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TVC History
When Lockheed Martin Corporation founded Technology
Ventures Corporation in 1993 as part of its successful proposal
to manage the Department of Energy’s Sandia National
Laboratories, the challenge was clear: Facilitate the commercialization
of technologies developed in national laboratories and research
universities to create thriving companies and good jobs in
New Mexico. How to make this happen was, of course, quite
another matter. The road between esoteric technologies and
practical applications resulting in jobs isn’t a straight
line and the roadmap didn’t exist. TVC created its
own through trial, error, sagacity and professionalism.
As a result, between 1993 and 2002, TVC figured
prominently in the production of more than $300 million in
capital investments, more than 55 new high-tech companies
and more than 5,600 new jobs. And, in so doing, TVC blazed
a new trail by developing an effective and unique technology
commercialization model.
| Nationally, one in a thousand entrepreneurs seeking early stage equity investment receives it. Of the entrepreneurs who have worked with TVC and presented in a TVC symposium, about one in three has received funding. That record is similarly unique. |
The model has been so successful that in 2002
the company received a congressional appropriation to extend
its broad array of services in technology commercialization
to other DOE laboratories. |
