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"BIRD" BIO TECH BOSTON AND GENOCIDE |
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by Naked Pagens
(No verified email address) |
07 May 2007
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This week is in Boston is one of the largest
conventions for Biological Engineering. Bio
Corporations do all kinds of really bad stuff like
mutate genes and and DNA for profit.
This industry is worse than the Asbestos, tobacco,
chemical weapons and nuclear missile industries all
put together and could quickly ruin life on earth
forever.
So its no wonder that the experts on Genocide in
Palestine are major players...
Here is an announcement of their expo Pavilion and
event, A article from the Jewish advocate and some
info on "BIRD". BIRD is an acronym for Israel-U.S.
Binational Industrial Research and Development.
http://www.birdf.com/Index.asp?CategoryID=22&ArticleID=79
Israeli innovation to shine at convention
Israeli Pavilion at the BIO 2007 International
Convention
06/05/07 - 09/05/07
Boston Convention & Exhibition Center
Organized by The Israel Life Science Industry (ILSI)
Israel will have the opportunity to market it’s
capabilities as a world class center for biotechnology
and medical device on a scale appropriate with its
level of expertise.
Bio Boston 2007
May 6-9, 2007.
Boston Convention & Exhibition Center
Dear Colleagues and Friends,
We cordially invite you - whether you are a medical
device, pharma or biotechnology company - to visit the
Israeli Pavilion at the BIO 2007 International
Convention
For the third year in a row, Israel will have the
opportunity to market it’s capabilities as a world
class center for biotechnology and medical device on a
scale appropriate with its level of expertise. ILSI is
leading the effort to showcase Israel as the place to
do business.
This year offers us the potential for Israel to regain
the spotlight in the international Life Science
community.
Companies participating at the Pavilion are:
Optimata, BiolineRx, Kamada, TEVA, Hadasit, HBL,
Compugen, DoCoop, Foamix, Genzyme, BHLSI, Rad Biomed,
E-Pill, Mor Research, Coredynamics, ILSI, BIRD
Foundation, MATIMOP.
We invite you to join our activities in the Israeli
pavilion:
Sunday, May 6th
Welcome Evening Reception at the Israeli General
Consul’s house (more information to be distributed)
Monday, May 7th
9:15 – 10:45 am: ISRAEL’s Country session - BCEC,
Level Two
Participants:
Dr. Eli Opper – Chief Scientist, Ministry of Industry,
Trade & Labor.
Ruti Alon – Chairperson ILSI, General Partner, Pitango
Venture Capital
Dr. Shimon Eckhouse, the inventor and patent holder of
IPL, founded Syneron.
Prof. Ehud Shapiro, Weizmann Institute of Science
Dr. Yael Margolin, CEO, Gamida Cell
9:15 am – 9:30 am: Exhibition Grand Opening and Ribbon
Cutting Ceremony
Please do not hesitate to contact us for any
additional information. We look forward to seeing you
at the Israeli pavilion!!!
BIRD is an acronym for Israel-U.S. Binational
Industrial Research and Development. The BIRD
Foundation's mission is to stimulate, promote and
support industrial R&D of mutual benefit to the U.S.
and Israel.
http://www.birdf.com/Index.asp?CategoryID=22&ArticleID=79
By Raphael Kohan - Wednesday May 2 2007
Israeli biotech innovation at work in the operating
room.
Over 15 Israeli companies to exhibit at biotech fair
Some of the greatest minds in science from around the
globe will descend on Boston from May 6-9 for the 15th
annual Bio International Convention. Held at the
Boston Convention and Exhibition Center, the
biotechnology expo will feature more than 1,800
exhibitors, and the event’s organizers are expecting
upwards of 20,000 industry leaders from more than 60
countries.
This year’s theme: “New Ideas. Bold Ventures. Global
Benefits,” reflects the innovative spirit of the
companies in attendance. And for many Israeli
companies, this year’s forum represents a chance to
share their ideas, make new discoveries and foster
business relationships.
