A major initiative to launch entrepreneurs for Israel in the wake of the recent war in Gaza will begin on Wednesday.
The initiative, which is part of a broader initiative to support entrepreneurs and business development, is part the new “Entrepreneur for Israel” initiative, announced by Prime Minister Benjamin Netanyahu on Tuesday.
The government is expected to announce the launch of the initiative later on Wednesday, the official said.
The idea behind the initiative is to establish new entrepreneurship programs to help the small and medium-sized enterprises (SMEs) and small businesses to develop their products, services and brands.
The Prime Minister’s Office has allocated an initial amount of 3.5 billion shekels ($11.7 million), according to a statement by the Prime Minister Office.
The plan is to expand the initiative to all sectors, the statement said.
A spokeswoman for the Prime Minster’s Office said the initiative was not intended to help create jobs for Israeli entrepreneurs, but instead to “create new and viable opportunities for our citizens”.
“The initiative is intended to create a new and positive atmosphere in the country, which will be the beginning of a new era of entrepreneurship,” the spokeswoman said.
It is the first initiative launched by the government to help build businesses in the aftermath of the conflict.
Earlier this month, the government unveiled an initiative to establish incubators for startups.
The announcement was met with skepticism from some Jewish groups, who questioned the timing of the announcement.
“We have seen a great deal of interest in the Israeli entrepreneurs’ initiative in recent weeks, but in the last few weeks, there has been a very slow pace,” said Avi Regev, director of the Institute for National Security Studies at the Bar-Ilan University.
Some of the startups that will receive funds under the initiative will have a limited business incubation period.
In addition, the new initiative will focus on the creation of jobs, he said.
“This is a big opportunity for Israel’s startup sector.
But we cannot be too optimistic,” Regec said.
“This is the start of a much more complicated process.”
Prime Minister Benjamin Netanyahu, who chairs the ruling Likud party, said the creation and expansion of entrepreneurs for the country was part of his country’s future.
“There is a lot of work to be done,” he said during an event in Tel Aviv on Tuesday, adding that Israel will soon have an infrastructure for startups to begin.
“The Israeli entrepreneur will be a pillar of the future, and I am sure that the government will use this initiative to do its part to develop the entrepreneurial ecosystem in the Arab world,” he added.