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Northern New Mexico technology companies have been using the Venture Acceleration Fund since 2006 to help bring their products to the marketplace.
The fund, administered through Los Alamos National Laboratory, awards up to $100,000 to qualifying ventures.
This year, the VAF is changing some of its rules: calls for ideas will be accepted year-round, and companies no longer must have a direct technology-transfer association with the lab — though some preference is given to those ventures.
The fund supports tech ventures in almost every step of the commercial process, including proof of concept, prototyping, product engineering, finding customers and market validation. Startups and companies that receive the funding work in diverse fields, including biotechnology, software development and renewable-energy ventures.
In the past, some of these projects involved scientists who formed spinoff companies using LANL technology. For example, Santa Fe’s Mesa Tech is applying a DNA dipstick developed at LANL to the real-world concern of food safety.
The VAF also supports New Mexico startups and small businesses developing their own ideas.
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