Tech Ventures

Lab2 Venture Rocked!

It was something new. It was something we’d never really tried before. Those attempts are supposed to be courageous. Right?

Well, I’m not sure this qualifies, but it sure was fun.

It’s been well over a week since our Lab2Venture Open House, and I still have “Separate Ways” and “Bad to the Bone” as the ringtone and notification on my phone. I’m not ready to put all of the memories away just yet.

Nearly 200 folks wandered the halls and lobby of our office building, chatting, looking at posters, sharing ideas, and making new connections. Elvis was there; so was KISS. We were looking to Rock the economy. We wanted an open house, and we got one.

There was a DJ, as well as great food and beer (and wine). We even had a VIP lounge hosted by “Hoff” himself serving mocktails. It was an unconventional way to get the scientific community and the entrepreneurial community in one place—talking to one another.

Many of our partners were there to just be available to meet any scientist, technologist, inventor, or entrepreneur that might stroll up and say “hi.” It was all about flow, interaction, and collaborative collisions.

I got in over 30,000 steps that day. It was full. We are now looking toward the Deal Stream Summit in October, which means we’re looking for business plans. Well, we’re always looking for business plans, really.

Spread the word.

It’s still a bit early to determine what “deals” may have started there, but the activity was electric.…

Commercialization & Entrepreneurial Training Schedule

Technology Ventures Corporation (TVC) will be delivering the next curriculum series on Commercialization &  Entrepreneurial Training. 

The topics will focus on providing the fundamental groundwork for technology commercialization, as well as providing example cases of local equity-backed, technology startup companies.

Attendees will come away with the knowledge and frameworks to establish validated customer demand and understand how to assemble a plan of execution,  thus reducing the risk and optimizing the opportunity of success. 

Attendance is free and a box lunch will be provided.

Location:  

KAFB Education Center
1900 Wyoming Blvd. SE Bldg 20602

Access a map HERE:

AFEducationCenterMap

Dates:

August 4  (11:45am-1:00pm)     Introduction / Financing Your Entrepreneurial Venture

August 11   (11:45am-1:00pm)      IP Strategies for Commercialization

August 18  (11:45am-1:00pm)    Market Validation / Management Team and Evolution

August 25 (11:45am-1:00pm)    Business Plan Strategy Assembly / Sandia ESTT Program

More information at 843-4279.

This training series is “behind the fence,” and intended for lab personnel.  You must have base access (Sandia National Labs/KAFB) to attend.

Technology Ventures Corporation’s Deal Stream Summit in New Mexico is the Region’s Premier Venture Event

It really is.

We will hold our 22nd Deal Stream Summit on October 6, 2015, at the Anderson Abruzzo International Balloon Museum in Albuquerque.

From our press release:

Technology-based business opportunities that demonstrate outstanding potential for commercialization, innovation, and investment will be highlighted, presented in three separate flights over the afternoon.

“The Deal Stream Summit is New Mexico’s venue for showcasing exciting technology-based investment opportunities originating at the U.S. Department of Energy laboratories and other research institutes,” said John Freisinger, president and CEO of TVC. “It has served as a vehicle to facilitate private investment partnerships among emerging technologies within the lab, startups, and innovators.

“New Mexico has enjoyed unexpected growth in our entrepreneurial economy due to the intentional and coordinated growth in four factors: access to ideas, the availability of talent, intelligent capital, and the supportive community.”

In addition to an exciting agenda for investors, the Summit will kick off the Kauffman Foundation’s third annual Mayors Conference on Entrepreneurship, which brings mayors and entrepreneurship experts together to discuss ways to promote startup activity. Its theme, “Recipes for Growth,” will explore the role of local assets in supporting entrepreneurial activity.

Albuquerque is home to the world-renowned International Balloon Fiesta.   Visitors from all over the world come to Albuquerque the first week in October to celebrate the beautiful wind-directed sport of ballooning.  With hundreds of balloons taking flight, Deal Stream Summit attendees will be delighted with a panoramic view of Balloon Fiesta Park from the event site of the Balloon Fiesta Museum.

