(JTA) — A foundation that works to support industrial research and development to benefit the United States and Israel will invest more than $8 million in nine new projects.
The projects approved at last week’s board of directors meeting of the Israel-U.S. Binational Industrial Research and Development, or BIRD, Foundation, include advanced developments in life sciences, information technology for medical applications, electronics, software and energy. Among the companies participating include Pioneer (a subsidiary of Dupont), Access USA and MedStar Health.
The BIRD Foundation promotes cooperation between Israeli and American companies in various fields of technology and helps locate strategic partners in both countries for joint product development. The newly approved projects add to the more than 820 projects in which the foundation has invested some $290 million in the past 34 years. The projects have produced direct and indirect sales of more than $8 billion.
"American companies are investing considerable resources in innovation, including identifying unique solutions worldwide," Dr. Eitan Yudilevich, CEO of the BIRD Foundation, said in a news release. "In Israel they find an inexhaustible pool of creative ideas and innovation. Synergetic connections are created between American and Israeli companies, with the assistance of the BIRD Foundation, creating a great advantage to both parties, which eventually leads to manufacturing jobs, sales and profits."