The BIRD Foundation, set up by the Israeli and US governments, has announced it would offer $10 million financial support for several projects totaling $30 million. More than half the projects are in the life sciences (some in genomics). The foundation’s support for some of the projects is contingent on certain clarifications from the companies involved.
The Bird Foundation, a non-profit entity, assists companies to identify strategic partners for setting up projects for joint product development. The foundation finances up to 50% of project expenses, and gets the money back in the form of royalties. If the project does not generate sales, the foundation participates in the loss, and does not demand the return of its investment.
One of the projects to be financed by the foundation involves cooperation between General Electric’s R&D division and Israeli company Systel to develop chips for digital control of lighting applications linked to the electricity grid. communication will be transmitted over the grid, without using additional wiring.
The foundation will also participate in other projects involving strategic cooperation between Israeli companies and major US corporations. Israeli company Plasma Laser Technologies will set up a joint project with DCT, a supplier of car production lines for global car manufacturers. Plasma Laser developed a technology combining laser and plasma for car chassis welding.
Israeli company Medivision Medical Imaging will develop an imaging system for the laser treatment of retina disorders, in a joint project with US company Ophthalmic Imagine Systems, which deals in eye computerized imaging.
BIRD Foundation Executive Director Dov Hershberg said that the foundation will continue to focus on projects in the life sciences, including genomic applications, protein research and bioinformatics.
The BIRD Foundation (Binational Industrial Research and Development Foundation)
was set up by the Israeli and US governments in 1977. The foundation cooperates with the Israeli Ministry of Industry and Trade’s Chief Scientist Office and the US National Institute of Standards and Technology (NIST). Representatives of both agencies rotate as chairman of the foundation’s board of directors.
Published by Israel's Business Arena on 7 December, 2000