This annual Summit is focused on starting, building, and financing research-based technology, as well as startups and entrepreneurship from the labs. It has also allowed hundreds of companies to receive funding and fueled the commercialization of laboratory R&D and IP. To date, one-third of the presenting companies have received funding a noteworthy achievement and an unmatched success rate.…

The 2015 Deal Stream Summit = more of our history

Unlike our Lab2Venture open house we held in May, our Deal Stream Summit (held Oct 6th) was most certainly not new.  Nor was it something we’d never tried before.  Since 1993, TVC has been presenting investor-ready companies, giving them a stage so that they can give a 10-minute pitch as to why you should give them a bunch of money. 

Prior to throwing (OK, not really throwing) them on stage, however, the selected companies go through a meticulous preparation process.  Advisor teams are assembled, and their presentation is examined and reexamined.  They practice (dry run), evaluate, then prior to the crowd showing up, they then have a dress rehearsal.

It’s what we do.  We match companies ready for investment with the right investors.  We’ve been doing it for some time now.  It’s been called the Equity Capital Symposium (1993-2011); it’s been held over several days, consisting of not only the presenters, but also informative panels and keynotes; it’s been at the Hyatt downtown, the Embassy Suites, and now, for the past two years, it’s been at the Balloon Museum. It’s a little over a half-day in length now, and we call it the Deal Stream Summit.

Regardless of what we call it, or how long it may last, TVC employs a successful commercialization model that connects innovators, entrepreneurs, and investors nationwide to create companies and take federal laboratory inventions to the marketplace.  And, between 1993 and 2015, TVC figured prominently in the production of more than $1.2 billion in venture capital investments, more than 121 new high-tech companies, and more than 13,500 new jobs.

Although the primary vehicle for showcasing both seed and early-stage companies is TVC’s Deal Stream Summit, we do this every day, in one form or another.

To date, 30 percent of the presenting companies have received funding—a noteworthy achievement and an unmatched success rate.

It may not be new, but it is consistent. We’re good with that.…

Writing a Business Plan: The Conclusion

This is the 9th and final post in our “Writing a Business Plan” series.

See… isn’t writing a business plan easy?  Well, it probably wasn’t that easy.  There are just a few more things to touch on now that you have your plan written out. First, you’ll note that I didn’t say “finished” or “done” in that last sentence.  For full disclosure, I have to tell you that a business plan is never actually complete.  You’ll hear the term “living document” tossed around because your plan will never really stop changing and growing.

Things change that will necessitate updating your plan. Often they are assumptions that no longer apply, but they can be caused by just about anything: changes in the marketplace, competitors, technology shifts, funding possibilities, customer requests, new partners–anything really.  So, be prepared to go in and change your plan.  You can consider this version as “done,” but you should already be working on the next version.

What You Get

You’ve finished all the sections, so now is the time to go back and finish the executive summary.  You’ll have a complete and appropriate summary of your plan.  From now on, every time you change part of the plan, you’ll have to go back to the summary and see if the changes affect anything. It can be a pain, but it’s a useful process to keep on top of the changes in your business.

Your new plan is now also the basis for two other business documents.  You can now generate your Pitch Deck and your One-Pager. Both of these documents will use parts of the business plan as their base.

With your completed business plan you can earnestly start talking with investors.  When you’re asked for a business plan, you can say “I’ll email it!”  Don’t start blanketing the world with your full plan though. Receiving multi-megabyte files that you didn’t ask for is more annoying than anything else.

What To Include

You’ve gone back and updated your executive summary.  I can’t stress that enough. Do it constantly.  Of all the sections, that’s the one that needs to be correct.

