US-Israel Binational Research Foundation invests $9m. in new projects

Investment will help fund projects in electronics, cyber security, life sciences, communication and homeland security.

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December 30, 2013 20:55
2 minute read.
Industry, Trade and Labor Ministry Chief Scientist

Avi Hasson 311. (photo credit: Industry, Trade and Labor Ministry)

 
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The Israel-United States Binational Industrial Research and Development Foundation earlier this month approved $9 million worth of funding for 11 new joint projects between American and Israeli companies, the foundation announced on Monday.

The projects, which cross a wide range of sectors – such as electronics, cybersecurity, life sciences, communication and homeland security – will each receive conditional grants of up to $1m. from BIRD, a foundation managed cooperatively by the US National Institute of Standards and Technology and the Israeli Economy Ministry’s Chief Scientist Office. According to BIRD’s operations model, the conditional grant can be equivalent to up to 50 percent of a project’s budget, and the two companies are later obligated to repay BIRD – which typically occurs following revenue generation from successful product commercialization.

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In addition to the conditional grant money that the companies receive from BIRD, they will gain access to private- sector funding, boosting the total value of all of the projects to approximately $23m., the foundation explained.

“The projects approved by the Board of Governors include innovative, relatively high risk, technology developments. BIRD’s support reduces the risk and increases the chances of commercialization in the global market,” said Eitan Yudilevich, executive director of BIRD. “The Foundation will continue to promote US-Israel partnerships in diverse topics, such as cybersecurity and homeland security, neurotechnology, advanced manufacturing and more.”

The projects recently selected included personalized regenerative medical technologies being developed by Haifa- based Bonus BioGroup Ltd. and Boston- based Cellora LLC, as well as a healthcare analytics and engagement portals generated by Ramat Hasharon- based CliniWorks Ltd. and New York-based Pfizer, Inc.

For pharmacy management, Haifa- based RescueDose Ltd. and Las Vegas-based ec2 Software Solutions are to work on a robotic dispensing device, and Kfar Malal-based New NI Medical 2011 Ltd. and Des Moines-based Athena GTX are to produce a telemedicine system for the home-healthcare market.

Tirat Carmel-based MeMed Diagnostics Ltd. and Carlsbad-based Diagnostic Consulting Network are to create a point-of-care device to diagnose bacterial versus viral infections.



Shefayim-based PetPace Ltd. and Tampa-based BluePearl Management LLC are to meanwhile develop an integrated in-hospital and outpatient pet remote monitoring system.

Tel Aviv-based Lingacom Ltd. and Sunnyvale-based Rapiscan Laboratories Inc. are to work on a secondary security-detection system employing muon – an unstable subatomic particle – technology. Herzliya-based eyeSight Mobile Technologies Ltd. is to work with Albuquerque-based TriLumina Corp. to develop combined smart-light sources for touchless gesture and sensing applications.

In order to hone a secure smart-grid solution, Tel Aviv-based-RADiFlow Ltd. and Frederick-based Patriot Technologies Inc. are to work together, while Petah Tikvah-based Gilat Satellite Networks Ltd. and Redmond-based Kymeta are to develop a portable satellite terminal. Kadima-based WeldObot Ltd. and Florham Park-based Heller Industries Inc. are to be creating an innovative welding device.

These 11 projects join 878 projects approved by BIRD in its 36-year history, during which the foundation has invested more than $308m. and thereby helped generate direct and indirect sales of more than $10b., the organization said.

“The projects approved in the last board meeting reflect the significant diversity and potential of the [BIRD] collaborations,” said Avi Hasson, chief scientist of the Economy Ministry.

“These projects contribute to the economy of both Israel and the United States and encourage growth and job creation.”

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