(MENAFN) Israel Innovation Authority (IIA) sources unveiled a new pilot program to have commenced this week, seeking to promote technological innovation through executing innovative technologies in government-owned companies.
The IIA was revealed to have initiated the program with Israel's Government Companies Authority in the Ministry of Finance, with USD2.8 million of investments from the Israeli government.
Sources explained the objective behind the program to be improving and testing technologies and innovative solutions within relevant government companies, or utilizing data or information of which government firms hold.
Israeli Minister of Finance Moshe Kahlon stated "the program offers one more incentive for government companies to enter the digital age.
The minister added "together with existing innovation frameworks, this will enable governmental companies to improve performance and offer greater access and better service to the public."