A tip that I recommend is to have a separate one-pager in addition to the executive summary.  The executive summary tends to run long and can be a bit bland. It’s usually in the same format as the rest of the plan and a bit standard.  That’s not a bad thing when you’re including a full plan. 

But when somebody wants an introduction to your business, and they ask you to send them an executive summary, send a one-pager AND the summary.  The one-pager is an “infomercial” version of your summary. It’s got flash, style, a call-to-action, and some formatting to make it interesting while making the exciting bits stand out.  Include highlights from the summary, a few images, and your logo.

A pitch deck is another very useful document to have ready to go.  But the trick is to have several versions prepared and ready to go.  I like to have at least 3 different versions.  First, I’ll have a “cold intro” version. The “cold” version assumes that the reader knows absolutely nothing about the company. It will have a lot more words, information, and descriptions. This is what you’d send to your cold calls and brief introduction contacts.  The second version is the “presentation” version. 

This version will have practically no text – it’s all highlights and images.  This is the one used for presenting to potential investors.  I recommend having no more than 12 words on each slide, with 8 being better. Keep the audience interested in your pitch and use the slides to reinforce your message. 

The third version is a combination of the above.  Keep the slides short and informative, but not overwhelming. It’s a multi-page version of the one-pager.  Once you have those ready, don’t be afraid of making individual versions for each situation or investor.  Take the time to customize the deck to match the audience; doing just a little research can make a huge difference.

For all of these documents, I recommend keeping a version number in the file names.  To not get too technical, my version numbers …

Deal Stream Summit in New Mexico

Was held October 6, 2015
at the Anderson-Abruzzo International Balloon Museum

Thank you to all that made this year’s Deal Stream Summit a great success.  You can still see our presenting companies as well as our partner organizations at the links to the right.

For 22 years, the Deal Stream Summit has been New Mexico’s venue for showcasing exciting technology-based investment opportunities originating from the U.S. Department of Energy laboratories and other research institutes.

TVC’s Deal Stream Summit has served as a vehicle to facilitate private investment partnerships among emerging technologies within the lab, startups and innovators.   This annual conference is focused on starting, building and financing research-based technology, as well as startups and entrepreneurship from the labs. It has also allowed for hundreds of companies to receive funding and fueled the commercialization of laboratory R&D and IP.

TVC accelerates the growth of globally competitive, high-tech companies by bringing together entrepreneurial talent, innovative federal research,
dynamic capital investment and relevant community involvement.

Audience Profile:  venture capitalists, startups, research & development scientists, DOE laboratory technology, tech transfer executives from government and national labs, licensing officers, private equity investors, corporate development and new business development executives, corporate investors, corporate counsel, and spin-out companies.

New Mexico Flying 40

Congratulations to the 2014 Flying 40 Awardees

The 2014 Flying 40 Celebration was held

Honoring the fastest growing technology companies in the state of New Mexico

New Mexico’s future is technology; and New Mexico’s future is bright.  Jobs at the Flying 40 increased from 3,528 in 2009 to 3,929 in 2013, a 11 percent increase.  Revenue increased from $780.3 million in 2009 to more than $889.3 million in 2013, a 14 percent increase.

New Mexico’s technology-based economy is thriving. Technology Ventures Corporation, KPMG LLP, Sandia Science & Technology Park Development Corporation, New Mexico Bank and Trust, and UNM Athletics Department believe these companies and their employees should be singled out as examples of the best New Mexico has to offer.

Call for High-Tech Startups

Technology Ventures Corporation presents its 21st Deal Stream Summit October 7- 8 in Albuquerque.  Technology-based business opportunities that demonstrate outstanding potential for commercialization, innovation and investment will be highlighted.

As a bonus, presenting companies compete for a $30,000 Investor’s Choice cash award.

Each company makes an oral presentation summarizing its investment opportunity, and expert sponsor judges select the company making the best presentation.

What We Need from You

To be considered, U.S. technology-based companies must submit a non-proprietary business plan, executive summary or pitch deck to Technology Ventures by July 1, 2014.

