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US-ISRAELI R&D FOUNDATION TO INVEST IN $8 MLN IN 9 NEW PROJECTS

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Wednesday, November 16th, 2011

The Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation, approved $8.1 million of funding for nine new projects between Israeli and American companies. The approved projects involve innovations in the areas of life sciences, healthcare IT, electronics, software and energy.

In addition to the grants from BIRD, the projects will access private sector funding, boosting the total value of all projects to $24 million.

The BIRD Foundation promotes collaboration between Israeli and American companies in various technological fields for the purpose of joint product development. During its 34 years, the BIRD Foundation has invested in more than 820 projects, which have yielded direct and indirect revenues of about $8 billion.