JERUSALEM, Feb. 6 (Xinhua) -- Israel launched a new program to support technology start-up companies established and managed by women, the Israel Innovation Authority announced on Wednesday.
One of the main goals of the program is to double the number of female entrepreneurs supported by the Innovation Authority within two years.
Technological projects led by women in Israel stands at only 8 percent of all technological initiatives.
In addition, the percentage of women's new projects submitted to the Innovation Authority during 2017-2018 stands at about 10 percent of the total number of applications in the start-up track.
The new program is designed to reduce gender inequality and increase the number of women in the entrepreneurial ecosystem.
Support will be granted to new technology companies with at least 33-percent ownership by a woman. Another condition is that she must have a senior technological position in the company.
The grant for each company could reach a maximum of 2.5 million new shekels (691,388 U.S. dollars) in the first year, and 4.5 million new shekels in the second year.
As part of the program, the Innovation Authority will also provide women dedicated exposure and guidance on several tracks, with a focused effort to bring them to the fullest of the support tools available.