“The biotech industry is one of strongest industries
today in Israel,” said Michal Chananel, Economic
Affairs Officer at the Consulate General of Israel to
New England. Chananel added that it is important for
the approximately 600 life science companies in the
Jewish state to “come and meet other life science
companies and find opportunities for international
cooperation and investments.”
OHK Medical Devices, an Israeli company that invented
a single-use product for bloodless orthopedic surgery,
is looking to expand into the American market. The
company’s CEO, Oren Gavriely, sees the Boston Bio
Convention as the venue to gain a foothold.
“It’s a great opportunity for Israeli companies to
come and share their information,” said Gavriely.
“This can’t be done over the phone or e-mail. Our
presence is very important for taking part in this
market.”
The first official Israeli delegation came to the
convention in 2000, spearheaded by Israel’s Chief
Scientist Eli Opper. Since then, numerous Israeli
companies and research institutes have consistently
participated in the gathering, many of which exhibit
at a booth featuring Israeli businesses. This year’s
Israel pavilion will boast more than 15 exhibiting
companies.
And one company in particular, though not among the
exhibitors, hopes to return to Israel with more than
just ideas.
“We are coming to start talking with companies to hear
the important issues that will attract them to Haifa,”
said Amir Lahat, vice president of Haifa Economic
Corporation.
HEC has begun strategic planning for Haifa’s Life
Sciences Park, a state-of-the-art facility that will
cater to the needs of life science companies, with the
intention of creating a community of research and
discovery in Haifa. Funded by HEC, the park will also
advance the mission of the Boston-Haifa Life Sciences
Initiative (BHLSI), which was launched in 2004 by
Combined Jewish Philanthropies and the municipality of
Haifa.
“There’s an opportunity for regions and nations to
look beyond their own borders and, if targeted
properly, there’s tremendous opportunity to
cross-pollinate where synergies are taking place,”
said BHLSI director Robin Blatt.
In some ways, the park has the same potential for
collaboration as the convention. At the park, however,
companiies would work full-time in proximity to one
another, instead of simply exchanging ideas for a
handful of days.
“The main purpose of our trip is not to profit,” said
Lahat, “it is to make the Life Sciences Center so
there will be thousands of new jobs that will not only
be good for Israel and Haifa, but good for the medical
field and the health of everyone.”
And while Lahat will be listening to the interests and
needs of life science companies, Gavriely and OHK will
be listening to the murmur of the market at the
convention, which, he said, almost always reveals the
future.
“As a company we get ideas from the market,” said
Gavriely. “From a convention in California, we came up
with a pipeline for 10 years of technology. Great
innovations come out when you listen to what the
market has to say.”
BIRD Offices and Representatives
Headquarters
BIRD Board of Governors
Staff US Office US Representatives
Headquarters Office Address:
Kiryat Atidim, Building 4, 15th floor
Tel Aviv 61581, Israel
Mailing Address:
P.O. Box 58054
Tel Aviv 61580, Israel
Tel: 972-3-647-0710
Fax: 972-3-649-8341
BIRD Foundation Board of Governors
The Board of Governors meets semi-annually,
in the U.S. in June/July and in Israel in
November/December.
Each government has three representatives on the
Board.
