30 Most Innovative Companies of the Year 2024
Business Fortune

Imagine a world where technology feels more like magic, where devices are smarter, faster, and seamlessly interconnected. In this world, information flows effortlessly through beams of light, unlocking new realms of possibility. This is the realm of silicon photonics, where the power of light is harnessed to revolutionize computing and communication. This technology promises to transform the way we connect and compute, offering unprecedented speed, efficiency, and scalability.
At the forefront of this transformative field stands La Luce Cristallina (LC), a beacon of innovation and ingenuity. Changing the face of silicon photonics, LC crafts materials that enhance the performance of devices like sensors and computers. Their star product, a thin crystal-on-glass (COG) BaTiO3, is perfect for making small but mighty photonic chips. These chips, no bigger than a coin, pack a punch, boosting performance while saving energy. With LC’s materials, it’s like upgrading your old computer to a supercharged version without using more power.
At Business Fortune, we had the great privilege of interviewing Dr. Alex Demkov, CEO of La Luce Cristallina. Our conversation spanned the fascinating realms of semiconductors and silicon photonics, delving deep into the materials chemistry that powers these groundbreaking technologies. He also shed light on the incredible team driving innovation at his company and how their unwavering principles are lighting the way to a brighter future through silicon photonics. In his inspiring words, each new discovery and innovation propels us toward a world where technology isn’t just functional—it’s pure magic.
Illuminating Innovations: The Journey of La Luce Cristallina
In the dynamic world of innovation, passion and collaboration ignite the spark of progress. Drs. Alex Demkov and Agham Posadas, co-founders of La Luce Cristallina, embarked on a journey fueled by their shared vision. With backgrounds steeped in semiconductor research and a desire to merge silicon electronics with functional crystalline oxides, they set out to redefine the boundaries of technology.
At the heart of their quest lay strontium titanate, a perovskite crystal holding the promise of unlocking new realms of functionality. Dr. Demkov’s fascination with its unique properties, cultivated during his tenure at Motorola, sparked a journey of exploration and discovery. This remarkable material, capable of integrating seamlessly with silicon substrates, opened doors to unprecedented opportunities.
Initially driven by the ambition to develop ferroelectric memory devices, La Luce Cristallina soon found themselves captivated by the electro-optical potential of barium titanate, a close cousin of strontium titanate. Collaborations with esteemed institutions like IBM propelled their research forward, leading to groundbreaking advancements in miniaturized phase shifters and heralding a new era in silicon photonics.
As the demand for high-speed data transmission reached unprecedented heights, traditional electrical interconnects faced insurmountable limitations. This is when silicon photonics—a transformative technology harnessing the power of infrared light for inter-chip communication—came into play. La Luce Cristallina emerged as a pioneer in this domain, offering innovative solutions that bridged the gap between research and commercialization.
In the pursuit of enhancing silicon photonics, researchers explored a multitude of material options. La Luce Cristallina’s journey unveiled the strengths and weaknesses of various contenders, from electro-optical polymers to III-V semiconductors. Yet, it was the unparalleled electro-optical coefficient of barium titanate that stole the spotlight, promising a revolution in modulator performance and miniaturization.
Anchored in the vibrant city of Austin, Texas, today La Luce Cristallina stands as a beacon of domestic innovation in a landscape dominated by global giants. Their journey has transcended borders, resonating with the broader vision of strengthening national technological sovereignty. With each partnership forged and each milestone achieved, they have illuminated the path to a future where innovation knows no bounds.
Navigating the Nanofilm Revolution
In today’s rapidly evolving technological landscape, the demand for low-cost, high-yield production of nanofilms with exceptional photonic and electronic properties is ever-increasing. Dr. Demkov sheds light on how his company meets these demands and contributes to the advancement of photonic integrated circuits (PICs), all while navigating the complexities of growth and fostering a culture of innovation within his team.
