SOURCE: Network Foundation Technologies, LLC

Network Foundation Technologies, LLC

February 15, 2011 09:00 ET

Louisiana Tech-Based NiFTy Receives Tibbetts Award

Online Broadcasting Innovator Honored at White House Reception

RUSTON, LA--(Marketwire - February 15, 2011) - Network Foundation Technologies, LLC (NiFTy) today announced it has received a Tibbetts Award from the Small Business Administration in recognition of its groundbreaking technology developments and economic impact in northern Louisiana. NiFTy broadcasts online content via patented distribution technology that employs the collective computing capacity of its viewers to deliver streaming audio and video far more efficiently than conventional web broadcasters.

Marcus Morton, NiFTy's President and Co-founder, accepted the award during a luncheon in Washington, D.C. Morton and other awardees were then treated to a reception at the White House.

 "NiFTy has made great strides with the funding provided by the Small Business Innovative Research (SBIR) program through the National Science Foundation (NSF)," Morton said. "The assistance given our business has made a critical difference in helping us achieve our vision of dramatically reducing the cost of online broadcasting."

To date NiFTy has been awarded nearly $1.2M in highly competitive SBIR NSF grants.

Sean Greene, the Small Business Administration's Associate Administrator for Investment and Senior Adviser for Innovation, said this recognition of NiFTy's success is more than a technological achievement.

"This is a proud day not only for NiFTy but also for northern Louisiana," said Greene. "Companies like NiFTy represent the best in American ingenuity."

The National Tibbetts Award is presented to organizations, individuals and small firms whose achievements have been definably aided by SBIR stimulus. The award is named for Roland Tibbetts, who started the SBIR Program at the National Science Foundation.

More than 45,000 patents have been granted to SBIR participants. NiFTy's patent portfolio consists of 14 total patents -- eight awarded and six pending.

About Network Foundation Technologies, LLC: Founded in 2001, Ruston, Louisiana based Network Foundation Technologies (NiFTy) is a name that is quickly becoming synonymous with the online broadcasting of large, live events to worldwide audiences. NiFTy's patented technology overcomes the scalability and cost bottlenecks associated with online broadcasting, enabling the company to bring large-scale, advertiser-supported, television-style broadcasting to the Internet for the very first time.