technical & fiscal reporting seminar...chava doukhan off. office manager [email protected] limor...
TRANSCRIPT
1
Technical & Fiscal Reporting Seminar
Given to New Grantees of
the BIRD Foundation
January 2020
Tal Kelem
Business Development
Natalie Galperin
Chief Financial Officer
BIRD Approved Projects
BIRD Ref. IL company US Company PBC(Primary BIRD Contact)
1658 Advanced MemTech Agar Corporation Eitan Yudilevich
1659 AgroScout Birdstop Tal Kelem
1661 DosentRx Contents Trader Omer Carmel
1662 Fluence Water Products Energy Systems Group Limor Nakar- Vincent
1663 GoldenGaitSpaulding Rehabilitation Network
Eitan Yudilevich
1665 MDI Thermo Fisher Scientific Tal Kelem
1667 Nanolock Security Micron Technology Limor Nakar- Vincent
1668 OncoHost RayBiotech Life Tal Kelem
1669 Raicol Crystals Qubitekk Eitan Yudilevich
1640* 3PLW Corumat Tal Kelem
1644* IAI Headwall Photonics Limor Nakar- Vincent
1654* Snappers Turner Studios Tal Kelem
* Approved in June 2019
December 2020
2
BIRD Ref. IS company US Company PBC(Primary BIRD Contact)
7102 3DBattery NEI corporation Limor Nakar- Vincent
7104 Chakratec Blink Charging Co. Limor Nakar- Vincent
7105 EcoPlant Atlas Machine and Supply Limor Nakar- Vincent
7107 Elbit Systems Ballard Unmanned Systems Tal Kelem
7108 Eta-Bar Adesto Technologies Limor Nakar- Vincent
7109 Exency Brayton Energy Tal Kelem
7113 Netafim Irrigation Polaris Energy Services Eitan Yudilevich
7115 Ramot at Tel-Aviv U Gas Technologies Omer Carmel
7117 Zero Energy SolutionsDriftwood Hospitality Management
Limor Nakar- Vincent
BIRD Energy Approved ProjectsOctober 2020
3
BIRD Ref. IS company US Company PBC(Primary BIRD Contact)
3029 Blue White Robotics Easy Aerial Tal Kelem
3030 Cawamo LiveView Technologies Limor Nakar- Vincent
3034S.H Goren Management and Innovation
3AM Innovations Eitan Yudilevich
BIRD HLS Approved ProjectsOctober 2020
4
BIRD Press Release
5
BIRD Press Release
6
BIRD Energy Press Release
7
8
BIRD Energy Press Release
BIRD HLS Press Release
9
10
BIRD HLS Press Release
Natalie Galperin Fin
Chief Financial Officer
Chava Doukhan Off.
Office Manager
Limor Nakar-Vincent PBC
Deputy Executive Director of
Business Development &
BIRD Energy
Moran Lazar Fin
Financial Manager
Oshrat Attias Off.
Administrative Assistant
Tal Kelem PBC
Director of Business Development
Maha Wakileh IT
Information Systems Manager
Ron Maron, Ph.D. PBC
Senior Director of Business
Development
Omer Carmel PBC
Director of Business Development
Headquarters - Israel U.S. OfficesMain Telephone Number: 972-3-6988300
West Coast (California)
Maya Vardi Shoshani
Director of Business Development
West Coast
East Coast & Midwest (New Jersey)
Andrea Yonah
Director of Business Development
East Coast & Midwest
Eitan Yudilevich, Ph.D.
Executive Director
PBC
BIRD Foundation Staff
12
Guidelines & Forms Fiscal & Technical Seminar & Handouts
Documents on BIRD’s website
13
Documents on BIRD’s website
Guidelines & Forms Procedures & Submission Forms Entire Procedures Handbook
14
Documents on BIRD’s website
Guidelines & Forms Procedures & Submission Forms Entire Procedures Handbook
15
Documents on BIRD’s website
Guidelines & Forms Procedures & Submission Forms Reporting
Topics for Discussion
BIRD in a nutshell
Immediate steps towards signing the Cooperation and
Project Funding Agreement (CPFA)
Reporting:
• Upload System
• Project Time Frame & Reports Timing
• Structure & Content of Technical Reports
• Final Technical Report
Frequently asked questions Ph
oto
by
Rau
l Pe
trio
nU
nsp
lash
16
Binational Industrial Research and Development
Conditional grants for joint U.S.-Israeli R&D projects
Funding of up to $1M up to 50% of R&D expenses (non-dilutive funding, no transfer of IP rights)
Repayments as royalties only if the project generates revenues
3 programs: BIRD, BIRD Energy, BIRD HLS (Homeland Security)
17
BIRD in a Nutshell
BIRD in a Nutshell - Why BIRD?
