The Israeli Innovation Authority is responsible for formulating national technology policies and fostering a startup ecosystem, and has appointed Drorbin as the new CEO to replace the retiring Ahalon Ahalon.
Officials said in a statement Monday that Bin would take office in the near future.
Bin, 54, has been President and CEO of RAD Data Communications, a global telecommunications network solutions company with hundreds of employees, since 2012. Headquartered in Tel Aviv, the company has a manufacturing center in Jerusalem, a development center in Beersheva, and dozens of corporate branches worldwide.
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Bin has also held various positions at telecommunications software company Comverse Technology and has been a venture partner with Israeli VC fund Carmel Ventures.
Bin holds two bachelor’s degrees from Technion-Israel Institute of Technology. One is Systems Information Engineering, the other is Industrial Management, and the other is an MBA from Tel Aviv University.
Israel’s technology sector accounts for almost 15% of GDP and almost 50% of industrial production and plays a vital role in the country’s economy. The role of the Israeli Innovation Authority is to manage and grow this ecosystem and provide grants and incentives to fledgling high-risk ideas and entrepreneurs. The aim is to tailor the incentive program to the changing needs of the market by fostering entrepreneurs, businesses and manufacturing processes and incentivizing academic research teams seeking to commercialize their discoveries.
Authorities also encourage international companies to work with local companies, help Israeli companies enter new international markets, and strive to innovate traditional old-fashioned industries.
The agency’s budget totaled 2.25 billion NIS ($ 649 million) in 2020, subsidizing approximately 1,600 innovation projects in all technical areas at all stages of product development.
Aharon, the retired CEO of the authorities, said he would hold the position for about four years and resign in August to explore new challenges.
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