RTP-based RTI International (www.rti.org) has announced plans to acquire three research divisions of MCNC's Research and Development Institute (MCNC-RDI) later this year, including MCNC's Signal Electronics Division, Materials and Electronic Technologies Division and Advanced Network Research Division. MCNC's Grid Computing and Ventures business units are not included in the RTI acquisition. When finalized later this year, the acquisition will add the research staffs of all three MCNC-RDI divisions to RTI International's Science and Engineering Group.
This major announcement is also part of MCNC's efforts to redirect resources to more effectively create new companies and jobs throughout North Carolina. To coordinate with MCNC Ventures' funding of early-stage companies, the new MCNC-RDI initiatives include an annual research grant program - up to $500,000 annually - to support research likely to result in new companies. Through MCNC Ventures and the new grant program, MCNC-RDI will collaborate with other North Carolina economic development partners to evaluate, select and help fund research that can likely lead to the formation of new companies to produce new jobs, according to MCNC reports. The new MCNC-RDI research grant program will address the current "funding gap" by providing important funds to help propel promising technologies out of North Carolina's colleges, universities and other research institutions so they can develop to the stage that will attract venture capital funding, potentially including support from MCNC Ventures. Both MCNC and RTI are partnering with CED to present InfoTech 2004 (www.cednc.org/infotech) on Oct. 8 at the RTP Sheraton Imperial Hotel & Convention Center.
MCNC is a CED member.
RTI International is a CED member.