NexID Biometrics in Potsdam to receive $325,000 grant for further research of fingerprint identification technology
POTSDAM -- NexID Biometrics will receive a $325,000 grant from Albany, a company press release says.
The company said in a news release the grants will fund further research, development and commercialization of its "liveness detection" fingerprint identification technology.“We expect this funding to extend and accelerate our operations through the two to three years it may take before NexID begins to realize royalty revenue from the licensing of our technology in these new areas,” NexID CEO Stephanie Schuckers said.
NexID will participate with Clarkson University here and West Virginia University in joint biometric security technology research sponsored by the National Science Foundation. They will seek the right to license technology that results from that research. NexID is a venture “spinout” from both institutions, with several of the company’s founders serving on their faculty, the company said.
Privately held, NexID has operated since 2007 by licensing its software to authenticate users at international border crossings and to gain access to laptops, systems and secure locations, according to the company.
"[As] a member of the Seaway Private Equity Corporation’s Board of Directors, I’m pleased to see that NexID, truly a global center of excellence in biometrics technology here in the northern New York region, is receiving matching funds to further leverage this opportunity for growth,” Clarkson president Tony Collins said.