.
Companies in Yokneam are eligible for major tax benefits and investment grants of up to 20%, as well as different R&D Grant programs.
Global Enterprise R&D Collaboration Framework is a program that aims to encourage partnerships between multinational corporations (MNC) and startup companies in Israel, in order to maximize the synergy between the partners’ strengths.
Israel has 4 bi-national funds with the U.S.A, Canada, Korea and Singapore.
Innovation Visas Program for Foreign Entrepreneurs assists foreign entrepreneurs with the visa process.
Under the Israeli Law for the Encouragement of Capital Investment, approved enterprises in Yokneam Illit enjoy the highest level of tax benefits and investment grants (currently up to 20% of the investment or 10 year tax exemption).
Israel participates actively in several multinational European R&D programs such as: Eco-Innovera, FetFlagships EraNets, M-ERA. NET, MANUNET II, ERA-NET TRANSPORT III, Era-Net RUS, ENIAC, Ambient Assisted Living (AAL), EUROSTARS.
Startup Village Yokneam is Israel’s Alternative High Tech Ecosystem with nearly 150 different companies involved in R&D and roughly USD 7 billion in technology exports annually.
Mevo Carmel is a new 250-acre Jewish-Arab industrial park.
The park is expected to attract logistics and production facilities that will serve as an extension to the Startup Village - Yokneam startup ecosystem.
Three startup incubators (Alon MedTech Ventures, TerraLab Ventures, Youdim Pharmaceuticals) and three banks (Bank Leumi, Bank Hapoalim, First International Bank of Israel) are located in Yokneam.
Poalim Hi-Tech makes funding more accessible to companies in the Startup Village area. Israel’s largest bank placed its high-tech investment center for northern Israel in its Yokneam branch. Poalim Hi-Tech offers specialized financial services, tailored to meet the unique needs of the Israeli High-Tech sector: start-ups to established tech companies, Incubators, Accelerators and Venture Capital Funds.
Alon MedTech Ventures is active in the initiation and growth of young high-tech companies with a focus on medical devices.
Terralab Ventures is an early stage venture capital firm dedicated to partnering with inspiring entrepreneurs to build breakthrough companies.
Youdim Pharmaceuticals is an innovative pharmaceutical company and incubator that specializes in the development of therapeutic and diagnostic solutions for neurological disorders and cancer.
In addition to local investment channels, VCs from outside the area have been investing in the companies located in Yokneam. These include: BRM Group, Byren Ventures, Gemini Israel Ventures, Israel Growth Partners (IGP), Israel HealthCare Ventures (IHCV), JAL Ventures, Pitango, Previz Ventures, Proseed Venture Capital Fund, Sequoia Capital, Tamar Ventures, Teuza, Thomas, McNerney & Partners, Vintage Investment Partners, Viola Group, 2BAngels, AfterDox, Liberty Global, PLUS Ventures, Conduit, SkyWind.
Yokneam’s proximity to two major universities Technion and the University of Haifa and its location at the crossroads between northern Israel and the major urban areas of Tel-Aviv and Jerusalem are certainly some of the reasons why this city developed so much in recent years. The tax benefits and investment grants associated with its status as a “National Priority Area A” and the lower cost of housing all worked together to attract Israel’s highest concentration of R&D companies outside of Tel-Aviv and give it the nickname of Startup Village.
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