U.S. Governors
Mr. Ken Ferguson
Senior Foreign Affairs Officer
Office of Science and Technology Cooperation
Bureau of Oceans & International Environmental &
Scientific Affairs
U.S. Department of State
Mr. C. Marshall Mills
Director, Office of Middle East and South Asian
Nations
U.S. Department of the Treasury
Mr. Marc Stanley
Director, Advanced Technology Program
NIST U.S. Department of Commerce
Israeli Governors
Dr. Yossi Bachar
Director General
Israel Ministry of Finance
Mr. Gabby Maimon
Director General
Israel Ministry of Industry, Trade and Labor
Dr. Eli Opper
Chief Scientist
Israel Ministry of Industry, Trade and Labor
BIRD Staff:
Eitan Yudilevich, Ph.D. Executive Director
eitan (at) birdf.com
Ruth Baum Accountant Assistant
ruti (at) birdf.com
Shlomo Cohen Chief Financial Officer
shlomo (at) birdf.com
Chava Doukhan Office Manager
chava (at) birdf.com
Maha Mansour Information Systems Manager
maha (at) birdf.com
Ron Maron, Ph.D. Director, Business Development
ron (at) birdf.com
Einat Spivak Senior Administrative Assistant
einat (at) birdf.com
Yuval Weiss, Ph.D. Chief Business Officer
yuval (at) birdf.com
Michal Miasnik West Coast Representative
michalm (at) birdf.com
Back to top
U.S. Office
Santa Clara, CA
Michal Miasnik West Coast Representative
Tel: 408-727-6777
Fax: 408-727-6166
e-mail: michalm (at) birdf.com
U.S. Representatives
Chicago, IL
Limor Nakar-Vincent East Coast Representative
Tel: 312-923-1095
Fax: 206-203-2178
e-mail: limorn (at) birdf.com
Chicago, IL
Noa Asher Government of Israel Economic Mission
Tel: 312-332-2160
Fax: 312-332-2163
e-mail: noaa (at) birdf.com
Atlanta, GA
Tom Glaser American-Israel Chamber of Commerce, SE
Region
Tel: 678-420-7476
Fax: 404-843-1416
e-mail: tomg (at) birdf.com
Cleveland, OH
Howard A. Gudell Ohio-Israel Chamber of Commerce
Tel: 216-965-4474
Fax: 216-621-6862
e-mail: howardg (at) birdf.com
Houston, TX
Joseph Abraham Government of Israel Economic Mission
Tel: 713-599-0290
Fax: 713-599-0296
e-mail: josepha (at) birdf.com
Los Angeles, CA
Shai Aizin Government of Israel Economic Mission
Tel: 323-658-7924
Fax: 323-651-0572
e-mail: shaia (at) birdf.com
New York, NY
Yair Shiran Government of Israel Economic Mission
Tel: 212-499-5610
Fax: 212-499-5615
e-mail: yairs (at) birdf.com
Philadelphia, PA
Debbie Buchwald America-Israel Chamber of Commerce
Tel: 215-790-3722
Fax: 215-790-3601
e-mail: debbieb (at) birdf.com
Trenton, NJ
Andrea Yonah Commerce & Economic Growth Commission
Tel: 609-633-8600
Fax: 609-292-6069
e-mail: andreay (at) birdf.com
Vienna, VA
Ralph Robbins Virginia Israel Advisory Board
Tel: 703-288-1414
Fax: 877-586-6833
e-mail: ralphr (at) birdf.com
Washington, D.C.
Sharon Regev Israel Embassy
Tel: 202-364-5498
Fax: 202-364-5647
e-mail: sharonr (at) birdf.com
BIRD RELATED SITES
Venture Capitals/Investment Banking
A. Heifetz & Co.
AIG Orion Venture Capital Advisors
Alon Technology Ventures
Amanet Technologies Ltd.
Ampal American Israel Corporation
Apax Partners Ventures (Israel) Ltd.
Arba Finance Company Ltd.
Argoquest, Inc.
Ascend Technology Ventures
Asia Gate Co. Ltd
Aura Investments Ltd.
Balance Holdings
Bear Stearns & Co. Inc
Benchmark Capital
BRM Seed Group
Carmel Ventures
Catalyst Investments L.P.
Clal Biotechnology Industries
Clal Venture Capital Management
Concord Ventures Management Ltd.
Cukierman & Co Investment House
Delta Ventures
Denali Ventures LLC
Deutsche Bank
Discount Investment Corportion
Edmond de Rothschild VC Management
Eurofund
European Venture Partners
Evergreen Partners Ltd.
Fantine Capital
First Israel Mezzanine Investors Ltd.
First IsraTech Fund
Foresight Technology Investment and Consulting Ltd.
Formula Ventures Ltd.