● Funding
● Risk sharing - willing to invest in high risk technologies that require longer time to market.
● “Stamp of approval” – review of the project by external organizations such as NIST* and IIA**
● Commitment - accelerates delivery and time to market
* National Institute of Standards and Technology at the US Department of Commerce** Israel Innovation Authority
Flags by :www.webdesignhot.com18
BIRD in a Nutshell –How do we evaluate projects?
Flags by :www.webdesignhot.com
● Innovation (Technology)
● Synergy between companies
● Market opportunity
● Go to market strategy / commercialism
19
Before signing the CPFA(Cooperation and Project Funding Agreement)
20
Ph
oto
by
Jo
an
na
Ko
sin
ska
on
Unsp
lash
21
What is Needed in Order to Obtain the Approved Grant Money?
► Adjusted budgets Should equal twice the approved grants, original ratio should be kept
► Adjusted program plan (Gantt) Reflect updated project start date - “Effective Date”
► Missing details supplied as instructed by Ms. Chava Doukhan, BIRD’s Office Manager (03-6988307)
► Signed copy of relevant company-company agreement
22
What is Needed in Order to Obtain the Approved Grant Money?
► Financial Status Analysis private companies only, provide substantiating material
► Finalization of CPFA details – issued by BIRD
► CPFA is circulated with the companies for signaturethree copies sent by BIRD to the Israeli company, BIRD is last to sign
BIRD executes first grant payment to each company
23
Critical Dates of a BIRD Project
Project ‘Effective Date’“The effective date of this Agreement shall be the _____ day of _______, 20__ The development work shall commence on the aforementioned date and, unless sooner terminated by the Foundation in accordance with Section I, the
development work shall terminate ____ months following the effective date”
Project ‘Termination of Product Development’ date “The conclusion of the Product Development pursuant to and in accordance with the Proposal, including the Product being ready for commercialization”
CPFA signing date Don’t confuse this with the project start date, known as – ‘Effective Date’!
Reports
24
Image by Tumisu from Pixabay
25
Project Structure & Report TimingProject duration (example): 18 months, 3 segments X 6 months
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
FIRST SEGMENT
PROJECT SECOND SEGMENT
STARTS THIRD SEGMENT
Interim Report: a joint technical report, fiscal from each company
Interim 1 - Report due 1 month after the end of 1st segment
Interim 2 - Report due 1 month after the end of 2nd segment
Final report (interim report + marketing) - due 2 months after end of project
Project Start is defined in CPFA
as: “Effective Date”
“Termination Date”
Interim Report Due Final Report DueInterim Report Due
Reports: Guidelines
If you are using acronyms or abbreviations in your report, kindly
provide the glossary of terms
Please read the directions clearly and prepare the reports “by the
book”.
At the end of the project, a questionnaire will be sent to the
companies
If you have questions - give us a call!