Submissions will be judged using  this criteria:
• Technology source is developed by or with:

Department of Energy-funded facilities, or
New-Mexico-based businesses• Market opportunity
• Merit of the business proposition, path to market and competitive advantage
• Stage of product development and milestones
• Intellectual property, protection and strategy
• Financial forecast
• Qualifications of the management team
• Investment “ask” and exit strategy
• Proposed use of the $30,000 Investor’s Choice cash award in advancing  the  business case and specific milestones to be achieved.Interested companies should contact TVC project managers now for assistance with their business plan development and Summit application.  For more information, contact  Margaret Speer, 505.843.4202, Sharon Rollins, 505.843.4279,  or visit the contact page.  Submit your non-proprietary PDF business plan, executive summary or pitch deck here by July 1, 2014.

Northern New Mexico Call for Plans event:

Registration info to the right →

Join us at the Manhattan Project Restaurant
1789 Central Ave.
Los Alamos, NM 87544

June 5, 2014

Agenda:
11:30am – 1:15pm       Lunch provided

12:00pm – 12:05pm    Introduction

12:05pm – 12:35pm     Deal Stream Summit overview

12:35pm – 12:55pm     Past presenters, Lisa Abeyta (AppCityLife); Robert Hockaday (Energy Related Devices)

12:55pm – 1:00pm       Summary & closing remarks

1:00pm – 1:15pm         Networking

Technology Ventures presents the Deal Stream Summit in partnership with Lockheed Martin Corporation and the Department of Energy.

IP Bundling Agreement Signed 08/24/2007

Announcing the historic signing of the Intellectual Property Bundling Agreement Among Sandia National Laboratories, Los Alamos National Lab, the Nevada Test Site, and Lawrence Livermore National Laboratory for the purpose of commercialization

Albuquerque-Technology Ventures Corporation (TVC) will host Clay Sell, Deputy Secretary of the Department of Energy, Senator Pete V. Domenici, and the directors of the NNSA national laboratories for the historic signing of the Intellectual Property Bundling Agreement (IPBA), a unique agreement to pool intellectual property to accelerate the commercialization of lab technologies.

The IPBA, which will be signed by the directors of Los Alamos National Laboratory, Sandia National Laboratories, Nevada Test Site, and Lawrence Livermore National Laboratory facilitates the commercialization of intellectual property (IP) that is owned by each of the four National Nuclear Security Administration (NNSA) facilities.

As part of this agreement the laboratories voluntarily agree to work together to collect their patents and form those patents into IP bundles, which can then be packaged or separately licensed to companies and individuals looking for technology.

The Intellectual Property Bundling Agreement that is being signed on 24 August will enable a private sector business to negotiate and contract with just one laboratory for bundled intellectual property owned by all four laboratories (LANL, LLNL, SNL, and the NTS)

The private sector market pull of laboratory technologies is greatly enhanced and accelerated because it will be easier for the private sector to engage in the licensing process. A license to bundled IP (group of patents) is of significantly greater value to the private sector than a single patent, as the related and complementary patents within the bundle enable the far greater potential for multiple commercial applications and wider fields of use. IP bundling is already known and in use in the private sector.

More specifically the IP (patents) Bundling Agreement advantages include:

• Encourages the leveraging of DOE R&D; funds dedicated to complementary projects within the laboratory complex, and then leverage the IP developed by these projects
• Facilitates licensing negotiations
• Non-exclusive bundle licensing of IP is more cost-effective and allows the licenses to fulfill equal opportunity, minimize the potential for conflicts, and spreads DOE technology across larger numbers of licensees
• Improves probabilities of successful deployment of the technologies created in the laboratories into the commercial marketplace
• Enhances IP portfolios of each participating laboratory by placing them into a bundle making the IP more desirable to private industry
• Helps DOE fulfill a statutory mission of the national laboratories in technology transfer

The IPBA was developed under a cooperative agreement between the Department of Energy’s NNSA and Technology Ventures Corporation.…

Advent Solar may create 1,000 jobs 11/10/2005

Advent Solar Secures $30 Million in Series C Funding Company to build a 25-megawatt solar cell plant at Mesa del Sol Albuquerque, New Mexico – November 10, 2005 – Advent Solar, Inc., a manufacturer of advanced solar cells and modules, announced today that it has secured $30 million in Series C funding.

