LANL News: Venture Acceleration Fund wins entrepreneurship award

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News Release

Steve Sandoval, 505 665-9206, steves@lanl.gov, Julie Ruth, Regional Development

Corporation, 505 603-7190, Julie@lokacreative.com

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Venture Acceleration Fund wins entrepreneurship award

Fund supports economic development in Northern New Mexico

LOS ALAMOS, N.M., Oct. 23—The Venture Acceleration Fund (VAF) created by Los Alamos National Security, LLC (LANS) and administered by the Regional Development Corporation received the 2014 entrepreneurship award from the International Economic Development Council (IEDC). The award was presented at IEDC’s annual conference this week in Fort Worth, Texas.

“Since the VAF was initiated in 2006, LANS has invested approximately $3 million in 49 New Mexico businesses,” said David Pesiri, director of Los Alamos’ Feynman Center for Innovation. “Now it’s a community effort, with Los Alamos County, the city of Santa Fe and the New Mexico Manufacturing Extension Partnership stepping forward to partner with us.”

“The Venture Acceleration Fund has effectively helped entrepreneurs start new businesses, grow existing businesses and contribute to a more diverse economy,” said Kathy Keith, executive director of the Regional Development Corporation (RDC). “It all began with an investment from LANS – the company that manages Los Alamos National Laboratory – and we continue to work closely with the Lab’s Feynman Center and Community Programs Office to administer the program.”

The IEDC annually recognizes the world’s best economic development programs and partnerships, marketing materials and most influential leaders. The VAF program was one of 34 recognized by the IEDC. Judging criteria for the entrepreneurship category included measurable results, widespread community support, innovation, cost effectiveness and transferability to other communities.

The fund was originally created to commercialize technologies developed at the Laboratory but now includes all types of businesses in every stage of development. The Venture Acceleration Fund is part of the Los Alamos Connect (www.losalamosconnect.net) program of the Regional Development Corporation that aims to help entrepreneurs and businesses reach the next level of success and grow the economy in Northern New Mexico.

About the Venture Acceleration Fund

The VAF is a collaborative investment founded by Los Alamos National Security, LLC (LANS), and funded in partnership with Los Alamos County, the city of Santa Fe and New Mexico Manufacturing Extension Partnership. The fund is administered by Los Alamos Connect, a program managed by the Regional Development Corporation (www.rdcnm.org).

Photo Caption: Purple Adobe Lavender Farm in Abiquiu, N.M., owned by Elizabeth and Roger Inman was one of 10 Northern New Mexico businesses to receive a Venture Acceleration Fund award this summer.