"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.
"We're quite excited to be involved with this program, and thankful to LANL for its being a supporter of small New Mexico businesses. The funding received will be used to help fund our efforts to make a big leap forward in high performance computing, which we believe can help us grow substantially," commented Thomas Jensen, President of Flow Science.
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.
About Los Alamos Connect
Los Alamos Connect is the principal economic development investment by Los Alamos National Security, LLC the company that manages Los Alamos National Laboratory. Los Alamos Connect, administered by the Regional Development Corporation, provides a variety of services to help businesses achieve growth, continued success, and increase economic impact in Northern New Mexico.
About Flow Science
Flow Science, Inc. is a privately-held software company specializing in transient, free-surface CFD modeling software for industrial and scientific applications worldwide. Flow Science has distributors for FLOW-3D sales and support in nations throughout the Americas, Europe, Asia and Australia. Flow Science’s headquarters is located in Santa Fe, New Mexico. Flow Science can be found on the internet at http://www.flow3d.com.