JERUSALEM, Aug. 14 (Xinhua) -- Israel's Innovation Authority, Ministry of Economy and the National Cyber Directorate Tuesday launched a program to strengthen the state's cyber industry.

The program will receive 90 million new shekels (about 24.4 million U.S. dollars) over the next three years, aiming at ensuring Israel to meet the cyber sector's biggest challenges, secure its place at the forefront of innovation, and bolster its global leadership.

The authorities will also jointly promote the innovation in sectors with significant digital transformations to handle cyber threats.

The new programs are designed to encourage the creation and growth of sustainable cyber companies in Israel through promotion, development, and commercialization of innovative technological solutions.