April 2, 2009: Syndiant Inc. has added eight new people to its staff after receiving new funding and seeing what the company called “explosive demand” for its pico projector technology.
The company announced that it has increased its staff 53 percent after new cash came in from the Texas Emerging Technology Fund (TETF).
Syndiant has the key enabling technology for pico projectors, ultra miniature projectors small enough to fit into cell phones, media players and laptops that can generate large and higher resolution images from small devices.
“It is well known that investment in innovative small companies is the way to grow jobs and this serves as a prime example,” Mark Harward, Syndiant CEO, said in a news release. “Many of our new employees are from Texas Instruments DLP group that is also working on pico projectors. Our growth reflects an increasing recognition among our customers that we have the best and most cost effective technology to address the pico projector market.
“We were able to add experienced engineering staff thanks to the $3.5 million Technology Commercialization investment by TETF. Growing a company in a down market allows for much better capital efficiency as everything needed for growth costs less and the pool of available talent is greater. As we raise our next investment round and ramp to mass production, we will likely need to add more jobs to meet what we see as a very large market.”
The newly hired employees will focus on achieving mass production in the second half of 2009, as well as supporting more than 70 companies interested in using Syndiant’s pico projector display technology.