Queensland, Australia - March 06, 2006 - Griffith University and Autralian venture capital investor, Starfish Ventures, have funded a new spin-out company to further develop next generation silicon carbide microchips created at Griffith.
Qs Semiconductor has been formed to develop Griffith's patented non-volatile random (nov-RAM) technology and has received $1.3 million in funding from Starfish Ventures.
Qs Semiconductor is developing a new product that offers the combined benefits of DRAM and Flash memory. The company's non-volatile memory will be high density, low cost and have no wear out - making it ideal for a broad number of applications in the computer, handheld and electronic markets.
Griffith University Professors Barry Harrison and Sima Dimitrijev, co-inventors of the technology, will lead the development at Griffith's new $10 million Queensland Microtechnoloy Facility. The state of the art building will be completed next month and will house new semiconductor equipment, worth $3 million and funded by a Queensland Government Smart State Research Facilities grant.
Profesor Barry Harrison welcomed the investment from Griffith and Starfish Ventures in Qs Semiconductor.“This funding represents strong show of support for Australia's fledgling seiconductor industry and the nov-RAM technology developed at Griffith,” Professor Harrison said.
“The global market opportunity for novel memory technologies is signifiant so Starfish is excited to be associated with the new approach developed at Griffith.” says Hun Gan, Investment Manager at Starfish Ventures.