Ten local businesses to receive Venture Acceleration Fund awards
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- Communications Office
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- Julie Ruth
- Regional Development Corporation
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Modeling software packages, watershed mapping companies among recipients
LOS ALAMOS, N.M., June 26, 2014—Los Alamos National Security, LLC (LANS) and its partners recently awarded more than $400,000 to 10 local businesses to help them grow and develop in Northern New Mexico.
“Since the VAF was initiated in 2006, Los Alamos National Security has invested approximately $3 million in 49 New Mexico businesses,” said David Pesiri, director of the Feynman Center for Innovation. “Now it’s a community effort, with Los Alamos County, the city of Santa Fe and MEP stepping forward to partner with us. It’s encouraging to see that the payback triggers we implemented in 2013 are already creating sustainability for the fund.” Pesiri said.
The grant awards are administered by the Regional Development Corporation’s Los Alamos Connect program in coordination with Los Alamos National Laboratory. LANS invested $306,000, Los Alamos County invested $25,000, Santa Fe city government invested $30,000, New Mexico Manufacturing Extension (MEP) Partnership invested $25,000, and $30,000 came from repayment to the Regional Development Corporation by a previous year VAF grant recipient.
“This year brought in more qualified applicants than ever before, and I am excited to see the improvements in the economic climate the winners will help create here in Northern New Mexico,” said Kurt Steinhaus, Los Alamos’ Community Programs Office director.
Awards were given to five companies in Santa Fe, two each from Rio Arriba and Taos counties and one from Albuquerque. 2014 Venture Acceleration Fund recipients are:
- Flow Science, Santa Fe: computational fluid dynamics modeling software packages.
- Heavy Oil Solutions, Santa Fe: converting low-grade petrochemicals into higher value products using super critical water extraction and refining.
- Keystone Restoration Ecology, Santa Fe: remote assessment of watersheds using Geographic Information Systems mapping.
- Milk+Honey, Santa Fe: expanding handmade goat milk soaps and beeswax lotion bars into the national market.
- Xpress, Santa Fe: electronic tablets to improve how health-care providers choose drugs relevant to their practice, eliminating costly pharmaceutical sales representatives.
- FLUTe, Alcalde: flexible liners for mapping groundwater contamination and municipal water supplies.
- Purple Adobe Lavender Farm, Abiquiu: expanding lavender-based body care and culinary products into the national market.
- Private Label Select, Taos: natural personal care and cosmetic for national department stores, pharmacies and large manufacturers.
- Taos Mountain Energy Bars, Taos: energy bars; to improve manufacturing and packaging and eliminate waste and ramp up production to meet demand.
- Seed Worthy, Albuquerque: start-up company provides full wrapper platform for web and application developers.
“This is an important tool in our economic development efforts,” said Kate Noble of the city of Santa Fe. “The Venture Acceleration Fund draws out and empowers really interesting and important businesses in our region.”
This Venture Acceleration Fund was originally created to commercialize technologies developed at the Lab but now includes all types of businesses in every stage of development. The Venture Acceleration Fund is part of Los Alamos Connect, 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 funded by Los Alamos National Security, LLC (LANS), 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.
Los Alamos National Laboratory, a multidisciplinary research institution engaged in strategic science on behalf of national security, is operated by Los Alamos National Security, LLC, a team composed of Bechtel National, the University of California, The Babcock & Wilcox Company, and URS for the Department of Energy's National Nuclear Security Administration.
Los Alamos enhances national security by ensuring the safety and reliability of the U.S. nuclear stockpile, developing technologies to reduce threats from weapons of mass destruction, and solving problems related to energy, environment, infrastructure, health, and global security concerns.