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Innovation Authority launches NIS 1 billion solution for companies hit by shekel-dollar crisis

The Israel Innovation Authority has introduced a NIS 1 billion funding program to support startups hit by the shekel's rapid appreciation against the dollar. The program covers 33%–50% of expenses for six months for eligible companies. The move follows a sharp rise in the shekel, which cut into the dollar-denominated revenues of Israeli high-tech firms.

By Tertius News AI Desk 1 outlet · 2 articles Version 1 Coverage Jul 26 – Aug 5, 2026 Published Aug 14

Lead

The Israel Innovation Authority launched on Sunday a NIS 1 billion funding program for startups affected by the current strengthening of the shekel against the dollar in the currency exchange market, as reported by the Jerusalem Post.

The fund aims to provide a financial hand for technology startups and early-stage projects whose runway—capital available to operate the company before closing—has been shortened due to the rapid appreciation of the shekel against the dollar.

Coverage Comparison

Two Jerusalem Post articles covered the story from distinct angles. The first focused on the government response, detailing the Innovation Authority's new program. The second examined the broader economic context, explaining how the shekel's strength has squeezed Israeli high-tech companies whose revenues are denominated in dollars. Both articles agree on the root cause: the shekel's rapid appreciation against the dollar.

The first article, published July 26, emphasized the program's mechanics and official statements. The second, published August 5, provided a deeper analysis of the shekel's impact, including its effects on companies like Wix.

Key Claims

According to the Jerusalem Post, the shekel's rise to levels not seen in decades was interpreted by the markets as a vote of confidence in the Israeli economy. However, for the economy's strongest sector, that same sign of strength sounds more like an alarm bell. Over the course of a year, the dollar lost more than 20 percent of its value against the shekel, falling in June to around NIS 2.8, the lowest exchange rate since 1993.

Israeli high-tech companies sell primarily outside Israel, and their revenues are denominated in dollars. Investments in Israeli start-ups are also made in the US currency, while most of their expenses are paid in shekels. The report illustrates the impact: a company that raised $100 million could, a year ago, use that money to cover salaries and expenses of up to NIS 360 million. Today, it is left with only NIS 300 million—a loss of nearly one-fifth of its shekel-denominated income.

The Innovation Authority's Program

Under the new program, companies will be able to apply to a fund that would cover between 33% and 50% of the required expenses for six months of operational activities, while the rest must be matched through additional financing, as reported by the Jerusalem Post. Options for obtaining additional funds include fundraising rounds, a Simple Agreement for Future Equity (SAFE), a loan, new revenue, or similar sources.

Companies that access this funding will need to have less than 12 months of runway and will be able to apply for a maximum of six extra months of runway in order to keep investing in development, research, or growth plan execution. According to the authority, the fund will be provided as grants through an “accelerated application review and approval process” to offer rapid solutions to affected startups.

Dror Bin, CEO of the Israel Innovation Authority, said: “The new program is designed to provide high-potential companies with the time and certainty they need to continue growing, achieve important technological and business milestones, and enter their next funding round, or continue executing their business plans, from a stronger position.”

Innovation, Science and Technology Minister Gila Gamliel added: “Israeli high-tech is far more than an economic growth engine; it is a reflection of the entrepreneurial spirit, creativity, and resilience of Israeli society. Our policy is to provide certainty, foster innovation, and give high-potential companies the tools to grow and succeed.”

Broader Context

The Jerusalem Post report also noted that the government approved an assistance package for the technology sector, focused on start-ups, worth approximately NIS 1.6 billion. This followed the announcement by Wix, a prominent Israeli tech company, that it would dismiss 1,000 employees, about 20 percent of its workforce, due to the strong shekel.

The article explained that the strong shekel has made imports cheaper for the general public, but for technology companies, the calculation works in reverse. The report used Wix as an example of the growing pressure, noting that the company has faced both currency headwinds and the emergence of new technologies that may render its core service less essential.

