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Technologies companies at NJIT receive $500,000 in funding from state

Two young innovative technology companies--a software developer and an electronics designer who creates cameras for medical devises have received a total of $500,000 in funding from the New Jersey Economic Development Authority. The companies are based in the small business incubator program at New Jersey Institute of Technology (NJIT).

Cyber-Extruder, a young software development company, and Noble Device Technologies, an electronics designer, each received $250,000 from the NJEDA's Springboard Fund II Technology Grant program.

"CyberExtruder is very excited that the State of New Jersey has recognized the good work we do," said Larry Gardner, of Ridgewood, the chief executive officer. "This grant will make a significant contribution to the development of our next generation of software for the security industry."

"We feel very fortunate that New Jersey leaders value high technology businesses like us, and have developed programs like Springboard II to ensure that we continue to grow," said Clifford King, of New York City, CEO of Noble Devices.

Both companies are located in the Enterprise Development Center (EDC), a high-tech business incubator program, at NJIT. Since 1988, The EDC has helped inventors move innovative products out of the lab and into the marketplace. The program, housed in a trio of Newark buildings, provides office and laboratory space, financial help, business and technical services, and the shared expertise of the center's managers. Goals include reducing risk for fledgling entrepreneurs while creating businesses that will generate jobs and bolster New Jersey's economy.

Cyber-Extruder www.cyberextruder.com uses a core technology enabling the automatic conversions of 2D facial images (such as a passport photos) to life-like biometrically and forensically accurate 3D models of the subjects' faces or heads. The technology has applications
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Contact: Sheryl Weinstein
sheryl.m.weinstein@njit.edu
973-596-3436
New Jersey Institute of Technology
7-Oct-2004


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