How does the BIRD Foundation operate and who is eligible? Any pair of companies, one Israeli and one U.S.-based, may apply jointly so long as they can demonstrate the combined capabilities and infrastructure to define, develop, manufacture, sell and support an innovative product based on industrial R&D.
The key criterion is that each corporate entity shall have the ability to carry out its part of the joint development and commercialization. Their willingness to share in the financial risk of product development as well as in the financial gain of commercialization, are also key factors in BIRD’s evaluation.
The BIRD Foundation offers conditional grants for joint development projects on a risk-sharing basis. The Foundation funds up to 50% of each company’s R&D expenses associated with the joint project, up to $1M per project. Repayments are due if commercial revenues are generated as a direct result of the project.