Tech CEOs reflect on soon-to-close Tech Ventures Corp.
Technology Ventures Corp., a nonprofit tech transfer organization founded by Lockheed Martin in 1993, will be shutting down at the end of April. The Wednesday afternoon announcement came as a disappointment to several business owners who attribute their successes to TVC. ...
Among those businesses is UbiQD, which is working on technology that could turn windows into solar panels. Hunter McDaniel, CEO and founder of the Los Alamos-based company, was saddened by the news.
"TVC was a valuable resource for entrepreneurs in the state, particularly those spun out of Sandia and Los Alamos National Laboratories," McDaniel said. "Commercializing technology developed in the labs is extremely challenging and TVC provided UbiQD with critical intellectual property training, market research and helped us refine our investor pitch."
UbiQD presented in TVC's Deal Stream Summit in 2015. The event allowed startups to showcase their technology in hopes of attracting investors. Since its presentation, UbiQD has seen revenues increase 600-fold and has filed seven patents. It has also grown its workforce from one full-time employee to seven and raised about $1 million in funding.
UbiQD previously received more than $520,000 total in funds and vouchersfrom the National Science Foundation and the Department of Energy Small Business Vouchers Pilot program, respectively. It also won first place, and $10,000, in ABQid's Ski Lift Pitch Contest in March 2016.
"Ultimately, we were successful with their assistance," McDaniel said.
Read the full story in the Albuquerque Business First.