• The Israeli Government has identified food tech, with a focus on alternative proteins, as one of its five national priorities for significant investment over the next five years, due to its importance at a time of climate and global food crises.

• The list (which also included renewable energies and energy storage, bio-convergence, space tech, and blue tech) guides national government funding for civilian R&D ventures, giving priority to the top five areas.

• The food tech sector will now benefit from the Ministry of Innovation and Science’s annual allocation of NIS 180 million (~USD 52 million) for research grants and national plans.

<ul><li> Analyst QuickTake: Israel is a leading food tech innovator with many startups, investments, and developments in the industry. The country is at the forefront of the alternative meat industry, competing closely with the US, and this announcement further demonstrates its commitment to sustainable food. Israel’s alternative protein sector (which also includes cell-cultured meat) is well funded, recording some of the biggest funding rounds (e.g., Redefine Meat ), and reported a 160% YoY growth in funding in H1 2022, according to Good Food Institute Israel.</ul>