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LabStart Looks for Promising Technologies

August 20, 2009

LabStart, a joint undertaking between two venture capital firms, Verge Fund and ARCH Venture Partners, has been formed to help discover technologies that are diamonds in the rough at Los Alamos National Laboratory. Russ Hopper, LabStart’s entrepreneur in residence, envisions the joint venture’s efforts as producing the seed of a vibrant entrepreneurial culture in Los Alamos. Hopper stresses that LabStart helps researchers get their inventions into the marketplace. “I would love to see 10 or 20 startups come out of the Lab and provide employment for talented individuals in the area,” he said. To read the article in its entirety, please click the below link.

LabStart looks for diamonds in the rough (PDF)

Mission

The mission of LabStart, a joint venture of Verge Fund and ARCH Venture Partners is to identify promising technologies within the Los Alamos National Laboratory (LANL), ensure that the intellectual property is protected and start new companies based on those technologies.

Focus

LabStart is interested in evaluating any promising technologies developed at LANL, particularly those in the areas of: materials, methods, software and combinations thereof.

Strategy

LabStart will evaluate any technology of interest for technological viability as it pertains to commercial application. We will then match the technology to a market or markets, determine if there is sufficient competitive room for a start up to be successful; and most importantly, if the size of the market is such that it can generate sufficient returns to equity investors and founders. If the answer to all the above is yes, LabStart will start a company, recruit competent management and begin commercial development.

LabStart is interested in nascent entrepreneurs at LANL, but it is not LabStart’s intention to poach Principal Investigator’s (PI) from the lab. If an inventor is genuinely interested in starting a company, and has skills to contribute, he or she will be encouraged to participate. However, it is LabStart’s contention that PIs should often remain in the lab, if possible, to participate in Cooperative Research and Development Agreements (CRADAs) and Work For Other (WFO) agreements to further the development of the technology into a product.

We seek promising, entrepreneurial post docs, techs, grad students to participate as well.