Michigan Israel Business Bridge Seeks Funds

November 21, 2017 | The Michigan Israel Business Bridge seeks public and private funding to rebrand itself as the Michigan Israel Business Accelerator in order to push more investment between Israel and Michigan in the areas of manufacturing, mobility, defense, life sciences, and more. Michigan managing partner for Deloitte and board member Mark Davidoff said the rebranded organization will begin operating on December 1. MIBB seeks an operating budget of $1 million to hire staff, add staff in Michigan and Israel, and open an office in downtown Detroit in the first quarter of 2018. The organization also wants to develop new programs to connect Israeli startups with Michigan corporations. Funding may come from various sources, including the Michigan Economic Development Corporation, but not all public funding details are determined yet. Israel is the 19th largest importer to Michigan, with only .03 percent of total imports, but its tech and knowledge-based economy provides unique opportunities, Davidoff said.