Jerusalem - Israel’s government said on Wednesday it would invest 30 million shekels ($8.4 million) a year on a pilot program aimed at improving transportation and developing the country’s high-tech industry.

The program looks to promote companies that will impact the state of transportation in Israel and globally, the Israel Innovation Authority said in a statement.

The authority is working together with the Transportation Ministry and prime minister’s office on the initiative.

The program is intended for Israeli tech companies in the field of transportation. They will receive financial support of 20 to 50 percent for approved research and development expenses – ...read more at Reuters