36% of income tax19.7% of GDP52.9% of Israeli exports6.1% of GDP R&D investment11.6% of Israeli workforce High-techHigh-tech: the main pillar of the Israeli economy FIGURE 8 Source: Israel Innovation Authority. (2024). 2024 Annual Report: The State of High-Tech. Israeli academia: fertile ground for talent and innovation Israel’s success in bioconvergence is driven by exceptional synergy between its academic institutions and high-tech industry. Leading universities – five of which rank among the top 50 globally for producing start-up founders66 – generate a constant stream of talent and breakthrough research. Robust research activities further support the vibrant academic-to-market pipeline. Approximately 500 new PhDs in bio- related fields graduate each year.67 Meanwhile, the Israel Central Bureau of Statistics (CBS) data for 2023 shows that 58.3% of post-doctoral research was conducted in the natural sciences – with 29.4% in biological sciences, 20.7% in physical sciences and 8.2% in mathematics, statistics and computer science.68 These figures underscore the country’s strong research foundation, which fuels translational innovations in biotechnology. Through comprehensive technology transfer frameworks and close collaborations between academia and industry, Israel not only cultivates groundbreaking discoveries but also rapidly transforms them into market-ready solutions. This action solidifies its global leadership in bioconvergence and other disruptive technologies. Technology-based economic engines may form ‘bottom-up’, nurtured by natural assets – but when multiple parameters are involved, this might require government assistance in a ‘top-down’ manner. Israel owns many assets in biology, engineering and computation but it is the National Bioconvergence Program that accelerates their synergistic combination, fills the gaps between them and facilitates the growth of a sustainable full-fledge economic engine. Shai Melcer, Head, National Bioconvergence Program, Israel Innovation Authority To position Israel as a global leader in bioconvergence, the government launched the National Bioconvergence Program, led by the Israel Innovation Authority. Designed by leaders from academia, healthcare, industry and venture capital, the programme was approved in 2022 with an initial NIS 435 million (Israeli shekels) budget, which equates to approximately $133 million. The programme executed by the National Infrastructure Forum for Research and Development (TELEM), focuses on research excellence, R&D infrastructure, human capital, facilitative regulation and multidisciplinary innovation. Priority fields include bioengineering devices, synthetic biology, “theranostics”, bioprinting and environmental microbiomes. With additional phases and private- sector matching, total investment is expected to reach NIS 2 billion (approximately $610 million) over 10 years. These strides will support both academic and industrial leadership in bioconvergence.2.3 Policy-driven innovation and strategic investments Pathways to Bioeconomy and Bioconvergence 20

Pathways to Bioeconomy and Bioconvergence Perspectives from Serbia and Israel 2025