10.5 Strategic planning to Improve Israel’s Bioeconomy
Israel’s Renewable Energy Strategy (Ashwarya, 2021)
Israel is committed to reducing its reliance on imported fossil fuels and advancing its renewable energy sector to align with environmental sustainability objectives. Solar energy has taken the lead in this effort, while wind and biomass technologies face challenges. Hydropower capacity is becoming crucial for grid stability. Israel aims to phase out fossil fuels from its energy mix by 2030, with ambitious targets for renewable energy. Although natural gas remains a dominant energy source, Israel’s diversified approach and expanded capacity in renewables will play a vital role in addressing climate change and ensuring a more sustainable energy future.
Making Israel a Global Leader in Bio-Convergence in the Upcoming Ten Years
The Israeli Innovation Authority recognizes the significant potential of bio-convergence as a driving force for growth in Israel’s high-tech sector. This emerging industry offers opportunities to boost the Israeli economy, create high-quality jobs, and serve as a catalyst for innovation in healthcare. Israel’s strong technological foundation, expertise in various fields, and the ability to integrate them seamlessly position the country as a potential global leader in bio-convergence. International pharmaceutical companies are increasingly looking to Israel due to its prowess in digital technologies. To support the bio-convergence sector, the Israeli Innovation Authority collaborates with various stakeholders, promoting multidisciplinary research, translational programs, startup creation, workforce training, and capital financing mechanisms. These efforts aim to nurture the growth of bio-convergence enterprises and make Israel a prominent player in this field, overcoming regulatory, clinical, and financial challenges. Additionally, global collaborations and foreign investments are actively encouraged to further advance bio-convergence research and development in Israel.