Raleigh, N.C., February 2, 2015 – LUMEOVA, LLC, an innovator of ultra-fast, wireless connectivity solutions, today announced that it has received an entrepreneurship grant from the N.C. State University Daugherty Endowment. The grant is awarded to start-up companies affiliated with the University, to help bridge early-stage technology development to product commercialization.
“We are honored to have been selected as a recipient of the Daugherty Endowment Grant, which is an important validation of LUMEOVA’s business plan,” said Dr. M. Ali Khatibzadeh, President & CEO of LUMEOVA. “The grant will support development of our innovative wireless technology and help accelerate the introduction of our products to market.”
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, LLC
LUMEOVA is solving tomorrow’s connectivity challenges today with high-performance 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