Perspectives

Israel Innovation Authority: The authority views the program as a necessary intervention to provide high-potential companies with the time and certainty they need to continue growing and achieve milestones.
Israeli Government (Minister Gila Gamliel): The government frames the initiative as part of a broader policy to provide certainty and foster innovation, reflecting the country's entrepreneurial spirit and resilience.
Industry observers (via Jerusalem Post analysis): The strong shekel is seen as a double-edged sword—a vote of confidence in the economy that nonetheless cuts into the dollar-denominated revenues of export-oriented high-tech firms.

How this outlet told it

Jerusalem Post as of Aug 5, 2026, 3:30 PM UTC

Framing: The strong shekel's impact on the Israeli economy — Informative, with a hint of concern

Facts Included:

The shekel's rise to levels not seen in decades
The dollar lost more than 20 percent of its value against the shekel
Israeli high-tech companies sell primarily outside Israel, and their revenues are denominated in dollars
Wix announced that it would dismiss 1,000 employees, about 20 percent of its workforce
The government approved an assistance package for the technology sector, focused on start-ups, worth approximately NIS 1.6 billion

Read the source article →

Jerusalem Post as of Jul 26, 2026, 9:31 AM UTC

Framing: Government support for startups affected by the strong shekel — Informative, with a focus on government support

Facts Included:

The Israel Innovation Authority launched a NIS 1 billion funding program for startups
Companies will be able to apply to a fund that would cover between 33% and 50% of the required expenses for six months of operational activities
The program aims to help companies in their development stage, with eligible companies having annual expenses of at least NIS 1.5 million but no more than NIS 100 million

Read the source article →

What was claimed, and who backed it

Each row is one claim, attributed to the outlet whose wording states it most clearly. Confidence rates how directly the source text states the claim — explicit and unhedged rates high; hedged, pieced-together, or internally inconsistent statements rate lower. It does not measure whether the claim is true. Status counts the distinct outlets we found asserting it — so a single-source claim can still show high confidence, and a multi-source claim can show medium. Every one of those outlets is named beside the status, so you can check the count against the list. For claims extracted before we began storing that list, the row says so: it names the outlet the claim is quoted from and states that we have not recorded which outlets backed it. Outlets wrote at different times, so a figure that evolves — a casualty count, for example — can legitimately differ between rows; check the "as of" time next to each claim's source.

Claim	Confidence	Status
ClaimThe shekel's rise to levels not seen in decades was interpreted by the markets as a vote of confidence in the Israeli economy.	ConfidenceHigh	StatusSingle-source via Jerusalem Post as of Aug 5, 2026, 3:30 PM UTC
ClaimThe dollar lost more than 20 percent of its value against the shekel over the course of a year.	ConfidenceHigh	StatusSingle-source via Jerusalem Post as of Aug 5, 2026, 3:30 PM UTC
ClaimIsraeli high-tech companies sell primarily outside Israel, and their revenues are denominated in dollars.	ConfidenceHigh	StatusSingle-source via Jerusalem Post as of Aug 5, 2026, 3:30 PM UTC
ClaimWix announced that it would dismiss 1,000 employees, about 20 percent of its workforce, due to the strong shekel.	ConfidenceHigh	StatusSingle-source via Jerusalem Post as of Aug 5, 2026, 3:30 PM UTC
ClaimThe government approved an assistance package for the technology sector, focused on start-ups, worth approximately NIS 1.6 billion.	ConfidenceHigh	StatusSingle-source via Jerusalem Post as of Aug 5, 2026, 3:30 PM UTC
ClaimThe Israel Innovation Authority launched a NIS 1 billion funding program for startups affected by the current strengthening of the shekel against the dollar.	ConfidenceHigh	StatusSingle-source via Jerusalem Post as of Jul 26, 2026, 9:31 AM UTC
ClaimCompanies will be able to apply to a fund that would cover between 33% and 50% of the required expenses for six months of operational activities.	ConfidenceHigh	StatusSingle-source via Jerusalem Post as of Jul 26, 2026, 9:31 AM UTC
ClaimThe program aims to help companies in their development stage, with eligible companies having annual expenses of at least NIS 1.5 million but no more than NIS 100 million.	ConfidenceHigh	StatusSingle-source via Jerusalem Post as of Jul 26, 2026, 9:31 AM UTC

Transparency & Audit Trail

1 outlet · 2 articles consulted: Jerusalem Post 8 claims extracted Version 1 Written 2026-08-14