The Israel Innovation Authority has introduced an Innovation Visa to encourage entrepreneurs from all over the world set up shop in the Middle Eastern country.
The visa holders will be given access to support initiatives, which was earlier available only to Israelis.
Geektime says that successful entrepreneurs would be allotted a ‘support entity’ to provide them direction and other inputs, including access to venture capitalists, industry captains and attractive business partnerships.
Holders of this visa will also be eligible to apply for the Tnufa, the early stage startup programme.
If they are found eligible, they can avail 85 percent of approved expenses of up to $50,000 for services such as drafting a business plan, registering a patent and prototyping.
Entrepreneurs can also apply to extend their visa if they wish to stay permanently in the Holy Land even after it has expired.
If their long-term objectives are reasonably important, they would be eligible to apply for the Expert Visa, which would give them total access to the innovation authorities programmes.
Anya Eldan, Head of the Startup Division, told the website that this programme was devised to help entrepreneurs improve their businesses taking suggestions from Israel’s best innovators. It would also facilitate overseas entrepreneurs an opportunity to give back to the businesses that have helped them.