Rashut HaHadashot, also known as the Israeli Innovation Authority, is an independent statutory body established in 2016 aimed at promoting innovation as a driver of sustainable economic growth in Israel. Building on decades of historical support for R&D, the Authority's mission is to enhance Israel's technological leadership and entrepreneurial culture, thereby improving the economic value generated for the Israeli economy. The Authority provides a diverse range of support programs including funding, advisory services, and innovative infrastructure to assist high-tech startups and established companies.

Key divisions within the Authority focus on various aspects of innovation: the Startup Division fosters seed-stage startups, the Growth Division supports scaling enterprises, and the International Division enhances Israel's engagement in global innovation initiatives. Rashut HaHadashot actively collaborates with governmental bodies and international organizations to stay at the forefront of global technological advancements, ensuring that the Israeli economy remains a competitive force in the innovation landscape. Through strategic policies and tailored support, the Authority is committed to meeting the evolving needs of its clients across the industrial spectrum