Working to Advance Economic Development in Northern New Mexico Since 1997

11 Jul

2018 Request for Proposals: Native American Venture Acceleration Fund (NAVAF)

Regional Development Corporation in partnership with the Los Alamos National Laboratory and Los Alamos National Security, LLC seeks to further the development of tribally held businesses in Northern New Mexico as a way of creating jobs and diversifying the economy.

 

Purpose:  The Native American Venture Acceleration Fund will make awards to companies owned by a federally recognized Indian tribe or businesses owned by an enrolled member(s) of a federally recognized Indian tribe for critical technical services that lead to increased revenues and employment for the company.  Awards are made on a competitive basis and are intended to provide services to tribal business entities that allow the company to diversify revenue, leverage other investments, create new jobs and have systems in place that lead to growth.

 

Award Size$1,000 Up to $20,000

 

Eligible Applicants:

  • Business enterprise must be at least 51% owned and controlled by a tribal member
  • A tribal member or corporation of the Pueblos of Nambe, Ohkay, Picuris, Santa Clara, Pojoaque, Taos, San Ildefonso, Tesuque, Cochiti or Jemez.
  • Company must be located in the counties of Sandoval, Santa Fe, Los Alamos, San Miguel, Mora, Rio Arriba or Taos.
  • Entities which have been awarded in the past are eligible to apply again as long as the company successfully completed prior awards and proposal is for a new line of business or initiative.

 

Awards may be used to procure equipment or specialized services which will lead to increased revenues and employees.  Some examples of the authorized specialty services are listed below. Please note, if you do not see a service you would like to have assistance with please contact us to see if it is an approved service:

  • Accountants
  • Business Consultants
  • Marketing Experts
  • Website Developers
  • Horticulture Consultants

 

Awards will not be issued nor approved to pay for regular operating expenses, salaries, gaming, alcohol, tobacco, illegal activities or proposals from a previously awarded entity for the same line of business or initiative. Funding will not be made directly to awardees.

 

Selection Process:

Proposals which meet the eligibility requirements will be evaluated by a committee of local or regional business experts.  Proposals will be evaluated on their potential to create new jobs, increase or diversify revenues for the company, and leverage other investments. Scoring will be based on both the written proposal and the oral presentation.

 

 

Deadline: 

Written Proposals must be received no later than 5:00 pm, August 3, 2018.

For those selected as finalists, oral presentation will take place August 20-23.

 

Instructions to Apply

To apply for the Native American VAF funding, download this document which can be found at www.rdcnm.org, fill in each question below, and e-mail the document to Val Alonzo at the Regional Development Corporation, val@rdcnm.org by 5:00 pm on August 3, 2018.  Please use the subject line “Native American VAF Application” in your e-mail.  You will receive a reply e-mail acknowledging your application.  The application should not exceed three (3) single-spaced pages.  You will be asked to elaborate on the same questions in a presentation and interview if you are selected as a finalist.

 

  1. Company Description (up to 10 points)

Describe your proposed or existing company, including:

  • Names of owners of the company
  • Complete contact information for proposal (contact name, mailing address, phone and e-mail)
  • Percentage of company owned by a tribal member
  • Tribal affiliation of the owners
  • Has the company received a previous award through the Native American VAF? If so, for how much and what were the impacts of the award?
  • Date business established
  • Location (physical address or addresses of the business)
  • Number of employees
  • Company mission and/or product offerings (briefly)
  • Development status of product or service for which Native American VAF funding is sought
  • Annual revenues (if applicable)

 

  1. Project Description (up to 20 points)

Provide a summary of the proposed project. The summary should “tell a story” and should be written so that a non-technical person can understand it. The summary may be used later, in whole or in part, in public documents, including press releases, and shall not contain proprietary/trade secret information. The summary should:

  • State the amount of funds you are requesting and include a detailed budget.
  • Define the business problem you are addressing for the use of Native American VAF funds. (briefly)
  • Define your solution. (briefly)
  • Describe how the proposed project will increase revenues and total number of company employees both short and long term.
  • Describe the significant regional economic and strategic benefits of the proposed project for New Mexico.

 

 

  1. Milestones and Use of Funds (up to 20 points)

Describe the milestones to be completed for the project:

  • Describe how the Native American VAF funds will be used and why these funds are critical at this time.
  • Describe commercial and technical challenges to be addressed and why solutions to these challenges will increase company revenues and employees.
  • State the tasks to be completed and the milestones to be achieved. Include a tentative timeline.
  • Describe the expertise of specific firm or entity that will provide technical assistance.
  • Give a cost estimate for the work or provide a proposed budget for funding requested.

