Business Finally, A Bank That Actually Wants To Work Hard For You. Scott J. Seligman, Chairman and Stephen H. Adams, Banking d' Commercial Lending Officer Most people know that Sterling Bank & Trust has a history of paying consistently competitive Annual percentage yield accurate as of 2/2/98 and subject to change without notice. $2,500 minimum balance required on money MONEY MARKET 4.60% interest rates. But do you also know that Sterling is a full-service bank, and can help you with your Elam's stay at Har Hotzvim was particularly beneficial because it enjoyed the support of leading high- tech firms like Intel and AVX. "Our initial prototype was devel- oped on Intel equipment," says Yoel Ganor, Elam's operations manager. Many Elam staff worked at Intel before joining the company. "The incubator made it easier to find investors and to link up with the chief scientist," says Ganor. "We learned how to present ourselves and draw up a business plan. The whole process was quicker than it would • have been if we'd done it alone." In June, Ms. Pridor announced that in the next few years, the incu- bators would be reduced from 26 to about 20, mostly through mergers. She gave many reasons for her deci- sion, but the two main ones are declining Russian immigration and a leveling off of ideas. When the incu- bator program began it received thousands of ideas a year. Over the past three years that figure has stabi- lized at 100 a year. Ms. Pridor insists that this is not a failure on the part of the program. "In the past we received many appli- cations which weren't workable. They were theoretical essays rather than business ideas. Today we get less, but the quality is higher. "We don't have a budget prob- lem," she adds. "We want to merge incubators in the same city or town to strengthen them." But not everyone believes incuba- tors are good for business. Some crit- ics complain that too many start-up companies divert resources from larg- er companies with more potential. Ms. Pridor denies this. "People involved in the incubator program often wouldn't have had a chance to be absorbed or employed elsewhere. "No one else would look at these proposals," agrees Rubenstein, waving- a recent two-page application in the air. "Venture capitalists want big busi- ness plans with figures and market predictions. They want projects close to capitalization in sexy fields like bio- medicine, medicine, Internet and Intranet. They aren't risk oriented. "The program definitely gives Israel's high-tech industry a head start," says Uzia Galil, chairman and CEO of Elron. "By allowing entre- preneurs to develop their ideas, it gives the industry a chance to see what they have to offer. This would- n't have been possible otherwise. The program is absolutely necessary." market accounts. Statement fees may reduce earnings if minimum balance is not maintained. ©1998 Sterling Bank & Trust, F.S.B. business banking needs, and help you plan your Sterling® financial future? These days, you need more than a different &trust bank. You need a smarter bank. And we're here We Create Solutions ,' and ready to help! Owned and operated by the Seligman Family Commerce Twp. (248) 669-3993 • Farmington Hills (248) 489-9580 Southfield (248) 948-8799 ••Troy (248) 649-3883 • West Bloomfield (248) 855-6644 15 branch locations throughout metropolitan Detroit FDIC Visit us on the web at vvwvv.sterlingbank.com INSURED, EOUAl. HOUSING LENDER a postage stamp yOu can f.let soffit of t best' CD rates: around, Plenty. Because now for the price it's the Michigan lleritaf, , e Bank CD by Mail. Just call for an application and drop it in the mail with a check. Simple. It could he the best 32 cents you'll ever invest . or 3.63% . AO% S,00% )1Assle Minimum $5,000 11t Minimum $500 *Unlimited Checkin g ! The Nlichigan Heritage Bank CD b ~ ' flail Stop in or call for an application today. 6/26 1998 U8 1-800-914-3524 21211 Ilaggerty Road at 8 Mile. Next to the Novi Hilton. 111411 el E3 MICHIGAN HERITAGE a r/la Cr FDIC (ENDER Insured 93 Annual Percentage livid is effective as of Feb. 22. 1998. Penalty for early A ithilraA al. Business or brokered acCounts not eligilile.