Venture Acceleration Fund wins entrepreneurship award
- Steve Sandoval
- Communications Office
- (505) 665-9206
- Julie Ruth
- Regional Development Corporation
- (505) 603-7190
Fund supports economic development in Northern New Mexico
LOS ALAMOS, N.M., Oct. 23, 2014—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 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.
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, BWX Technologies, Inc. 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.