Bi-national Funds for Industrial R&D Cooperation
In this framework, two nations contribute a pre-determined sum to a binational foundation intended to support cooperative projects. A board of directors is appointed by the two governments, and each fund establishes its own criteria and procedures. The funds are managed, and grant payments are administered by a non-profit organization. The binational foundations do not receive equity in the companies supported, nor do they receive intellectual property rights or interfere in formulating or managing relationships between partnering companies. In addition to providing R&D projects with financial support, foundations search for business partners in both countries for the purpose of collaboration in technology development projects.
The foundations enable the participation in joint R&D projects with foreign counterparts. Grants are up to 50% of R&D expenses of each company from each state.