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Los Alamos National Laboratory and its for-profit management partnership named two companies as a composite partner in technology transfer over the next three years.
An announcement by the laboratory Tuesday said LANL and Los Alamos National Security LLC will negotiate with ARCH Venture partners and Verge Fund to manage the Los Alamos Venture Acceleration (LAVA) Initiative.
“The Venture Acceleration Initiative is an innovative program in a comprehensive laboratory strategy to increase the impact of our cross-cutting R&D in creating technology jobs in the regional economy,” said Duncan McBranch, chief deputy of LANL’s Science Technology and Engineering Directorate and former director of the lab’s technology transfer division, in the announcement.
The program, which took shape in May, proposes to place a talent scout more or less full time on site at the lab to look for technologies with entrepreneurial promise.
The contract is worth up to $1 million over a three year period and is meant to take care of some of the direct expenses involved in identifying and spinning off promising business opportunities into northern New Mexico.
ARCH Venture Partners with offices in Austin, San Francisco, Seattle and Albuquerque manages more than $1.5 billion in capital.
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