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Genedge Alliance Awards Grant of over $200K to Innovative Wireless Technologies
Feb 14, 2012 (Close-Up Media via COMTEX) --
Genedge Alliance, in cooperation with The Virginia Tobacco Indemnification and Community Revitalization Commission (TIC), said it has awarded a grant totaling more than $200,000.00 to Innovative Wireless Technologies (IWT) Inc. to fund an "Innovation Commercialization Project" for accelerating high technology top line growth in the region.
IWT is a wireless solutions company located in Forest, Va., that has been developing products for commercial, industrial, defense and public safety markets for over 14 years.
According to a Feb. 9 release, the funding is targeted toward critical testing of IWT's Coyote Unattended Ground Sensor (Coyote UGSTM) System. Coyote UGSTM is a modern unattended sensor system that enables economical border surveillance in rugged remote terrain and is currently deployed by a number of federal agencies. It provides highly accurate, smart sensing to classify human or vehicle presence with precision and minimal false alarms.
"Genedge is pleased to help IWT accelerate certification of the Coyote UGSTM System. Genedge will provide project management for the final qualification testing for this border security related growth opportunity. With a successful launch, not only will IWT benefit, but the supply chain for this project, which is primarily located in the TIC region, will also see growth in revenues and high technology jobs," said Bill Donohue, the vice president of Genedge Alliance.
IWT President and CEO Eric Hansen said, "The Genedge grant enables IWT to further strengthen and qualify our Coyote UGSTM product portfolio. The Coyote system provides a unique sensing and wireless capability for enhancing our national border security. Our goal is high technology growth in the TIC region. We look forward to our Genedge collaboration and the benefits it will provide to Central Virginia."
The Genedge Allicance Innovation Grant helps qualifying manufacturing and technology businesses, which fall within counties throughout the Virginia Tobacco Commission region, bring new ideas and new products to market.
"IWT is showing an excellent commitment to economic development and creating employment opportunities for the County of Bedford. The Virginia Tobacco Commission strives to support such projects and is delighted with IWT's decision to expand within our region," said Delegate and TIC Commissioner Kathy J. Byron.
Funded in cooperation with the Virginia Tobacco Indemnification Commission (TIC), the goal is to create more jobs in Virginia's Tobacco region. Therefore, the program seeks to fund high probability commercialization opportunities for regionally manufactured products and technologies. To be eligible for participation in this program, companies must have established operations in the TIC region, operate with primary or secondary NAICS classifications from 311 up to 339, or 54171, and be registered as such with Dun and Bradstreet (D&B). Eligible expenses include market research, development, and materials, prototype development, third party proof of concept, engineering / design, and certifications through independent testing services.
Genedge Alliance, the National Institute of Standards and Technology Manufacturing Extension Partnership (NIST MEP) affiliate for the Commonwealth of Virginia, provides a structured based commercialization program for companies interested in the grant.
More information:
www.tic.virginia.gov
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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