Forum Consulting & Business Development
Gemini Israel Venture Funds
Genesis Partners
Giza Venture Capital
Global Catalyst Partners
HK Catalyst Strategy & Finance
Intel Capital
Inventech Investment Co. Ltd.
Israel Infinity Venture Capital Management
Israel Seed Partners
Jerusalem Global Ventures
Jerusalem Venture Partners LP
Koor Corporate Venture Capital
Leumi & Co. Investment House Ltd.
M Rotem Industrial & Business Planning
Magnum Communications Fund
Marathon Venture Capital Fund
MayTree Management Group
Millennium Materials Technology Fund
Mofet Israel Technology Fund
Myriad Partners
Ness Ventures
Orbotech Ventures
Oscar Gruss & Son
Persys Investments
Pitango Venture Capital
Poalim Capital Markets Technologies
Portview Communications Partners
Proseed Venture Capital Fund
R.D.T Ventures
Rafael Development Corporation
Ramot & Co. Investment House
Romtech
Samourai Ventures
Sequoia Capital Seed Fund
Shrem, Fudim, Kelner & Co. Ltd.
Shalom Equity Fund
Siemens Venture Capital
Silicon Valley Bank
Spring Investment Mgmt Company
Star Ventures
Steps Investments in Technology
STI Venture Capital
Tamir Fishman & Co.
Tamir Fishman Ventures II
TDA Capital Partners (Israel)
TechnoPlus Ventures
Teuza- A Fairchild Technology Venture
Tri- United Technologies
Veritas Venture Partners
Vertex Management Israel
Walden Israel Ventures
WR Hambrecht+Co
Yozma Management & Investment
Academic Institutions
Agricultural Research Organization
Bar-Ilan Research Authority
Ben-Gurion University of the Negev -Technologies &
Applications
Open University of Israel Research Authority
Ramot of Tel- Aviv University
University of Haifa - R&D Authority
Weizmann Institute of Science - Office of Research
Grants and Projects (ORGP)
Yissum, The Technology Transfer Company Hebrew
University of Jerusalem
Accounting Firms
BDO Ziv Haft
Deloitte Touche Tohmatsu - Brightman Almagor & Co.
Ernst & Young Israel (Kost Forer Gabbay & Kasierer)
Fahn, Kanne & Co.
Kesselman & Kesselman - PriceWaterhouseCoopers
KPMG- Somekh Chaikin
Rubin & Katz (Weiser LLP)
Consultancy
AGS globalservices
Arazy Group
Atid EDI
Cukierman & Co. Consulting
BP&C - Building Powerful Corporation
Cedar (Israel) Financial Advisors
Fantine Group
Foresight
Gartner Group
IARD - Institute for Advanced R&D
IsraTec Consulting Services
MATI Raanana
MIW - Managing Investment Worldwide Ltd.
Shaldor
Strauss Strategy Consulting & Systems
Trendlines International Ltd.
Tudog Israel
Yankee Group Israel
Data Information Channels
BioIsrael
d&a hi-tech information
Israel Science and Technology
IVC-Research Center
Foundations & Organizations
American Jewish Congress
Association of Electronic, Information and Software
Industries
Association of Software Houses
BARD- The US-Israel Binational Agricultural Research
and Development Fund
Britech- UK- Israel R&D Foundation
CIIRDF- Canada Israel R&D Foundation
Cooperation for Energy Independence of Democracies
Organization
Eureka
IISERD- Israel Europe R&D
ILA – The Israeli Information Technology Association
ILSI - International Life Sciences Institute
Israel-America Chamber of Commerce (AmCham Israel)
KORIL–RDF-Korea-Israel R&D Foundation
SIIRD-Singapore-Israel R&D Foundation
Technological Incubators Program Office
Government
Invest in Israel - Israel's Investment Promotion
Center
Israel Export and International Cooperation Institute
Israel Institute for Biological Research – IIBR
MATIMOP- Israeli Industry Center for R&D
Ministry of Finance
Ministry of Industry and Trade & Labor
Ministry of Science, Culture & Sports
MIT Enterprise Forum of Israel
NIST- National Institute of Standard & Technology
OCS- Chief Scientist, Ministry of Industry and Trade
Law Firms
Balter, Guth, Aloni & Co.
