The Israel Innovation Authority, in charge of setting out the nation’s tech policies and fostering the startup ecosystem, has appointed Dror Bin as its new CEO, to replace the outgoing Aharon Aharon.
Bin will take up post in the near future, the authority said in a statement on Monday.
Bin, 54, has served since 2012 as president and CEO of RAD Data Communications, a global telecom network solutions company with hundreds of employees. The company has its headquarters in Tel Aviv, a manufacturing center in Jerusalem and a development center in Beersheba, as well as dozens of corporate branches around the world.
Bin has also held a variety of positions at communications software firm Comverse Technology and has been a venture partner at Israeli VC fund Carmel Ventures.
Bin holds two bachelor’s degrees from the Technion – Israel Institute of Technology, one in systems information engineering and the other in industrial management, and an MBA from Tel Aviv University.
The Israeli tech sector plays a pivotal role in the nation’s economy, accounting for almost 15% of GDP and nearly 50% of industrial manufacturing. The role of the Israel Innovation Authority is to manage and grow this ecosystem, providing grants and incentives to fledgling and high-risk ideas and entrepreneurs. The aim is to tailor the incentive programs to the changing needs of the market by fostering entrepreneurs, companies and manufacturing processes and incentivizing academic research teams seeking to commercialize their discoveries.
The authority also encourages international corporations to collaborate with local companies, helps Israeli companies to break into new international markets, and strives to bring innovation to traditional, old-school industries.
The authority’s budget totaled NIS 2.25 billion ($694 million) in 2020 and it provided grants to about 1,600 innovation projects in all technological fields at all stages of product development.