Wavesat receives $990,000 from Canadian program

MONTREAL-Semiconductor developer Wavesat Inc. said the National Research Council’s Industrial Research Assistance Program will contribute $990,000 toward the company’s development efforts, according to a contribution agreement.

Terms of the agreement call for Wavesat to develop a WiMAX chip to meet IEEE 802.16e standards. The funding will be used this year and into 2006.

NRC-IRAP is a Canadian innovation assistance program for small and medium-sized enterprises. It provides such enterprises repayable financial assistance for projects in the pre-commercialization stage.