Since it was founded in 2014, Israel Tech Challenge (ITC) has been focusing on investing in talented professionals from Israel and abroad who want to develop their careers in technology and learn the most in-demand tech skills. Our business model is based on sourcing and screening the best, to become even better.
Although the demand for talented developers is on the rise, we realized throughout the years that strong candidates often face financial barriers when considering to join ITC, linked to both tuition costs and living expenses during the courses. We understood to what extent finances could be significant a burden, and decided to do something to bridge the gap between talent and opportunities.
ITC already offers a wide range of scholarships (Excellence, Masa, new immigrants and women scholarships) and different payment methods are available. However, we’ve been working on a sustainable solution that will revolutionize our candidates’ approach to training.
We’re ready to invest in you. Are you?
To eliminate financial barriers, students can now take our courses with a new funding method based on an Income Shared Agreement (ISA). What this means is that students can start the training without paying tuition up-front, and only pay the tuition back once they are hired – as a fixed percentage of their income after graduating, for a limited period of time, and only if they reach a defined income threshold.
I am proud to announce that we are the first Israeli organization to bring the ISA model to Israel in efforts to make tech training more accessible to talented young professionals, no matter their social background. This is a first-of-its-kind agreement and a pivotal moment in education in Israel.
This model is aligned with all our stakeholders’ interests. For our investors, it is their Return on Investment; for ITC, it is our excellence and diversity; and for our students, it is launching meaningful and rewarding careers in the Israeli tech.
This comes at a time when ITC is confident about the value of our alumni, our partnerships with leading companies, our mentors and teachers. We are now ready to take this calculated risk, together with our amazing investors because we have great faith in the potential of our students.
How this works
We are able to make this vision possible by partnering with Spark Innovation. Instead of paying the ITC tuition in the application stage, students can agree to pay 10% of their monthly salary after they are employed, for two years, and only if they are earning more than 13K NIS per month.
It is important to keep in mind that similar programs in the industry cap payments at 2x the cost of tuition, while ITC caps total payment at 1.5x the tuition.
Who is eligible?
All Israelis and Olim (New Immigrants) interested in taking one of our Fellows courses. It’s important to note that this funding option can be used in addition to a scholarship. You can therefore apply for a scholarship, and fund your course with the ISA.
Investing in ITC students
The ISA program brings investors the opportunity to enjoy both financial and social return, as students chosen for the program will go through a professional screening process led by both ITC and Spark Innovation.
This is the first time ITC is working with Impact Investors. For those interested in getting involved and are from this field, I invite you to get in touch and connect with me at oren@itc.tech.
We, at ITC, want to invest in our students’ future and watch them succeed without the stress of finances holding them back.
Apply Now to see it you qualify for no up-front costs for ITC Fellows programs.