technical & fiscal reporting seminar

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Technical & Fiscal

Reporting Seminar

Presentation to New Grantees of

BIRD Foundation

February 2017

BIRD Approved Projects - Dec 2016

BIRD Ref. IS company U.S. Company PBC*

1549 Dotz Nano Ltd. Pflaumer Brothers Inc.

RM

1552 Evogene Ltd. KeyGene Inc.

YW

1556 Motorola Solutions Israel Ltd. Eclipse Identity Recognition Corporation

LNV

1558 NovellusDx Ltd. Christiana Care Health Services, Inc.

RM

1559 Pluristem Ltd. New York Blood Center

EY

1561 Vimmi Communications Ltd. Tech Mahindra Technologies Inc.

LNV

1562 Voiceitt -Technologies of Voice

Interface Ltd. SCJ Associates, Inc. LNV

1563 Westham Ltd. The Terminix International Company

Limited Partnership RM

PBC = Primary BIRD Contact

BIRD – Israel-U.S. Binational Industrial R&D

Foundation to invest $7.2 million in 8 new projects

BIRD Energy Approved Projects -

October 2016

BIRD Ref. IS company U.S. Company PBC*

7073 BrightSource Industries (Israel) Ltd. Dynamis Engineering LLC EY

7074 CelDezyner Ltd. POET Research Inc. YW

7077 Solview Systems Ltd. Yarotek PR, LLC LNV

7078 Technion R&D Foundation Ltd. Pajarito Powder, LLC EY

7080 Waves Audio Ltd.

Virginia Polytechnic Institute

and State University EY

PBC = Primary BIRD Contact

BIRD Energy to invest $4 Million in

Cooperative Israeli - U.S. Clean Energy Projects

BIRD Foundation - Organizational Chart

Executive Director

Dr. Eitan Yudilevich

972-3-6988302

Senior Admin. Assistant

Ms. Einat Spivak

972-3-6988300

CFO

Ms. Natalie Galperin

972-3-6988305

Deputy CFO

Mr. Asaf Keren

972-3-6988308

Director for BD

East Coast & Midwest

Ms. Andrea Yonah

609-633-8600

Director for BD

West Coast

Ms. Maya Vardi Shoshani

650-752-6485

CBO

Dr. Yuval Weiss

972-3-6988304

Deputy Exec. Director

for BD & BIRD Energy

Ms. Limor Nakar-Vincent

972-3-6988315

Senior Director BD

Dr. Ron Maron

972-3-6988306

Information Systems Mgr.

Ms. Maha Wakileh

972-3-6988303

Office Manager

Ms. Chava Doukhan

972-3-6988307

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Topics for Discussion

Immediate steps towards signing the Cooperation and Project Funding Agreement (CPFA)

How to work with us

Reporting:

Project Structure & Reports Timing

Structure & Content of Technical Reports

Final Technical Report

Common Questions Asked

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Where, What

All the documents related to the F&T seminar could be found on our website

Homepage Guidelines & Forms Fiscal & Technical Seminar & Handouts

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What is Needed in Order to Obtain the

Approved Grant Money

► Adjusted budgets - Should equal twice the approved grant. The original ratio should be kept

► Adjusted program plan (Gantt) - To reflect updated project start date (“Effective Date”)

► Missing details supplied - as instructed by Ms. Chava Doukhan

► Signed copy of relevant company-company agreement submitted

► Financial Status Analysis - private companies only. Provide substantiating material

► Finalize CPFA details – filled in by BIRD

► CPFA is circulated by the companies for signature – three copies sent by BIRD to the Israeli company. BIRD’s Executive Director is last to sign

BIRD executes first grant payment to each company

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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 (XX)

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’!

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Project Structure & Report Timing Project Duration: 1.5 years

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

Project will have 3 segments of 6 months each

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 due 2 months after the end of the project

Interim

Report

due

Project Start is defined in CPFA

as: “Effective Date”

Project End is defined in CPFA

as: “Termination Date”

Interim Report Due Final Report Due

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Content of Technical Reports (see ‘Procedures Handbook’)

Standard Report Cover Page (BIRD Procedures & Forms tab in web site)

Make sure that it

is signed by both

companies

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Content of Technical Reports (see ‘Procedures Handbook’)

1. Report Cover Page (BIRD Procedures & Forms tab in web site)

2. Table of Contents & Glossary Terms

3. Objectives

• Of the project

• Of the segment covered by report

4. Summary of Accomplishments

5. Results

• On a task-by-task basis – as presented in the proposal

• Deviations from the Program Plan

• Implications of modifications on the developed product

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Content of Technical Reports (continuation)

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 graphical form (Gantt chart, Microsoft Project) Show tasks & time-

schedule deviations from Program Plan (Annex D of CPFA)

Acceptable Gantt

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Show original Program Plan

Show past and planned task rescheduling

Show % task completion to date

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Contents of Technical Reports (continuation)

8. Cooperation Between the Companies

• Communication & coordination of activities

• Mutual benefits from integrated work

• Corrective measures taken and needed

For Example:

During the 6 months we exchanged a lot of scientific information

between the two companies. This included face-to-face meetings in

Boston, as well as conference calls and data-exchanges by email. The

relationship between the two parties grew markedly stronger with the

face-to-face meetings, but this improved cooperation cannot serve XX for

it immediate important practical goals for the coming months.


9. Risk Analysis

• Proposal - original Risk Analysis Table

• Updated Risk Analysis Table

• Add explanation

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Impact

Commercialization

Potential Budget Duration Ranking Name

Medium Medium Medium Medium

“Concept of Operation is not

acceptable by the FAA -

revised

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


10. Market and Commercialization Plans

• Changes in market potential or sales forecast

• Impact of market changes on Program Plan

11. Published Information

• Articles in professional literature

• Patents

• Press releases

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Example of PRs

Other Requirements & Suggestions

If you are using acronyms or abbreviations in your report, kindly

provide the glossary of terms.

Although we require a hard copy sent to our office, please

provide us with a soft copy as well.

Please read the directions clearly and prepare the reports “by

the book”. If you have questions- give us a call!

In the end of the project, a questionnaire will be sent to the

companies.

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Part I:

Same as in Interim Reports (excl. section 5)

Including Future Activities;

• Future development work planned, jointly and/or

separately, related to the Product.

• Marketing activities to be undertaken, either jointly

and/or separately, as part of Product sales efforts

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Part II: Updated Marketing Forecast

Requires a separate signed cover page!

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

Updated Marketing Forecast – Cover Page

(formerly: Technical Report – PART II)

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Updated Marketing Forecast

Product name: (1)

Product description, including key specifications, features and performance

characteristics:

Extent to which product was developed within the scope of the BIRD project:

Market / application name: (A)

Describe the market and specific applications to which the product will be targeted:

Describe to what extent has this market / application changed relative to the one

referred to in the proposal, and why:

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Updated Marketing Forecast (Handbook pages 48-49)

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Commonly Asked Questions

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

Will submitting TR without fiscal reports for same period, or submitting

fiscal reports without TR reports be of any advantage? NO

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Commonly Asked Questions (cont.)

What happens if the program direction (scope) changes?

Advise PBC in writing/meeting

Request formal (written) modification by both co.’s

Include fiscal implications

Include new program plan

What happens if more time is needed to complete 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

A critical measure for a successful project is the working

relationship between the companies

not only the technical aspects of the joint development !!!

Evaluation of Projects-

Other Than Revenue Reasons

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The BIRD team wishes you all

Successful Cooperation and

Commercialization of the

Joint Project

technical & fiscal reporting seminar

Documents