The IIA is also responsible for Iserd[7][8] management within the European Union framework, as well as international R&D agreements and partnerships with countries such as the USA, Canada, Japan, South Korea, Singapore and more.

[9] The IIA promotes diversification of Israeli high-tech in three different verticals – thematic (disciplinary), demographic, and geographic- launching a variety of programs for high-tech employment and entrepreneurship in Israel's periphery and among underrepresented social groups in the tech sector, such as women, Israeli Arabs[10] and Ultra-Orthodox Jews (Haredim), as well as training programs in advanced and emerging technological fields that require talented human capital.

Until 2016, the IIA was known as the Office of the Chief Scientist (OCS) (Hebrew: המדען הראשי, romanized: Ha-madʿan ha-rashi) of Israel's Ministry of Economy.

Its mission is to assist the advancement of Israel's knowledge-based science and technology industries in order to encourage innovation and entrepreneurship while stimulating economic growth.

Incubators are selected through competitive processes for a license period of up to five years and are spread across Israel in sectors such as Medical Devices, Pharma, Bioconvergence, Agricultural technology, Foodtech, Renewable Energy and more.

Startups in the Incubators Program typically receive a joint public-private investment of up to 5 million Shekels (Approximately 1.5M USD) for their first stages of development.