The Maryland/Israel Development Fund (MIDF) supports collaborative technology development and commercialization conducted in partnership between Maryland and Israeli businesses. Its goal is to foster job creation through the growth of companies selling newly developed technological products.
The MIDF is a joint project of the Maryland/Israel Development Center (MIDC), Maryland's Department of Business and Economic Development (DBED), and the Office of the Chief Scientist (OCS) of Israel's Ministry of Industry and Trade. The $5,000,000 five year fund will make investments up to $300,000 in Maryland/Israel company teams collaborating on new product development joint ventures.
I. Criteria of Eligible Companies and Partnerships
Companies developing and commercializing new products in information technology, telecommunications, electronics, bioscience, advanced materials, homeland security and other technology areas.
Collaborations must include one company each whose principle place of business is Maryland and Israel. Principle place of business is defined as the location of the majority of the company?s employees.
II. Size of Investments and Matching Funds
MIDF investments will range between $100,000 to $300,000 per project, split between the Maryland and Israeli partners
The MIDF investment may not exceed 50% of the total cost of the project. Programs in which the MIDF investment will be less than 50% of the total investment are encouraged.
III. Application and Review Process
Maryland/Israel company teams will submit the following for pre-screening to the Maryland/Israel Development Center:
A joint proposal that will define the technical and financial scope of the project, the division of tasks between the parties to the project and a plan for the commercialization of the product, service or process to be developed
A formal agreement between the two parties to the project regarding a balanced division of the know how, manufacturing rights, marketing and sharing/owing of intellectual property rights
Full proposals will be forwarded to DBED and OCS for evaluation and recommendation. Final action will be taken by the Maryland/Israel Investment Advisory Committee.
Please use the following forms found below:
IV. Repayments
When a project results in sales of a product, service or process, the investment must be repaid, equal to 100% of the original MIDF investment
For more information or to receive a Request
for R&D Partner Form or MIDF Application, contact:
Barry Bogage
Executive Director
Maryland/Israel Development Center
+1 410-767-0681
bbogage@MarylandIsrael.org
Ray Dizon
Investment Officer
Maryland Dept. of Business & Economic Development
+1 410-767-6368
rdizon@choosemaryland.org
David Miron-Wapner
Office of the Chief Scientist
Israel Ministry of Industry and Trade
+972-3-511-8101 x-2
david@usistc.org