NeuroTechR3 Awarded $256,000 STTR Grant

On Jun 1, 2021

NeuroTechR³, Inc., a women-owned business with offices at VentureLink on the campus of the New Jersey Institute of Technology (NJIT), Newark, has been awarded a National Science Foundation (NSF) Small Business Technology Transfer (STTR) Phase I grant for $256,000.

The funds will be used specifically to conduct research and development (R&D) work on the company’s innovation Homebased Virtual Rehabilitation System (HoVRS™), a rehabilitation device that promotes neuroplasticity for motor recovery through video games, and helps stroke patients recover function in their fingers, hands and arms.

NeuroTechR³ will take goal based games that have been demonstrated to be successful for stroke rehabilitation in the laboratory and acute rehabilitation hospitals and apply them on a smaller scale to develop an affordable, engaging, and easy to use system. The goal is to improve the lives of millions of people suffering from impairments after stroke, and contribute to the overall improvement of human health and wellbeing.

“NSF is proud to support the technology of the future by thinking beyond incremental developments and funding the most creative, impactful ideas across all markets and areas of science and engineering,” said Andrea Belz, Division Director of the Division of Industrial Innovation and Partnerships at NSF. “With the support of our research funds, any deep technology startup or small business can guide basic science into meaningful solutions that address tremendous needs.”

All proposals submitted to the NSF SBIR/STTR program, also known as America’s Seed Fund powered by NSF, undergo a rigorous merit-based review process. Once a small business is awarded a Phase I SBIR/STTR grant (up to $256,000), it becomes eligible to apply for a Phase II (up to $1,000,000). Small businesses with Phase II funding are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales.

“We are thrilled to join the elite group of innovative high-impact technology start-ups funded by NSF. By receiving this grant we are able to develop a product that will improve rehabilitation at a time when the number of individuals suffering stroke is projected to rise significantly, especially in the younger cohort. HoVRS™ will give stroke survivors a chance to regain their normal way of living and avoid long term disability.” said Mee Eriksson, CEO of NeuroTechR³.

NeuroTechR³’s main research collaborator is Dr. Sergei Adamovich, professor of Biomedical Engineering at NJIT and Director of NJIT’s Neuromotor Behavior and Neurorehabilitation Engineering Laboratory.

Founded by four women in 2020, this biomedical start-up company is anticipated to transform physical telerehabilitation and enter hyper growth within two years. The NeuroTechR³ team has extraordinary expertise in the field of technology based rehabilitation and business development with a high level of commitment to bringing HoVRS™ to the market.

To access more business news, visit NJB News Now.

Related Articles: