BIRD Foundation to Marks Approval of 1000 Projects between Israeli and American Companies!
At a reception at the Peres Center for Peace and Innovation in Tel Aviv last week, it was announced that the #BIRD Foundation has approved funding for 1000 joint projects of American and Israeli companies since its inception. This is a special landmark for the Foundation which has invested more than $350 million to date in a variety of projects in different areas and sectors.
Investing in #innovation is a risky business, and when technology partnerships are added to the mix, the risk factor only increases. For forty-two years, the BIRD Foundation has been supporting U.S. Israel #technology #partnerships. The BIRD funding mechanism covers up to 50% of a joint project’s development costs, up to a maximum of $1 million per project. BIRD also facilitates introductions between U.S. and Israeli companies. BIRD shares the risk with the companies. If the supported projects are successful and generate revenue, the companies are required to repay the Foundation. However, BIRD funding is non-dilutive and repayment is capped. If a project does not generate revenue, the companies are not required to repay.
It was gratifying to hear the stories of former BIRD recipients: #Insightec Ltd., #ECOncrete Tech Ltd., #mPrest Technologies Ltd., #Lingacom Ltd., and #Opgal Optronics Ltd. who presented the stories of their partnerships through the Foundation. As a result of BIRD’s support, the companies were able to bring their products to market and gain market share and valuable expertise. These companies are making a powerful impact and contributing to the creation of a better world.
