Proposals due November 15
The Laboratory is soliciting proposals for projects that utilize Lab technology and expertise to benefit New Mexico-based start-up companies or small businesses. The goal of the Venture Acceleration Fund (VAF) is to promote regional technology commercialization, new company formation, and business growth in New Mexico. The first-call deadline for proposal submission is November 15. It is anticipated that 3-5 projects will be selected for funding in the first year.
The Venture Acceleration Fund facilitates the creation and growth of regional ventures by providing investments of up to $100,000 to facilitate projects with regional entrepreneurs, companies, investors, or strategic partners. Grants will be awarded on behalf of the Lab by the Regional Development Corporation, and all proposed work must be completed within 12 months of the grant award.
“We expect the Venture Acceleration Fund to fit an important business need in and around Los Alamos,” said Technology Transfer Division (TT) Leader Duncan McBranch. “Early seed-stage vehicles like VAF are a welcomed sight in the New Mexico enterprise landscape.”
The Venture Acceleration Fund is one of several programs supported by Lab management, the Community Programs Office (CPO), and TT Division designed to facilitate regional economic development activities.
Since 2002, TT has offered its internal Technology Maturation Fund, or Tech Mat, for scientists at Los Alamos. Tech Mat supports researchers who need small amounts of money to overcome a specific hurdle to commercialization of their technology such as building prototypes, conducting key experiments, analyzing data, and overcoming other milestones geared at engaging an industry partner. Since its inception, Tech Mat has catalyzed more than $12 million in non-government follow-on investment in the commercialization of Laboratory technologies.
“The Tech Mat Fund serves a key resource gap at a critical stage of early technology development,” said Marc Oettinger, business development executive for TT Division. “Without those funds, good ideas may never convert to marketable proofs of concept.”
More than 30 projects have been awarded Tech Mat funds in four years. Some recent projects include advances in portable direct methanol fuel cells, home disease diagnostics, underground radios, software for improving decisions-making in mergers and acquisitions and low cost gas sensors. Project awards can be as high as $50,000 and the average award is $45,000.
Building on the success of the internal Tech Mat program, the Venture Acceleration Fund allow external investment in projects that support Los Alamos-based regional ventures.
For guideline information or to download a proposal form for this Venture Acceleration Fund and TT Division’s Technology Maturation Fund, go to http://www.lanl.gov/orgs/tt/index.shtml online.
