New York University Teams With Allied Minds to Develop Novel Non-Volatile Computer Memory
11-Dec-2007
Boston, Massachusetts – New York University and Allied Minds, a seed investment corporation specializing in early stage university business ventures, have teamed to establish Spin Transfer Technologies, LLC (STT), a new start-up company, to develop and commercialize a novel, more efficient form of computer memory.
Electronic memory devices used in today's computers are specialized to handle different computing and data storage tasks. Memory devices that can retain information after power to the device has been turned off are characterized as non-volatile memory. USB flash drives, memory sticks, and smart cards are examples of such devices. A common problem encountered with this form of memory is slow write speed and the limited life of each memory cell, making it unsuitable for tasks requiring frequent read/write cycles.
New York University researchers have developed a new form of magnetoresistive random access memory (MRAM), which will provide non-volatile storage of frequently updated, critical data, and instant-on convenience. The patented MRAM technology uses spin transfer to rapidly change the magnetic orientation of nanometer scale magnets.
"Our MRAM technology has the potential to provide significant advantages over competing approaches and may enable our devices to have higher write speeds, lower power consumption and be scalable to next generation process technologies," says Professor Andrew Kent of New York University.
"MRAM is expected to be the dominant next-generation memory technology. We're very pleased to be working with STT and New York University," says Allied Minds COO Marc Eichenberger.
The initial funding for Spin Transfer Technologies is being provided by Allied Minds. Through the NYU Office of Industrial Liaison, STT has received a license from NYU that includes three issued patents for inventions made in Dr. Kent's laboratory at NYU. To learn more about STT, please visit www.spintransfer.com.
About Allied Minds, Inc.
Allied Minds is an early stage investment company creating partnerships with select universities to fund corporate spin-offs resulting from innovative technology research. By providing corporate development support as well as funding, Allied Minds aims to guide early stage companies to commercial success, thereby generating value for all stakeholders. For additional information, visit www.alliedminds.com.
About New York University
Founded in 1831, New York University is the largest private university in the United States. The University, which is composed of 14 schools, colleges, and divisions, occupies five major centers in Manhattan. It operates branch campus and research programs in other parts of the United States and abroad, as well as study abroad programs in more than 25 countries. For additional information, visit www.nyu.edu.
About the NYU Office of Industrial Liaison
NYU's Office of Industrial Liaison promotes collaboration with industry to develop NYU technologies into products to benefit society. It also fosters the creation of start-up companies around NYU technologies. Over 40 new companies based on NYU technologies have been formed and NYU currently has over 200 active license agreements with industry. For additional information, visit www.nyu.edu/oil.
