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Syndiant Receives $3.5 Million Investment from Texas Emerging Technology Fund; Recruiting to Fill New Jobs
DALLAS March 9, 2009 – Syndiant, enabling consumers to enjoy a large screen experience in handheld electronics, received a Technology Commercialization Award of $3.5 million from the Texas Emerging Technology Fund (TETF). The funding will be used to advance the production of Syndiant’s VueG8 (“ViewGate”) display products for embedded pico projectors, as well as add engineering staff to its Texas-based headquarters.
“We are pleased to be chosen as a recipient of the Emerging Technology Fund and believe this is strong endorsement of our technology, which offers consumers significant advancement in display technology for embedded pico projectors,” said Mark Harward, CEO of Syndiant. “The funding will expedite the commercialization of our technology, accelerate the market acceptance of next-generation, embedded pico projectors and enable us to create job opportunities at Syndiant.”
The first funding tranche (out of two) will enable Syndiant to hire six additional engineers, expand its U.S. and International patent filing activity, and engage with the Center for Integrated Circuits and the Materials Science Department at the University of Texas at Dallas.
North Texas Regional Center for Innovation and Commercialization (NTXRCIC) Director, Mike Lockerd, who is responsible for assisting companies with the Emerging Technology Fund application process stated, “The selection committee gives priority to companies with technology that will disrupt the marketplace. We believe Syndiant has the ability to do this and, by providing resources and capital to help bring their technology to market, we are helping Texas maintain a strong position in our highly competitive global economy.”
Syndiant manufactures the world’s smallest and highest resolution light modulating chips used in ultra-portable projectors small enough to embed in a cell phone. Syndiant’s patented technologies will provide a large screen experience in handheld electronics, such as smartphones, notebook computers, portable media players, video game consoles and cameras. The company is headquartered in Dallas, with a branch office in Taiwan. For more information, visit www.syndiant.com.
About the Texas Emerging Technology Fund (TETF)
The $200 million Texas Emerging Technology Fund was initially enacted by the Texas Legislature in June 2005 to expedite the commercialization of innovations, create and establish private sector entities that will increase high-quality jobs and increase applied research projects for Texas Institutions of Higher Education (IHE). The TETF assists early-stage companies with the commercialization of a scientific-breakthrough with the potential to disrupt the market, provide economic development stimulus and new, high-value jobs for the state. TETF also matches grants for the development of emerging technologies with substantial commercial potential and the acquisition of research talent for Texas IHE(s).
About the North Texas RCIC (NTXRCIC)
The North Texas Regional Center for Innovation and Commercialization (NTXRCIC) is one of six regional agents for the ETF. The NTXRCIC is a 501(c) (3) not-for-profit corporation that works to identify technology-based entrepreneurial ventures, increase cooperation between industrial, financial, and Institutions of Higher Education and encourage the formation of commercial enterprises based on advanced technologies. As a resource to its client companies, the NTXRCIC has a full-time staff, experienced volunteers and a strong resource partner organization network. For detailed information about the Emerging Technology Fund and the North Texas RCIC, visit the web site. www.ntxrcic.org.