Borochov, Korach, Eliezri & Co.
Cohen, Lahat, Doron & Co.
Efrati Galili Lahat & Co.
Fulbright & Jaworski LLP
Hanner-Ofer - Law Firm
Herzog, Fox & Neeman (HFN)
Morrison & Foerster LLP
Naomi Assia Law Offices
RC&P Reinhold Cohn & Partners
Shinar, Shachor, Weisberger
Shiboleth, Yisraeli, Roberts, Zisman & Co. & Neeman,
Ben Artzi & Co.
Volovsky, Dinstein, Sneh & Co.
Yigal Arnon & Co.
Zellermayer, Pelossof & Co.
Zysman Aharoni Gayer
2005 Bio Con
Genzyme Corporation
Yeda Research & Development Co, Ltd
Israel Export & International Cooperation Institute
Hadasit LTD
Proneuron Biotechnologies, inc
D-Pharm, Ltd.
Gamida Cell, Ltd Pavilion
MATIMOP - Israeli Industry Center for R&D
Yissum Technology Transfer Company
BioLineRx Ltd. 1959
B.G Negev Technologies Ltd.
Sorasky M. Center Pavilion
Nicast Ltd
Brainsgate LTD
Colbar LifeScience, Ltd
TheraVitae Ltd
NVR Ltd 1959
Bereshit (Genesisi) for cell therapy
ILSI
Prochon Biotech
GeneGrafts Ltd
Brainstorm Cell Therapeutics
Do-Coop Technologies Ltd |
This work is in the public domain |
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ILSI-Biomed Israel June 5-7 2007. at the King David Hotel |
by Naked Pagens
(No verified email address) |
07 May 2007
|
http://www.kenes.com/biomed/conference/welcome.asp
WELCOME
Biomed2007 - Doctor
Dear Colleagues,
It is our special honor to invite you to join us in
ILSI-Biomed Israel 2007.
The meeting will be held in Tel-Aviv, at the David Intercontinental Hotel.
Please mark the date: June 5-7, 2007.
Biomed 2006 already indicated to us that a tradition has been established and that members of the international life science community cannot afford to not attend. Indeed we were proud to host official delegations from: Belgium, Canada, France, Germany, India, Ireland, Italy, Singapore, South Korea, Switzerland, The Netherlands, UK, USA along to visitors from: Australia, Austria, Brazil, Czech Republic, China, Denmark, Egypt, Greece, New Zealand, Nigeria, Senegal, Sierra Leone, Spain, Sweden, Taiwan, Turkey and Ukraine.
During the three days of the event, we could sense the highly positive energy in the air and the best indication is that many one-on-one sessions took place between Israeli delegates and those from the
international venture capital and production/sales industries. In fact we already witnessed follow-ups of such sessions.
The 2006 program already took into consideration the assimilation of biotech and medical device (Biomed – being our brand name) and in each of the sessions (cardiology, orthopedics, nerve-stimulation) the combination of the two disciplines has been emphasized. ILSI-Biomed 2007 will be a natural extension of the same approach of converging medical device, diagnostics and biotechnology. Just as a catalyst of attraction.
Just to highlight a few leading aspects:
* The International Stem Cell Meeting: Stem Cells and their Regulatory Microenvironment .
Together with the Weizmann Institute we will revisit the whole area of stem cell research including review of the basics, analysis of the IP / patent policy, trends in the industrialization process and convergence with medical device approaches.
* Innovations Bio-Pharma and Medical Device: Preliminary agenda will be published shortly
* BioBusiness: From a scientific discovery to a profitable industryopportunities and hurdles. A series of panel discussions will address the crossroad and meeting site between tech-transfer, regulation, investment at various stages and marketing strategies.
