WideSail Technologies receives Venture Capital Financing from MSBi Valorisation
Commercialization of a unique Error Correction
technology for use in a wide range of digital
communications systems
Montreal, QC - May 8, 2008 - MSBi Valorisation Inc., an entity dedicated
to commercializing innovations and building companies based on technological
advancements and inventions originating from McGill University, Université
de Sherbrooke and Bishop's University, as well as their affiliated hospitals
and research institutes, announced today that it has made an investment in
WideSail Technologies, a developer of a novel world-leading error correction
technology for digital communications systems.
Founded in 2007, WideSail is a spin-off from McGill University. The company
is based in Montreal and develops semiconductor products and intellectual property
for very high performance error correction. The company will license its designs
to developers of integrated circuits for communications applications such as
WiFi, WiMAX, 10 Gb Ethernet, Direct Video Broadcast (DVB) and 4G telephony
(UMTS Long Term Evolution or LTE).
"We are very pleased to provide funding to WideSail to support
the commercialization of highly promising intellectual property originating
from McGill University," said Mark de Groot, Chairman of the board of directors of MSBi Valorisation.
"WideSail clearly demonstrates how scientific research from a world class academic
institution can be rapidly translated into applications with very strong commercial
potential."
"The researchers at McGill University have created a breakthrough
technology which outperforms state-of-the-art error correction techniques," said Gord Harling, President and CEO of WideSail. "This investment will allow WideSail to develop and demonstrate error correcting
circuit designs based on this technology. At the conclusion of this phase WideSail
will be prepared to launch a range of high performance products to customers
in various markets."
WideSail Technologies
WideSail is a developer of high performance error correction technology and
is a world leader in the application of Low Density Parity Check (LDPC) coding.
WideSail’s technology addresses the errors that occur during wired and wireless
digital communications, as well as in semiconductor and magnetic storage
devices. Its products provide excellent error correction performance at
very high speeds with much lower power than competing technologies. For more
information, visit www.widesail.com.
MSBi Valorisation
MSBi Valorisation (“MSBiV”) is dedicated to commercializing seed stage innovations in information technology, life sciences and the physical sciences, that are based on technological advancements and inventions originating from McGill University, Université de Sherbrooke and Bishop's University, as well as their affiliated hospitals and research institutes. MSBiV focuses on establishing and building companies, as well as developing high potential licensing opportunities for its partner institutions. For more information see www.msbiv.ca.
McGill University's Office of Technology Transfer
McGill University's Office of Technology Transfer (McGill OTT) provides the crucial link between the McGill research community and the realm of industry leaders, entrepreneurs and venture capital. McGill University is recognized internationally for its scholarly achievement and scientific discovery. With 22 faculties and professional schools, and more than 300 programs from the undergraduate to the doctoral level, McGill is a leader among Canadian universities in terms of research funding per full-time faculty member. McGill OTT is directly responsible for managing the continuous interactions between industry, government, and the commercialization of the University's intellectual property. For more information see www.techtransfer.mcgill.ca.
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Contact:
Gord Harling
WideSail Technologies
450-777-9085
gharling@widesail.com
