For the first time in the history of Israel, the Israeli Government issued a government-sponsored tender for the management and co-funding of a social business investment fund: Yozma Fund.
The tender is a joint effort between the National Insurance Institute, the Finance Ministry and the National Economic Council. In March 2015, IVN was awarded the tender to establish and operate a Yozma Fund, investing in and supporting social businesses. This government initiative is a significant milestone in the evolution of Israel’s social business sector. This pioneering step is in great part a result of the vision and hard work by IVN and its partners over the last three years.
The Fund’s Social Mission is to create an opportunity for sustainable social change by investing in and mentoring social businesses that focus on vocational training and employment for:
- Youth-at- risk
- People with special needs
- Recovering addicts
- Released convicts
- Chronically unemployed
- Single parents
IVN has established and is managing a fund of NIS 23.5 million that will invest in 15-20 social businesses over the coming years. What makes this fund so unique is that it brings both government, business and philanthropic funds to the table, all in support Israel’s emerging social business sector.
This government initiative is a significant milestone in the evolution of Israel’s social business sector. This pioneering step is in great part a result of the vision and hard work by IVN and its partners over the last three years.
Yozma Fund Board of Directors:
- Benny Levin
- Itsik Danziger
- Brenda Morginstin
- Ruthie Simcha
- Claudio Yarza
- Uri Leventer-Roberts, Federation of New York
- Avi Amidor, Public representative
Be a part of this new, pioneering fund that will significantly contribute to the narrowing of Israel’s major social gaps. You will be partnering not only with the Government of Israel and IVN, but also with leaders in both the social and business worlds in Israel and the Jewish community worldwide.