The round was led by Battery Ventures, a venture capital firm focused on investing in technology-driven companies at all stages of growth. Existing investors EnerTech Capital Partners, @Ventures, the New Mexico Co-Investment Partners (managed by Fort Washington Capital Partners Group), and Angels with Attitude also participated, as did new investor, Firelake Capital.

Advent Solar will use the financing to build and operate a 25-megawatt plant for the production of its photovoltaic (PV) solar cells and modules. The company applies a unique Emitter Wrap-through (EWT) design to its back-contact solar cells, delivering higher efficiency, lighter weight, and lower per-watt cost than traditional solar cells. This patented design was originally developed at Sandia National Laboratories.

Advent’s new production facility will be located in Mesa del Sol, a brand new 12,000-acre development and solar cluster in Albuquerque, New Mexico. Advent will ship its first products to customers later this year from its pilot line and expects to be in full production at its new facility in 2007.

Advent is bringing to market a full line of advanced PV cells and modules that have the potential to be much lower cost than conventional technology,” said Advent CEO Rusty Schmit. “Unlike thin films and organic PV technologies; Advent’s technology uses industry-standard materials and processes that can more than satisfy our customers’ requirements in a market where demand exceeds supply, while significantly lowering implementation risk.” “There is pent-up user demand for highly efficient, affordable alternative energy, and Advent has shown through its rapid pilot development that they have the technology and the strategy to meet that demand,” said Battery Ventures Partner, Ken Lawler, who joins the company’s Board of Directors.

“The innovation in the industry continues at a rapid pace, and we’re looking forward to working closely with this particular team to support the continued growth trajectory and help execute their plans to scale to high-volume production.”

About Advent Solar Advent Solar, Inc. is a leading manufacturer of innovative solar cells and modules. Its unique, exclusive cell technology was originally developed at Sandia National Laboratories (SNL), and is in a class of solar cells referred to as back-contact cells. This technology is the basis for Advent’s high-performance products with dramatically lower costs than conventional solar photovoltaic (PV) technology.

About Battery Ventures Founded in 1983, Battery Ventures is a leading venture capital firm focused on investing in technology companies at all stages of growth from seed to later stage and tech buyouts.

Battery leverages its people, expertise, and capital to actively guide companies to category dominance. From its offices in Wellesley, MA and San Mateo, CA the partnership manages over $2 billion in committed capital, including its new fund of $450 million. For more information, visit www.battery.com.

About EnerTech Capital Partners. EnerTech Capital Partners, ECP, was founded in 1996 and is a leading, early-stage, energy technology investor. For more information, visit www.enertechcapital.com About @Ventures @Ventures, the venture capital group affiliated with CMGI, Inc., invests in early-stage and mid-stage technology companies.

Formed in 1995, @Ventures has funded more than 70 Internet, software, IT, and clean energy companies, focusing on early-stage companies in emerging but potentially large markets. The primary focus of @Ventures’ fifth fund, formed in 2004, is on investments in clean energy technologies, including alternative energy, energy efficiency, and water purification and management.

For more information, visit www.ventures.com. About New Mexico Co-Investment Partners, managed by Fort Washington Capital Partners Group is the private equity division of Fort Washington Investment Advisors, Inc.

FW Capital currently offers fund of funds, co-investment funds, and private equity advisory services to a wide range of institutional investors including public and state entities, corporations, banks, insurance companies, endowments and foundations and high-net-worth individuals.…