BIRD Foundation invests $5.4m. in Israel-US projects

6 projects approved by the foundation’s board of governors add to the more than 800 projects in which the Foundation has invested.

Money 311 (photo credit: Bloomberg)
Money 311
(photo credit: Bloomberg)
The Israel-US Binational Industrial Research and Development (BIRD) Foundation on Tuesday announced the approval of $5.4 million of funding for six new projects between Israeli and American companies in the fields of communications, health-care information technology and personalized medicine.
“The approved projects reflect a trend in demand for personalization with the help of information technology in various fields such as health-care services and entertainment,” BIRD Foundation CEO Eitan Yudilevich said. “There is high demand for technology that enables the easy exchange of large quantities of information.”
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The combined budget for the joint projects will be $15m., including the grants from the BIRD Foundation and additional private-sector funding.
The six projects approved by the foundation’s board of governors add to the more than 800 projects in which the BIRD Foundation has invested over its 33-year history.
To date, BIRD’s total investment in these projects has exceeded $280m., helping to generate direct and indirect sales of more than $8 billion.
Among the approved projects are the development of an automated medicine- pill dispensing system for home care by Israeli firm Vaica Medical and US firm MTS Medication. Israel’s First Life and US firm Healthline Networks will develop a health-care website consolidating drug effectiveness and patients’ experience data.
The BIRD Foundation promotes collaboration between Israeli and American companies in various technological fields for the purpose of joint product development. It assists by locating strategic partners from each country, making the necessary introductions and providing conditional grants of up to $1m. for approved projects.
The foundation supports projects without receiving any rights in 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 percent of a project’s budget, beginning with R&D and ending with the initial stages of sales and marketing.