Michigan Israel Business Accelerator Foundation

The Michigan Israel Business Accelerator Foundation (MIBAF) is a nonprofit organization classified under Section 501(c)(3) of the Internal Revenue Code. Established with the purpose of fostering commerce and industry between the state of Michigan and Israel, MIBAF plays a crucial role in promoting economic growth in both regions.

Mission

The primary mission of MIBAF is to attract high-growth Israeli technology companies to explore business expansion opportunities in Michigan and to encourage Michigan's own high-growth technology companies to venture into Israel's business landscape. This is achieved by advancing Michigan's innovation ecosystem through strategic connections with Israeli businesses.

Impact

MIBAF has facilitated numerous connections and collaborations between Michigan and Israeli companies. In 2022, MIBAF and its affiliated organization, the Michigan Israel Business Accelerator (MIBA), supported over 400 companies. Their efforts extended to strengthening working relationships with economic development entities across Michigan and Israel, through business connections, trade missions, and community engagement events.

Key Initiatives

MIBAF works in concert with MIBA to create opportunities for Israeli companies to expand into the U.S. market, leveraging Michigan's strategic location and business-friendly environment. Key areas of focus include mobility, defense, health tech, sustainability tech, and food/ag tech.

Programs and Services

MIBAF's initiatives are complemented by MIBA's programs, such as The Elevator, a U.S. landing zone exclusively for Israeli companies. This initiative provides rent-free office space and essential amenities, offering a supportive environment for startups to flourish in Michigan.

Financial Transparency

MIBAF is recognized for its operational transparency, having submitted Form 990, which is required of tax-exempt organizations in the U.S. This transparency indicates adherence to regulatory requirements. Additionally, MIBAF reports no executive compensation, professional fundraising fees, or other salaries and wages.