New York University and Allied Minds, a seed investment corporation specializing in early stage university business ventures, have teamed to establish Spin Transfer Technologies, LLC (STT), a new start-up company, to develop and commercialize a novel, more efficient form of computer memory, STT-MRAM.

New York University researchers have developed a new form of magnetoresistive random access memory (MRAM), which will provide non-volatile storage of frequently updated, critical data, and instant-on convenience. The patented MRAM technology uses spin transfer to rapidly change the magnetic orientation of nanometer scale magnets.

"Our MRAM technology has the potential to provide significant advantages over competing approaches and may enable our devices to have higher write speeds, lower power consumption and be scalable to next generation process technologies," says Professor Andrew Kent of New York University.

"MRAM is expected to be the dominant next-generation memory technology. We're very pleased to be working with STT and New York University," says Allied Minds COO Marc Eichenberger.