A private legal entity, for profit, that supplies its portfolio companies with the following: work environment, administrative services, technological & business guidance, and legal & regulatory assistance, in exchange for equity in the company. In Israel, the Office of the Chief Scientist has a technological incubator program. The primary goal of the program is to transform innovative technological ideas, that are too risky and in too early a stage for private investments, into viable startup companies. The incubation term of a project is approximately two years and the total budget for the two-year term ranges from US $500,000 to US $800,000.