UA startup Codelucida receives $750K grant
Codelucida, a startup company born at the University of Arizona and University of Cergy-Pontoise, France, has been awarded a $750,000 Small Business Innovation Research Phase-2 grant from the National Science Foundation.
The Company previously completed a $150,000, six-month Phase-1 grant that made it eligible to apply for the competitive Phase-2 grant. The two-year grant is non-dilutive federal funding meant to further assist the company in its commercialization efforts.
Currently housed in the Arizona Center for Innovation at the UA Tech Park in Tucson, Arizona, Codelucida plans to continue developing a disruptive error-correction technology for next-generation solid-state drives, or SSDs. The innovative tech addresses a major need in the growing market, as SSDs face major reliability issues because of the growing demands for higher storage capacity at reduced cost, along with increased speed and endurance for emerging storage applications.
To protect their invention and license the technology, the co-founders worked with Tech Launch Arizona, the UA unit that commercializes inventions stemming from University research.
“We are thrilled to be receiving the NSF Phase-2 grant, which not only endorses the merits of our technology but also confirms that our product addresses a strong market need,” co-founder and CEO Shiva Planjery said. “We would not have reached this stage without the multiple support groups of the entrepreneurial ecosystem right here in Tucson.”
Contributions from UANews.org
Images courtesy of Codelucida