technical & fiscal reporting seminar · interim report: a joint technical report, fiscal from...
TRANSCRIPT
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Technical & Fiscal Reporting
Seminar
Given to New Grantees of
the BIRD Foundation
July 2018
Tal Kelem
Business Development
BIRD Approved Projects - June 2018
BIRD
Ref. IL company US Company PBC
(Primary BIRD Contact)
1606 ARTsys360 Ltd. ECSI International Inc. Limor Nakar-Vincent
1608Correlor Data Science
Intelligence Ltd. Advanced Energy Inc. Tal Kelem
1610 Diamond Valley Ltd. Ion Beam Milling Inc. Dr. Eitan Yudilevich
1611 DouxMatok Ltd. American Sugar Refining Inc. Dr. Ron Maron
1612 Manam Applications Ltd. AviSight Inc. Tal Kelem
1614 OxiTone Medical Ltd. Cigna Corp. Dr. Ron Maron
1615 Pixellot Ltd. HockeyTech Inc. Dr. Ron Maron
NextGen First Responder Technologies
Projects Approved - June 2018
BIRD Ref. IS company US Company PBC(Primary BIRD Contact)
3023 ELTA Systems Ltd. and TLC Solutions, Inc. Tal Kelem
3024 HiRiseTech Ltd. Allstate Sprinkler
CorporationLimor Nakar-Vincent
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IRD
BIRD to Invest $6.3 Million in 7 New Projects
BIRD Staff
Eitan Yudilevich, Ph.D.
Executive Director
Natalie Galperin
Chief Financial Officer
Limor Nakar-Vincent
Deputy Executive Director of Business
Development & BIRD Energy
Ron Maron, Ph.D.
Senior Director of Business
Development
Tal Kelem
Director of Business Development
Chava Doukhan
Office Manager
Moran Lazar
Financial Manager
Oshrat Attias
Administrative Assistant
Maha Wakileh
Information Systems Manager
Main Telephone Number: 972-3-6988300
West Coast
(California)Director of Business Development
West Coast
Maya Vardi Shoshani
East Coast & Midwest
(New Jersey)
Director of Business Development
East Coast & Midwest
Andrea Yonah
Headquarters - Israel U.S. Offices
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Guidelines & Forms Fiscal & Technical Seminar & Handouts
Documents on BIRD’s website
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Guidelines & Forms BIRD Procedures & Forms Entire Procedures Handbook
Documents on BIRD’s website
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Documents on BIRD’s website
BIRD Procedures & Forms Entire Procedures Handbook
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Topics for Discussion
Immediate steps towards signing the
Cooperation and Project Funding Agreement (CPFA)
Reporting:
• Upload System
• Project Structure & Reports Timing
• Structure & Content of Technical Reports
• Final Technical Report
Commonly asked Questions
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Before signing the CPFA(Cooperation and Project Funding Agreement)
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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
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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
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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 ____ 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
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Project Structure & Report TimingProject duration: 18 months, 3 segments of 6 months each
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
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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”
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Reports: Upload System
Log In
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Reports: Uploading Documents
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Uploading Files
Reports: Uploading Documents
We require
uploading the technical and fiscal reports
and
one hard copy sent to our office
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Reports: Uploading and Copies
Photo by freestocks.org on Unsplash
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Standard Report Cover Page (BIRD Procedures & Forms tab in website)
Technical Reports: Content
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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
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’)
Photo by Kevin Ku on Unsplash
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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)
Technical Reports: Content
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Technical Reports: Updated Gantt
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8. Cooperation Between the Companies
• Communication & coordination of activities
• Mutual benefits from integrated work
• Corrective measures taken and needed
Technical Reports: Content
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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!
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9. Risk Analysis
• Proposal - original Risk Analysis Table
• Updated Risk Analysis Table
• Add explanation
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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
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10. Market and Commercialization Plans
• Changes in market potential or sales forecast
• Impact of market changes on Program Plan
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Technical Reports: Content
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10. Published Information
• Articles in professional literature
• Patents
• Press releases
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Technical Reports: Content
CPFA - Publications
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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
and/or separately, related to the Product
● Marketing activities to be undertaken,
either jointly and/or separately,
as part of the Product sales efforts
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Part II: Updated Marketing Forecast
Requires a separate signed cover page!
Final Technical Report
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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
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Updated Marketing Forecast
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Updated Marketing Forecast (Handbook page 52)
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Updated Marketing Forecast (Handbook page 53)
Reports: Requirements/Suggestions
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”.
If you have questions - give us a call!
At the end of the project, a questionnaire will be sent to the
companies
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Common Questions Asked
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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
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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
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The BIRD Team
Wishes You All a
Successful Development &
Commercialization of the Joint Project