Three high-tech companies based at NJIT's Enterprise Development Center (EDC) took top awards at the recent 2012 Venture Conference sponsored by the New Jersey Technology Council.
Endomedix, Inc., a medical device company received the notable laurel "best life science company." The company recently received its first issued patent for technology to produce chemical solutions composed of natural biomaterials. Surgeons can spray or syringe solutions onto a surgical site, and the solutions will form hydrogel devices in situ within 15 seconds.
The first device will be a spray-on surgical hemostat to control bleeding during surgery and will be indicated for use in brain surgery. The device is expected to shorten the typical craniotomy procedure by 30 minutes. This will translate into less time for the patient's skull to be open and less anesthesia, reducing morbidity and the possibility of infection. The device is expected to save hospitals more than $3000 per case and will be easier to store and use. "Endomedix has developed a platform technology that it's spinning into a series of related medical devices, to improve surgical procedures and outcomes in existing markets without requiring surgeons to learn new techniques. It's exciting to push through milestones toward commercialization and bring savings and improvement in a $3 billion market," said President and CEO Richard Russo.
Allweb Technologies Inc., which is focused on addressing the password overload and identity fraud challenges for online web users and enterprises, received the "best information technology company" award. The flood of passwords required to log into websites is causing major issues such as forgotten passwords, account lockdown and more for web users. The use of simpler passwords is resulting in increased user identity fraud. Companies and other organizations incur significant expenses from help desk support for password resets and employee lost productivity. Allweb CEO and co-founder Adnan Qadeer established the company to create an identity management eco-system to eliminate the need to remember passwords.
The company soon hopes to launch the first and only cloud-based service for password management with the security and convenience of two-step user identity authentication in real time. The system will use biometrics-based user identification. The company has also developed one of the fastest, most scalable and highly accurate fingerprint matching systems that can be used for real-time individual identification applications in the public and private sectors.
ATC Labs received the best communications company award. The company, which is based in New Jersey and India, has a proven technology platform in audio and visual compression and processing. "One of our key customers, Sirius XM, achieved a nearly 30 percent gain in the bandwidth efficiency on its Sirius Satellite audio service using our technology," said ATC Labs President Deepen Sinha, PhD. ATC recently launched three products for Internet Radio, and the rapidly-expanding FM broadcasting industry in India, where 800 new stations are projected to be on the airwaves.
ALCO ProfessionalTM delivers top-quality content from broadcast field reporters via the Internet to viewers and listeners. It works with its own low-delay audio coding and processing for enhanced sound fidelity and robustness. Although it can work with any Internet connection, optimal performance for 2G/3G wireless connections is its core strength.
Perceptual SoundMaxTM Audio Processor is a 24-band rack-mount novel audio processor. "It's designed to produce a cleaner, fuller, and livelier sound," said Sinha. Packed with tools for improving listener experience, it makes it a breeze for broadcasters to attract and hold listeners' attention.
The Perceptual ACE-HD Video Encode Server is a real-time MPEG4/MPEG2 encoder product for Internet Streaming and Video-On-Demand. Features include a wide selection of video and audio bit rates, HD video encoding, multiple audio format support (MP2/MP3/AAC/AAC+), SDI/HDMI input interface, and TS/MP4 encapsulations.
NJIT, New Jersey's science and technology university, enrolls more than 9,558 students pursuing bachelor's, master's and doctoral degrees in 120 programs. The university consists of six colleges: Newark College of Engineering, College of Architecture and Design, College of Science and Liberal Arts, School of Management, College of Computing Sciences and Albert Dorman Honors College. U.S. News & World Report's 2011 Annual Guide to America's Best Colleges ranked NJIT in the top tier of national research universities. NJIT is internationally recognized for being at the edge in knowledge in architecture, applied mathematics, wireless communications and networking, solar physics, advanced engineered particulate materials, nanotechnology, neural engineering and e-learning. Many courses and certificate programs, as well as graduate degrees, are available online through the Division of Continuing Professional Education.