- Technology Company Awarded Prize at Invest Maryland Challenge Ceremony -
BALTIMORE, MD, April 16, 2013 – University of Maryland (UM) Ventures, an ambitious joint research commercialization effort of the University of Maryland, Baltimore (UMB) and the University of Maryland, College Park (UMCP), announced today that it has awarded the first UM Ventures Start-Up Prize to VisiSonics, an Investment Maryland Challenge Semi Finalist company that was founded on intellectual property owned by the University. VisiSonics was recognized during the Invest Maryland Challenge Award Ceremony on Monday, April 15, 2013 at the Maryland Institute College of Art (MICA) in Baltimore, Maryland.
"Identifying customers and having sales is, of course, a major hurdle for university start-ups," said James L. Hughes, Director of UM Ventures, and President, Research Park Corporation, University of Maryland Baltimore. "With the significance of achieving more than half a million dollars in sales in 2012, VisiSonics is a worthy recipient of this inaugural prize."
VisiSonics brings to market state-of-the-art products and solutions in 3D sound capture, analysis and reproduction. VisiSonics RealSpace™ tools combine real-time acoustic signal processing algorithms with computer vision and machine learning on GPU equipped platforms to provide a new generation of technologies to address real world problems.
Said University of Maryland College Park Associate Vice President for Research and Economic Development and Maryland Venture Authority Board Member Brian Darmody, "VisiSonics is an example of the type of start-up the University and State of Maryland are fostering through new programs, such as the Maryland Innovation Initiative and $84M Maryland Venture Fund. We are supporting real companies with real products."
About UM Ventures
UM Ventures is an ambitious joint research commercialization effort of the University of Maryland, Baltimore (UMB) and the University of Maryland, College Park (UMCP). UM Ventures is a central part of an initiative called University of Maryland: MPowering the State. The program has combined the entrepreneurial efforts of the two powerhouse universities that together do more than $1 billion a year in externally sponsored research. UM Ventures is bringing innovative technologies to the market and expanding collaborations with industry. Visit http://umventures.org/ to learn more.