How does the TRIDE Fund operate?
TRIDE cost-shares with the companies up to 50% of the development costs, to the point of commercial readiness, of innovative technology-based products or processes which have reasonable potential for generating revenues.
Development budgets typically range between $1-2 million over a period of 1-2 years. Repayments of the grant received are made only from revenue generated from the developed product, without any additional profit-sharing. If there are no revenues, no repayment is required.
Applying for a TRIDE Project:
Once the companies have decided to collaborate, they jointly submit a brief executive summary of the proposed project. Following a quick review, the TRIDE staff advises the companies on whether they should submit a full proposal. The TRIDE Executive Committee approves full-scale projects. The approval is based on the review by the U.S. National Institute of Standards and Technology (NIST), the Office of the Chief Scientist (OCS) of Israel's Ministry of Industry, Trade and Labor & the Royal Scientific Society (RSS) of Jordan.
TRIDE was jointly established by the U.S., Israeli and Jordanian governments and is managed by the BIRD Foundation, drawing its objectives and its operating modes from the proven success of the BIRD Foundation over its 30 years of existence.