Raleigh, N.C., July 15, 2015 – LUMEOVA, LLC, an innovator of ultra-fast, optical wireless connectivity solutions, today announced that it has been awarded a grant from the Office of Science, Technology & Innovation of the North Carolina Department of Commerce.” The grant is awarded under the One N.C. Small-Business program and will support development of LUMEOVA’s technology and accelerate product introduction to market.
“We are pleased and excited to have been selected as a recipient of this grant from the State of North Carolina Office of Science, Technology & Innovation,” said Dr. M. Ali Khatibzadeh, President & CEO of LUMEOVA. “The funding from this grant will support the development of our innovative wireless optical technology and help accelerate our products introduction to market.”
The global reach of social networking powered by smartphones and tablets capable of capturing and displaying ultra-high-definition (4K) video content is creating an explosive demand for wireless data. Current generation WiFi and cellular devices are struggling to keep up with wireless data demand due to lack of available and suitable radio spectrum. LUMEOVA is developing innovative, ultra-fast, wireless optical devices to meet the rapidly growing demand of wireless connected devices.
Key Facts and Highlights:
- According to Cisco VNI Global Mobile Data Traffic Forecast, mobile data traffic is forecasted to more than quadruple by 2020 and experience 53% compound annual growth rate (CAGR) during the next 5 years.
- IDC forecasts that over 2 billion smartphones and tablets will be sold annually by 2018.
- Current generation WiFi (802.11ac) devices today can support up to 0.8 Giga-bits-per-second (Gbps) data throughput. New generation WiFi (802.11ax) can deliver 1.7 Gbps over existing 2.4GHz and 5GHz unlicensed bands.
- Next-generation 5G radio cellular technology is being defined to deliver 1 Gbps data connectivity and enhanced services to mobile devices.
- Live streaming of ultra-high-definition (4K) video without compression and loss of quality requires nearly 20 Gbps connectivity!
About the One North Carolina Small Business Program
Under this program, the Office of Science, Technology & Innovation under the auspices of the N.C. Department of Commerce awards matching grants to N.C. based small businesses and start-up companies that have successfully been awarded a federal Small Business Innovation Research/Small Business Technology Transfer (SBIR/STTR) grant. The program supports start-up companies with seed-stage capital and help them commercialize their products and create growth and employment opportunities for North Carolina.
About LUMEOVA, LLC
LUMEOVA 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