Investments in commercialization and start-ups based on LANL technology or expertise
The Venture Acceleration Fund (VAF) invests in creating and growing Northern New Mexico businesses that have an association with LANL technology or expertise. It funds up to $100,000 per project to businesses that use technology for commercial applications with market demand. Use of VAF awards includes activities such as proof of concept, prototyping, product engineering, customer acquisition and market validation.
The first phase of the VAF application process is a Call for Ideas, which takes place in the spring. Applicants that best establish their connection with laboratory technology or expertise, proof of commercial and regional impact, and the ability to leverage matching funds will be asked to submit a full proposal in the summer. Full proposals are evaluated on the above criteria as well as the strength of the business and technical team, potential for new company formation, technical feasibility and strong market opportunity.
A connection with LANL technology or expertise may be established through:
- License or intent to license laboratory intellectual property
- Participation in the New Mexico Small Business Assistance Program
- Expertise of current or former LANL employees forms the basis of the company
Please note that VAF funds must be used outside of LANL and cannot be used for LANL staff or research and development.
Contact: Belinda Padilla, 505-667-9896, bee@lanl.gov
Please check back in September 2010 for the new Call for Ideas!