Isra-Tech | april 2023

M ore than 6 , 000 companies constitute the vibrant startup scene of Israel. One field that has been gaining special momentum recently in the Start up Nation is Climate-tech, with over 700 startups. According to PLANETech's "Israel’s State of Climate-Tech 2022 " report, over 300 climate-tech start ups were founded in the past five years, andmore than $ 5 . 5 B has been invested in Israeli companies in the field since 2019 . The need for solutions to tackle the climate change and its ramifications is clear and pressing yet developing innovation in the field of climate and energy is different and more complex than in some other sectors, for a combination of reasons. First, while the awareness of the climate crisis has been increasing recently, the challenges in this field are still less known among entrepreneurs and technological investors. Second, interdisciplinary mastery is required to develop technologies in the field, which often involve beside software, development of hardware, complex regulation, and cross-sector cooperation. Third, considering this complexity, commercialization requires more time and greater financial investment from developments that are solely software-based. This makes climate-tech somewhat less attractive for investors and accordingly, more challenging for entrepreneurs, especially in the current economic atmosphere. Anothermain reason is the lackof support andaccelerators that can help early-stage entrepreneurs with crossing the chasm and fight climate change. This is why Poalim Impact unit at Bank Hapoalim, which is one of the leading banks in Israel, has decided to partner with Doral Group and the 8200 Alumni Association to support climate-tech startups in the beginning of their journey through the 8200 Impact acceleration program. 8200 Impact is the first acceleration program and community for Israeli impact-tech startups, that tackle significant social or environmental challenges through advanced technology, for the benefit of society and economy, locally and globally. The accelerator was founded in 2013 to harness the human capital of the 8200 elite IDF signal intelligence and cybersecurity unit alumni for the greater good. Therefore, any Israeli impact entrepreneur in the stage of seed or pre-seed funding can apply to the program, regardless of their background. The program will conclude its 8 th cycle in April 2023 with 12 promising ventures and has more than 84 graduate start ups with 60 per cent of continuity rates. Following a rigorous screening process, 10 - 12 startups are selected with the help of experts from Bank Hapoalim, Doral and additional program partners. The program operates three main tracks: Accessibility, Health, and Climate & Energy-tech. The selected startups take part in a 5 -month acceleration program filledwithworkshops andmeetings with successful entrepreneurs, top-tier professionals, and investors, alongside a tailor- made mentorship process with leading industry experts. As a non-profit organization, the program does not take equity nor claim ownership of our ventures' IP. The Climate and Energy-tech Track "Accelerating the transition to a low-carbon economy to deal with the climate crisis requires above all - technological innovation. Bank Hapoalim is the financial institution that provides the largest funding in Israel for ventures that promote a green environment and was also the first in Israel to issue a green bond. We also support the ecosystem and provide tailored banking services as well as credit facilitation for startups and tech companies focused on climate tech through Poalim Hi-Tech," says Ms. Sharon Alaluf, Head of ESG at Bank Hapoalim. "We are proud to be the initiators and partners, Bank Hapoalim in partnership with Doral Group, supports Israeli climate-tech startups | 8200 Alumni Association | Planning for a Greener Future 14 Climate Tech Isra-Tech Israeli Technologies Magazine April 2023 Acceleration Program