26
Ph
oto
by
An
toin
e Barrè
so
nU
nsp
lash
27
Need for Technical Reports
Monitoring the project’s progress
Determination of BIRD’s payment to grantees
Tool for companies to manage their joint R&D activities
Requirement of “Cooperation & Project Funding Agreement”
28
Reports: Upload System
Log In
29
Reports: Uploading Documents
30
Uploading Files
Reports: Uploading Documents
We require
uploading the technical and fiscal reports
and
one hard copy sent to our office
31
Reports: Uploading and Copies
Photo by freestocks.org on Unsplash
32
Standard Report Cover Page (BIRD Procedures & Forms tab in website)
Technical Reports: Content
33
1. Report Cover Page (BIRD Procedures & Forms tab on website)
2. Table of Contents
3. Objectives:
• of the project
• of the segment covered by report
4. Summary of Accomplishments:
including milestones attained and deliverables
compare the accomplishments with the objectives (stated above)
5. Results:
• on a task-by-task basis
• deviations from the Program Plan
• implications of modifications on the developed product
Technical Reports: Content (see Procedures Handbook )
Image by Arek Socha from Pixabay
34
Technical Reports: Content (see Procedures Handbook )
Image by Arek Socha from Pixabay
35
6. Plans for Next Project Segment
• Rescheduling or additions to activities
• Impact of changes on original Program Plan
7. Graphical Comparison of Results vs Program Plan
• In a graphical form (Gantt chart, Microsoft Project) show tasks & time-schedule deviations from Program Plan (Annex D of CPFA)
Technical Reports: Content
36
Technical Reports: Content
37
8. Cooperation Between the Companies
• Communication & coordination of activities
• Mutual benefits from integrated work
• Corrective measures taken and needed
Technical Reports: Content
Ph
oto
by
Jo
sh
Ca
lab
rese
on
Unsp
lash
Developing a Successful Partnership: Guidelines
Identify the undercurrents and importance of the project outcome for your partner
Recognize cultural differences and the different skills of the parties
Manage the Relationship across the Network:
• Develop communication routes, not a single one
• Develop agreed procedures in case of challenges
• Create formal and Informal relationships
between the companies
Invest the Time and Effort, it is critical not less than technology!
3838
9. Risk Analysis
• Proposal - original Risk Analysis Table
• Updated Risk Analysis Table
• Add explanation
39
Impact
Commercialization PotentialBudgetDurationRankingName
MediumMediumMediumMedium“Coating does not meet all requirements”
Medium Low Medium Low “Concept of Operation is not acceptable by the FAA”
New evaluation of the risk: Segment 1”Concept of Operation is not acceptable by the FAA” - Increased Risk
Technical Reports: Content P
ho
to b
yJa
red
Ric
eo
nU
nsp
lash
10. Market and Commercialization Plans
• Changes in market potential or sales forecast
• Impact of market changes on Program Plan
40
Technical Reports: Content
Ph
oto
by
Sa
mu
el Z
elle
ro
nU
nsp
lash
10. Published Information
• Articles in professional literature
• Patents
• Press releases
41
Technical Reports: Content
Example of PR’s
42
Example of PR’s
43
CPFA - Publications
44
45
Final Technical Report
Part I:
Same as in Interim Reports
(except section 5 - Plans for Next Project Segment )
Including Future Activities:
● Future development work planned
(jointly/separately) related to the Product
● Marketing activities to be undertaken,
(jointly/separately) as part of the
Product sales efforts
Ph
oto
by
Jo
n T
yso
no
nU
nsp
lash
46
Part II: Updated Marketing Forecast
Requires a separate signed cover page!
Final Technical Report
Ph
oto
by
Daig
aE
llab
yo
nU
nsp
lash
47
Part II: Updated Marketing Forecast
Re-definition of relevant products / applications
Market acceptance of product
Commercialization forecasts
Updated 3 years market size & sales forecast
Comparison with forecast in proposal
New products opportunities
Future joint activities planned by companies
Final Technical Report
Ph
oto
by
Daig
aE
llab
yo
nU
nsp
lash
48
Updated Marketing Forecast
49
Updated Marketing Forecast (Handbook page 52)
Frequently asked questions
50
Ima
ge
by
Ge
rdA
ltma
nn
from
Pix
ab
ay
51
Common Questions Asked
Actual progress is slower than Program Plan:
Do I submit TR as scheduled? YES
Actual spending is less than forecast:
Do I submit TR as scheduled? YES
Actual spending is greater than forecast and actual
progress is same as or ahead of Program Plan:
Do I submit TR as scheduled? SEE PBC
Only TR/Fiscal report is ready:
Will submitting TR without fiscal reports for same period, or submitting
fiscal reports without TR reports be of any advantage? NO
Photo by Tom Plouff on Unsplash
52
What happens if the project scope changes?
Advise PBC in writing/meeting
Request formal (written) modification
by both companies
→ Include fiscal implications
→ Include new program plan
What happens if more time is needed to complete the project?
Advise PBC in writing/meeting
Submit formal (written) request by both companies
→ Include reasons for delay, and implications
→ Include extended program plan
What happens if project is completed ahead of schedule?
Complete and submit reports
Common Questions Asked
Photo by Tom Plouff on Unsplash
The BIRD Team Wishes You
a Successful Joint Project