TEL AVIV, Israel, July 2, 2012 /PRNewswire/ --
During its meeting on June 21, held in Boston, MA, the Board of Governors of the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation, approved $7.15 million of funding for eight new projects between Israeli and American companies. In addition to the grants from BIRD, the projects will access private sector funding, boosting the total value of all projects to approximately $20 million.
The BIRD Foundation promotes collaboration between Israeli and American companies in various technological fields for the purpose of joint product development. Specifically, the Foundation assists by locating strategic partners from each country, making the necessary introductions, and providing conditional grants of up to $1 million for approved projects.
The eight projects approved by the Board of Governors are in addition to the 845 projects which the BIRD Foundation has approved for funding over its 35 year history. To date, BIRD's total investment in these projects has been $295 million, helping to generate direct and indirect sales of more than $8 billion.
The approved projects are as follows:
|SOURCE The BIRD Foundation|
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