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Tuesday, June 26, 2007

BIRD Foundation To Improve US-Israel Cooperation

There seems to be a unique foundation whose sole purpose is to help improve the economic ties between the land of opportunity and the holy land. Both the Israeli government as well as their American friends may be thinking about doubling the financial support for this group, which can only benefit both economies.

(Globes Online) "Doubling the BIRD Foundation's capital will enable the foundation to double its activity, in other words, to increase the number of ventures that we will be able to support, increase investment in each venture, or decide how to combine the two options," [Dr. Eitan Yudilevich] said.

The BIRD Foundation supports joint ventures by US and Israeli high-tech companies by finding strategic partners in the two countries and financing the development of joint products. Over the past 30 years, the foundation has funded 740 projects, which have generated $8 billion in direct and indirect sales.

What makes this foundation unique from an "investors club" is the fact that businesses receiving funds are not required to pay back the money in the event of failure.

This encourages businesses with innovative ideas to flourish, resulting in cooperation between the two nations. Of course, if these companies are successful, the royalties they earn go back to the BIRD Foundation who then can take the funds for further investment, or to help out other industries.

Note: Readers can visit the foundation over here.

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