We look forward to your participation, and will provide more
information and details as the conferences takes shape.
Sincerely,
Rafi Hofstein, Ph.D.
Co-Chairperson Ruth Arnon, Prof.
Co-Chairperson
The International Stem Cell Meeting:
Stem Cells and their Regulatory Microenvironment
Sponsored by
Legacy Heritage Foundation
Organized by
Under the auspice of
Weizmann Institute of Science
Israel Stem Cell Society (ISCS)
In Cooperation with:
Ministry of Industry - State of Israel
Ministry of Industry, Trade & Labor, Foreign Trade Administration, Investment Promotion Center
Israel Industry Center R & D
Israel High Tech.TV
The Israeli Export & International Cooperation Institute |
|
Bird Model |
by Naked Pagen
(No verified email address) |
07 May 2007
|
The BIRD Model and Advantages
Part I - BIRD Model
Part II - Major Advantages of BIRD Projects
BIRD Model
Any two companies, one registered in Israel and the other in the U.S., may jointly apply for BIRD support, as long as they have the combined capability and infrastructure to define, develop, manufacture, sell and support an innovative product or service, referred to as "the Product". The two partnering companies, collectively referred to as "the Proposer", may simply cooperate on an ad-hoc basis, linked through a corporate joint venture, or may even share common ownership. One key criterion is that each company shall have the demonstrated ability to carry out its part of the Product's joint development program, referred to as "the Project", as well as its part in the commercialization.
Another key criterion is that the nature of the business relationship between the two companies is that of sharing; both in the Product's development program and in the revenue derived from its commercialization. BIRD participates in the Project's development cost, referred to as "the Budget", with the Proposer, by funding up to 50% of the Project's budget, referred to as "the Conditional Grant".
The two companies, separately and together, are obligated to repay BIRD the total Conditional Grant received, referred to as "the Repayment", but almost always only from revenue generated by the Product's sales upon successful commercialization. (Please see a schematic diagram of BIRD's model of payments-repayments in the figure below.)
BIRD's Model of Payments - Repayments
Schematic Diagram of BIRD's Grant Payment - Repayment Model
The Product
The jointly developed product(s) or service(s) must have significant technological innovation or must introduce an innovative business/ marketing concept. Ideally, one or both companies shall possess intellectual property rights to the technology to be developed and to the product commercialization. The Product should target an attractive and growing market that is geographically non-specific, and is familiar to and serviced by at least one of the two partnering companies.
The Project
The Project is defined as the scope and duration of the development program undertaken jointly by both companies, at the end of which the Product should be close to market-ready. All activities required for subsequent commercial manufacturing, specification, and market introduction, should be detailed in the Project, including beta-site testing, regulatory approvals, and test marketing. Project start date may be as early as the 1st of the month in which the final Project proposal is submitted jointly by the companies, and Project duration may be as long as 3-4 years, if deemed necessary for reaching commercial readiness.
The Proposer
The U.S. company and the Israeli company are collectively referred to as the Proposer. Both companies should have the necessary operations required for the Project in their respective countries, whether R&D, manufacturing or marketing. The two companies should have the combined, proven capability and infrastructure to define, develop, manufacture, sell and support the Product defined by the Project. Typically, the Project partners include one larger company (in most cases, the U.S. company), and one smaller company (in most cases, the Israeli company). Both partners should contribute and share their technological expertise and intellectual property in execution of the joint development program, but their respective contributions do not necessarily have to be equivalent.
Nevertheless, the task assignments should be divided in such a way that neither partner's portion in the combined budget is less than 30%. Manufacturing responsibilities of the Product can be divided between the companies as they see fit, and can be performed by subcontractors in any geographical location. Marketing and sales support of the Product can be divided between the project partners. However, at least one partner (usually the larger U.S. company) should have extensive market presence, as well as a proven track record in marketing and infrastructure, to successfully realize, upon product commercialization, the bulk of the sales projections indicated in the proposal.
