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On Sept. 21, Los Alamos National Security, the public-private partnership that runs Los Alamos National Laboratory, launched the year’s second Venture Acceleration Fund call for ideas. The fund, administered by Northern New Mexico Connect, invests up to $100,000 in Northern New Mexico businesses that have an association with LANL technology or expertise and want to apply that technology to a commercial product for which there is market demand. The ultimate goal is to create an entrepreneurial culture in Northern New Mexico.
Recipients of Venture Acceleration Fund awards typically spend the money on proof of concept, prototyping, product engineering, customer acquisition and market validation. The awards help entrepreneurs reach critical intermediate milestones that make the venture more attractive and less risky to later-stage investors.
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