"We are happy to receive encouragement from our peers that our business plan and technology have merit," said Urovalve, Inc. President and Chief Executive Officer Harvey D. Homan, PhD.
"We hope this kind of attention can increase our odds for future funding and support from the business community."
Urovalve, Inc. is a fledgling enterprise that holds patents on a device which can be implanted through the urethra into the bladder via a simple procedure that does not require surgery. The device contains a metal valve which opens whenever the user wants and is activated by a pocket-sized magnetic wand the user carries.
Urovalve's device will improve the quality of life for men who cannot urinate due to nerve damage, disease or physical problems that affect the urethra. "About 4.5 million men in the U.S. are believed to suffer from these problems," said Homan. For more information about Urovalve, please visit: http://www.urovalve.com
The EDC is a high-tech business incubator program that was the first of its kind in New Jersey. Since 1988, the EDC has helped inventors move innovative products out of the lab and into the marketplace. The program, housed in a trio of Newark buildings, provides office and laboratory space, financial help, business and technical services, and the shared expertise of the center's managers. Goals include reducing risk for fledgling entrepreneurs while creating businesses that will generate jobs and bolster New Jersey's economy.
New Jersey Institute of Technology, the state's public technological research university, enrolls more than 8,200 students in bachelor's, master's and doctoral degrees in 100 degree programs offered by six colleges: Newark College of Engineering, New Jersey School of Architecture, College of Science and Liberal Arts, School of Management, Albert Dorman Honors College and College of Computing Sciences. NJIT is renowned for expertise in architecture, applied mathematics, wireless communications and networking, solar physics, advanced engineered particulate materials, nanotechnology, neural engineering and eLearning.