Medical Alley, Minn. – 22 October 2024
Radwave Technologies Inc. is pleased to announce the receipt of the National Science Foundation (NSF) Technology Enhancement for Commercial Partnerships (TECP) Award. The $194,759 grant will fund a groundbreaking research initiative aimed at advancing electromagnetic tracking technologies in collaboration with leading commercial partners.
The technology developed through this project will feature the same exceptional accuracy, reliability, and performance synonymous with Radwave® Electromagnetic Tracking platform. It is designed to enhance the precision of minimally invasive and interventional procedures where accurate tracking can improve procedural workflow and accuracy within challenging clinical environments, while lowering exposure to harmful radiation.
“We are thrilled to receive this support from the NSF, which allows us to build on our NSF SBIR Phase I and II funded research and take critical steps toward commercialization,” said Lev Koyrakh, PhD, President and Chief Technology Officer of Radwave Technologies, and Principal Investigator for the project. “This grant marks a major milestone for our team as we continue pushing the boundaries of electromagnetic tracking and bringing transformative solutions to the market.”
The NSF TECP Award will enable Radwave to further expand its portfolio with a new line of products, aligning with the company’s mission to innovate in electromagnetic tracking and improve patient outcomes. Building on the success of the TECP-funded feasibility study, the company will focus on validating and scaling the technology for broader commercial deployment.
“We are grateful to collaborate closely with our commercial partners, whose involvement validates our innovation and allows us to test the technology in real-world use cases,” said Andrew Brown, CEO and Co-Founder of Radwave Technologies. “These partnerships ensure this technology is adaptable to diverse applications and remains true to our promise of delivering accurate sensing with resilience to environmental interference. We are confident this innovation will make a meaningful impact in interventional procedures.”
The grant is awarded under NSF Phase II Award Number 2222580, titled “Modular and Reconfigurable Electromagnetic Navigation System for Surgical Interventions and Medical Robotics.”
About the NSF’s Small Business Programs
America’s Seed Fund powered by NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $1.75 million to support R&D, helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the SBIR program. The NSF is an independent federal agency with a budget of about $8.1 billion that supports fundamental research and education across all fields of science and engineering. For more information, visit seedfund.nsf.gov
About Radwave Technologies Inc.
Radwave Technologies Inc. is the leading provider of novel electromagnetic tracking solutions that helps health care innovators create the next generation of medical devices. The company mission is to develop accurate and reliable electromagnetic navigation technology to improve outcomes of minimally invasive and robotic medical procedures. Radwave Technologies Inc. is a privately held company founded in 2018, and is based in St. Paul, MN.
For more information, visit www.radwavetech.com