In Israel, the world’s largest solar parabolic dish at the Ben-Gurion National Solar Energy Centre. (Illustrative photo.) Credit: David Shankbone via Wikimedia Commons.

According to the report, Israel’s high-tech industry is experiencing “unprecedented success.” Yet at the same time, the Israeli economy risks grinding to a halt, and the so-called “start-up nation” is in danger of losing its coveted status as one of the world’s foremost high-tech innovators.

With this in mind, the Innovation Authority aims to boost Israel’s current 270,000 high-tech employees to more than half a million.

Israel is currently ranked first in the world in research and development (R&D) and venture capital investments as a percentage of gross domestic product, with more than 600 new start-up companies being founded in the country every year. The Jewish state is also home to more than 300 R&D centers belonging to tech giants such as Facebook, Microsoft, Intel, Google, IBM and Apple. Israel is also ranked second on the World Economic Forum’s innovation index.

To boost high-tech employment, the Innovation Authority suggested further integrating certain sectors of Israeli society into the high-tech arena—namely, groups that are underrepresented in the field, including haredi Jews, Arabs and women.

The report also outlined methods for assisting local start-ups with growing into larger companies.

JNS.org