Demkov outlines the company’s strategy for scaling production to meet market demand, emphasizing the correlation between the number of deposition systems and wafer production capacity. With plans to acquire a second, larger deposition system, the company remains agile in responding to growing market demands by investing in additional infrastructure and human resources.
Empowering Innovation through Collaboration
As a materials provider, the company occupies a crucial position in the ecosystem of photonic integrated circuits (PICs), which are essential components in various optical and electronic devices. By collaborating with industry leaders in optical communications, the company leverages its expertise in material science to drive innovation and propel advancements in PIC technology.
These partnerships serve as catalysts for innovation, fostering an environment of collaboration and knowledge exchange. By working closely with the silicon photonics industry, LC gained valuable insights into emerging technologies, market trends, and customer needs. This enabled the company to develop and supply materials that meet the stringent requirements of PIC manufacturers, ensuring optimal performance, reliability, and scalability.
Reflecting on the company’s ethos, Dr. Demkov emphasizes the importance of sustainable growth and strategic partnerships. Drawing from his experience in academia and industry, he underscores the need to avoid overextension and maintain a measured approach to growth.
The Role of Agham Posadas in Driving Technological Innovation
Demkov highlights the invaluable contributions of Agham Posadas, the company’s Chief Technology Officer, in driving technological innovation. With a stellar background in physics and materials science, Posadas possesses a remarkable ability to grow a wide range of materials, making him instrumental in the company’s research and development efforts.
Posadas’ background in physics and materials science equips him with a deep understanding of fundamental principles, enabling him to navigate complex challenges and explore innovative solutions. His proficiency in theoretical and experimental physics allows him to unravel the intricacies of material behavior and devise novel approaches to material growth and device fabrication.
Whether it’s silicon, germanium, or complex crystalline oxides like barium titanate, Posadas demonstrates unparalleled proficiency in material synthesis and epitaxial growth. His expertise in growth techniques ensures the production of high-quality materials tailored to specific applications, driving technological advancement and innovation within La Luce Cristallina.
Forging Ahead
The company’s groundbreaking technologies, particularly those based on barium titanate, unlock a myriad of market opportunities across diverse sectors. From data centers to biomedical applications, these technologies exhibit unparalleled versatility, driving the company’s vision for technological advancement.
In a testimony to the power of dreams and perseverance, Demkov traces his journey with barium titanate, highlighting the transformative impact of innovation. With a keen focus on pushing the boundaries of possibility, he invites collaborators and innovators to explore the boundless potential enabled by barium titanate.
CEO Alex Demkov and his company stand as trailblazers in the realm of nanotechnology, driven by a shared vision for technological advancement and fueled by a passion for innovation. With a steadfast commitment to collaboration, growth, and excellence, they continue to redefine technological paradigms and shape the future of silicon photonics.
The Stalwart Leader behind the Unwavering Success of La Luce Cristallina
Dr. Alex Demkov is the CEO and Co-Founder of La Luce Cristallina. Beyond the boardroom, Alex is a distinguished Professor of Physics at The University of Texas at Austin, where he inspires the next generation of innovators. Armed with a Ph.D. in Physics from Arizona State University, his expertise spans the intricate world of materials science and semiconductor manufacturing.
Dr. Alex Demkov’s impact reverberates far beyond the classroom. With an impressive track record of 10 US patents and 21 US patent applications, his innovations are at the forefront of technological advancement. But his influence doesn’t stop there. With eight years of hands-on experience in the semiconductor industry at Motorola, Alex brings invaluable industry insights to his academic pursuits.
At The University of Texas, Alex leads not one but two groundbreaking academic labs—the Advanced Atomic Design Lab and the Materials Physics Lab—where his interdisciplinary teams push the boundaries of what’s possible. His work isn’t just theoretical; it’s practical, driving real-world applications and shaping the future of semiconductor manufacturing.
Internationally recognized as an expert and thought leader in materials for semiconductor manufacturing, Dr. Alex Demkov’s impact extends far beyond academia and industry. With a passion for discovery and a commitment to excellence, he’s lighting the way forward, one innovation at a time.