Reveo Demonstrates Success of Small Business Innovation Research program
The SBIR program, established in 1982, is designed to support innovative research and development conducted by small businesses. By tapping into the creativity of the small business community, the government can support the development of critical, high risk technologies at an early stage, and thereby reach its objectives of maintaining U.S. competitiveness in the global economy. This helps the small business community to continue to be the most important job creator in the U.S. economy, a fact which clearly demonstrates the relevance of the SBIR program and justifies its continuation.
Reveo is a highly successful example of the ability of the SBIR program to promote high-tech research, create jobs, and foster innovative technologies of potential importance to the country. Founded with an SBIR grant in 1991 by Reveo's Chairman and CEO, Dr. Sadeg M. Faris, in his own home, Reveo has rapidly grown to employ 80 people in three locations and is working to achieve its corporate mission to invent and commercialize frontier technologies to solve significant problems of humanity.
Reveo has a proven track record of introducing winning products to market. The company has developed numerous high-tech innovations and has a strategy of spinning out subsidiaries to focus commercialization efforts for these technologies. One subsidiary, VRex, Inc., offers a full line of 3-D stereoscopic imaging and projection products that lead the field of stereoscopic 3-D viewing. Another, CLCEO Corp., focuses on electro-optic technologies. Major developments include ultra-high capacity optical storage disks, high brightness liquid crystal displays, smart energy conservation windows, and broadband reflective polarizers. The third Reveo subsidiary, EVonyx, Inc., is developing zinc-air fuel cells and batteries for portable electronics and lawn & garden tools. The company also plans to scale the technology for use in zero-emission electric vehicles and power sources for homes, businesses and factories.
Dr. Faris explains that the SBIR program is still crucial to Reveo's future growth. "Our commercialization strategy involves using New York State and federal grants to fund technology development at the early, most risky stage." The results of these development programs are then used to attract commercialization partnerships and investment from private industry. This proven strategy results in a synergistic relationship between business and government that leads to highly efficient job growth and the rapid commercialization of technologies important to the U.S. economy and to the improvement of our society.
Research in these novel technologies involves long-term thinking and risks that many larger companies are reluctant to take. "The SBIR program makes it possible," says Dr. Faris. "We would like to show Representative Kelly during her visit how Reveo uses this ideal program to create new jobs and opportunities for innovation in the high technology sector, and to thank her for her untiring support of small businesses in New York."
Reveo, Inc. (www.reveo.com) is headquartered in Elmsford, NY, with laboratory facilities and subsidiaries also in Hawthorne, NY and Sunnyvale, CA. Reveo's Chairman and CEO, Dr. Sadeg Faris, is an internationally recognized technologist with over 100 patented inventions and a successful track record of taking new technologies to the marketplace. He established Reveo with the mission to develop inventions on the frontiers of science and technology and turn them into products for the benefit of humanity. Numerous discoveries in the areas of materials science, stereoscopic imaging, and fuel cells have contributed to a strong patent portfolio and a wide range of outstanding products. Reveo has successfully built a laboratory and management infrastructure comprised of talented scientists, engineers and business leaders, and is actively hiring additional staff to support its rapid growth.