July 2006
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July 2006
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Israeli-U.S.
Industrial Research and Development Foundation Seeking Opportunities for
Cross-Country Collaboration in MedTech Industry
The Israel-U.S. Bi-national Industrial Research and Development (BIRD) Foundation was established by the U.S. and Israeli governments in 1977 to generate mutually beneficial cooperation between U.S. private sector companies and Israeli high tech industries. BIRD provides both matchmaking services between U.S. and Israeli companies and funding for qualifying projects, covering up to 50 percent of project development and product commercialization costs up to $1 million. During its 29 years, the BIRD Foundation has invested in over 700 projects,
yielding direct and indirect revenues of about $8 billion. The
BIRD Foundation supports projects without receiving any rights from the
participating companies or in the project itself. The financial assistance
is repaid as royalties from sales. The Foundation provides support of
up to 50% of a project’s budget, beginning with R&D and ending
with the initial stages of sales and marketing. The Foundation shares
the risk and does not demand that the investment be repaid if the project
fails to reach the sales stage. Any pair of companies, one Israeli,
one American, may jointly apply for BIRD support so long as they have
the combined capability and infrastructure to define, develop, manufacture,
market, sell and support an innovative product based on industrial R&D.
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