Raleigh, N.C., April 26, 2017 – LUMEOVA, Inc, an innovator of ultra-fast, wireless connectivity solutions, today announced that it has been awarded a $25,000 entrepreneurship grant from the North Carolina State University (NCSU) Daugherty Endowment after winning the first-prize in the NCSU sponsored Lulu eGames competition among participating start-up companies.
“We are truly delighted and honored to have been selected as the winner of the 2017 Daugherty Endowment first prize grant among a number of innovative start-up companies participating in the competition,” said Dr. M. Ali Khatibzadeh, President & CEO of LUMEOVA. “The award which will support development of our innovative wireless technology is another important validation of our business plan and the high-impact potential of our technology and product.”
Daugherty Endowment Fund is a N.C. State University endowment fund established to bridge pure research and product commercialization for affiliated start-up companies. The Richard L. and Marlene V. Daugherty Centennial Campus Entrepreneurialism Endowment honors the retired IBM executive, who ran the company’s Research Triangle Park area operations for 23 years, and his wife. Daugherty is a trustee of the Kenan Institute at NC State and board member for the university’s Entrepreneurship Initiative. He also served as director of the Centennial Campus Partnership Office.
About LUMEOVA, Inc.
LUMEOVA, Inc is solving tomorrow’s connectivity challenges today with high-performance optical wireless technology. Headquartered in Raleigh, N.C., the Company designs innovative semiconductor solutions to meet the growing wireless data demands of consumer electronics and infrastructure markets. With optical technology that multiplies wireless data speeds, LUMEOVA is helping to redefine wireless connectivity for new generation of smartphones, tablets, wearable devices, televisions, virtual reality and 5G wireless backhaul equipment. For more information, visit www.lumeova.com