Two Los Alamos Businesses Receive Venture Acceleration Fund Awards

LANL News:

The two Los Alamos businesses receiving Venture Acceleration Fund Awards are GeoEnergy Monitoring Systems, Inc. and SportXast of Los Alamos.

GeoEnergy Monitoring Systems will use the funds tocontribute to the development of a seismo-acoustic system to monitor seismic activity where hydrofracturing (fracking) and fluid injection projects are occurring. The smart-sensor technology will be offered to field operators at a fraction of the cost of current systems.

SportXast of Los Alamos will use its fund in a beta mobile application and distribution through the Apple AppStore. The multi-user online video platform allows users to broadcast and share the media they record on a common timeline that can be accessed anywhere. “SportXast is licensing intellectual property from LANL and includes current and former LANL employees,” Belinda Snyder, program manager for the Venture Acceleration Fund said.

Nine local businesses ranging from startup mobile app developers to a maker of power-assisted bicycle components to an unmanned solar aircraft manufacturer are the latest recipients of $340,000 in Venture Acceleration Fund (VAF) awards.

The amount of $315,000 was invested from Los Alamos National Security, LLC and $25,000 was contributed from the County of Los Alamos.

“Over the last two years, Los Alamos County has contributed over $75,000 in cash and in-kind resources in support of the Venture Acceleration Fund,” Division Leader for LANL Technology Transfer David Pesiri said. “We hope to see more communities contributing in the future to support the growth of exciting companies such as the current set of recipients. It’s a great partnership.”

LANS has invested $2.8 million in 39 northern New Mexico businesses since the inception of the VAF in 2006, and continues to boost area businesses exhibiting high growth potential in this year’s round of awards.

Four companies from Santa Fe, two companies from Los Alamos, two companies from Rio Rancho and one from Moriarty are the recipients for 2013.

The VAF program was created to commercialize technologies developed at Los Alamos National Laboratory, but has since expanded to include all types of businesses in all stages of development. Startups and early-stage companies are funded most often, and preference is given to companies based in the northern New Mexico counties of Los Alamos, Santa Fe, Sandoval, Rio Arriba, Taos, San Miguel, and Mora.

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