The Project Budget
The Project Budget is estimated by the Proposer and is submitted as part of the project proposal in the grant application process. The budget that BIRD recognizes includes practically all development expenses to be incurred during the course of the Project, including direct labor and its associated overhead, materials, subcontractors, consultants, travel, depreciation (33% per year) on new or used equipment employed, and marketing expenses related to the development effort. The budget is prepared and submitted separately by the Israeli company ($X in the diagram) and the U.S. company ($Y), and covers the entire project duration.
BIRD's Conditional Grant
BIRD will cost-share the joint development by extending to the Proposer a conditional grant totaling up to 50% of the Project Budget (X+Y in the diagram). Each partner directly receives the portion of the total grant that is relative to its share in the budget. Payments are made after receipt and approval of a joint technical report and a separate fiscal report submitted by each partner at the end of each segment (generally every 6 months). These reports cover the development progress and the actual expenses incurred during the segment.
Grant Repayments
Upon product commercialization, the revenue (and not the profit) derived by either partner from sales of the Product or subsequent products based on the technology developed in the Project, form the main basis for repayment of the BIRD's Conditional Grant. Repayments are made at the rate of 5% of each dollar of reported sales revenue. Only revenue generated from sales to third parties is applicable, so sales between the two partners are not considered a basis for repayments. Additional sources of repayments to BIRD are from any revenue derived by either partner from extending licensing rights to the technology, at the rate of 30% of the revenue earned, or from the outright sale of the technology to any third party, at the rate of 50% of the sales value. The maximum repayment amount due by the Proposer is dependent on the length of time that it takes to complete the repayments, as detailed in the table below:
For the period extending from Project start, up to a full year after Project completion (1st year of product commercialization), the repayment amount due is the actual cumulative sum granted by BIRD to the Proposer, linked to the U.S. Consumer Price Index (CPI). The repayment sum due does not increase beyond the 5th year after Project completion, so the maximum repayment obligation that the Proposer can ever assume is 150% of the total sum granted by BIRD, linked to the CPI. In addition, BIRD will accept early retirement of the Conditional Grant, if so desired by the Proposer.
If the commercialization of the Product is unsuccessful, and no sales revenue is generated, whether due to technological or marketing failure, BIRD will not seek repayment of the Conditional Grant. Thus, BIRD participates with the Proposer in the risk of an unsuccessful product development investment.
Continue to Part II: Major Advantages of BIRD Projects
Major Risk-Sharing
By providing a conditional grant, BIRD cost-shares up to 50% of a Project's development expenses. BIRD is entitled to repayments of a maximum of 150% of this Conditional Grant based on sales revenues derived from the Project. If a Project fails, BIRD will claim no repayments. Therefore, BIRD is a major risk-sharer with the Project partners.
No Equity; No Intellectual Property Rights
BIRD acquires neither equity nor any rights to intellectual property in BIRD-funded Projects.
Off-Balance Sheet Financing
BIRD's Conditional Grant is a form of off-balance sheet financing. Grant payments are usually recorded as a reduction of R&D expenses, and grant repayments are recorded as a royalty expense. Because both transactions are P&L items and the repayment obligation is not recorded as a liability, they do not have any impact on the balance sheet. In addition, repayments are considered as pre-tax expenses. This R&D leveraging instrument has proven popular with public and pre-public companies.
No Interference in Company - Company Relationship
BIRD is not involved in formulating the nature of the relationship between the partnering companies. Likewise, the precise conditions and terms of this relationship are not subject to BIRD approval. The two companies may simply cooperate on an ad hoc basis, linked through a corporate joint venture, or be commonly owned.
Seal of Approval
Project proposals submitted to BIRD are subject to a confidential review by qualified and experienced experts from the US National Institute of Standards and Technology (NIST) and from the Office of the Chief Scientist (OCS) of Israel's Ministry of Industry and Trade. Their professional recommendations, together with BIRD's familiarity with the participating companies, are further endorsements of the decision to undertake the joint venture. |
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