 

Milestones are short-term, well defined, goal-oriented events. For example, good milestones might include the following:

  • Constructing a prototype within 12 months of receiving Native American VAF award
  • Providing specialized training to be completed by a specified date
  • Developing a marketing strategy for a new product

 

Milestones unacceptable for Native American VAF include:

  • General development work
  • Time-specified rather than task-specified work
  • Work for which a tangible result cannot be communicated

 

  1. Commercial Impact (up to 20 points)

The proposed project must demonstrate its ability to generate revenue and have a compelling market need. The proposed project’s product or service should be well defined or developed. Some examples of pertinent questions to answer to demonstrate a compelling market need include:

  • What problem, for what customer, do you want to solve? How does the Native American VAF project get you closer to solving the problem?
  • Who are your competitors?
  • Who might purchase the product or service being developed?
  • Is your market segment and the overall market growing? If so, how fast?
  • Why will people switch from the current solution to your proposed solution?
  • What unique advantages does your product or service provide?

 

  1. Regional Impact (up to 20 points)

The proposed project should offer value and economic potential that can further develop the New Mexico economy. To the extent possible, quantify the impact by estimating new job creation, new product sales, new investments in the company and/or the region, new regional facilities, etc. Projects that offer primary impact to the economy of Northern New Mexico will be given high priority.

 

 

  1. Team Composition (up to 10 points)

The applicant shall identify the principals who will work on this project and, if applicable, the company’s management team with roles and responsibilities described.

  • Include a short, one-paragraph description summarizing the technical, management, business experience and capabilities of the principals.

 

Deadline: 

Written Proposals must be received no later than 5:00 pm, August 3, 2018.

For those selected as finalists, oral presentation will -take place August 20-23.

 

 

For more information about the Native American Venture Acceleration Fund, please contact: Val Alonzo, 505-231-3550, val@rdcnmn.org, or Vangie Trujillo with Los Alamos National Laboratory at 505-665-4284, vangie@lanl.gov

 

09 Feb

CALL FOR PROPOSALS: VENTURE ACCELERATION FUND (VAF)

NOW ACCEPTING 2018 APPLICATIONS
Applications Due March 12, 2018

Española, New Mexico, February 9, 2018 – Applications are now being accepted for the Venture Acceleration Fund (VAF) from Northern New Mexican technology and manufacturing firms. Applications for the 2018 calendar year are due March 12th to the Regional Development Corporation (RDC), the program’s administrator. Selected companies will receive financial awards to assist in taking their innovations to market more quickly. The median award amount has averaged $36,000.

“This is the twelfth year that Los Alamos National Security, the company that manages the Laboratory, will invest in northern New Mexico companies and entrepreneurs,” said Kathy Keith, director of Los Alamos National Laboratory Community Partnerships Office. “The VAF has provided valuable assistance to many of our small businesses in Northern New Mexico as they grow and create new jobs.”

“At the RDC, one of our primary concerns is jobs for Northern New Mexico, and the VAF program has helped create and retain more than 693 jobs since the program launched in 2006,” said Val Alonzo, Executive Director of the RDC.

History
Los Alamos National Security, LLC (LANS) launched the VAF in 2006 and the RDC has been the fund’s administrator since its inception. Since then, the VAF program has assisted 60 New Mexico companies through marketing and technology development activities such as proof-of-concept, prototyping, developing market share, launching products or leveraging funding. This year funding LANS remains the primary funder with additional funding provided by the City of Santa Fe, Santa Fe County, Los Alamos County, and the New Mexico Manufacturing Extension Partnership.

Eligibility
To be eligible to apply for VAF, companies must be technology or manufacturing firms and must be headquartered in one of seven northern New Mexico counties-Los Alamos, Santa Fe, Sandoval, Rio Arriba, Taos, San Miguel and Mora. Preference is given to firms that can demonstrate their ability to stimulate job growth and attract additional revenue to the region. To accommodate the increasing number of applicants, past VAF awardees are not be eligible to reapply.

Structure
The VAF award is structured with repayment required only if a company is acquired, leaves New Mexico, or fails to provide mutually agreed-upon support to northern New Mexico’s start-up community. The repayment trigger was instituted in 2013 to help make the fund sustainable and support future entrepreneurs.

This year the RDC is offering Market Strategy and Finance for Startups in February to help businesses address application issues most commonly cited by VAF review committee members. VAF applications are reviewed by an independent panel comprised of entrepreneurs, investors and economic development professionals. Those companies not selected for a VAF award are often connected with other resources that can help them meet their goals.

More information about the Venture Acceleration Fund, including the VAF application, terms and conditions, eligibility criteria, and workshop schedule are found at www.rdcnm.org/vaf.

About the Venture Acceleration Fund (VAF)
The VAF is a collaborative investment established by Los Alamos National Security, LLC (LANS) in 2006. This year LANS, along with funding partners Los Alamos County, the City of Santa Fe, Santa Fe County, and the New Mexico Manufacturing Extension Partnership (MEP) are investing in the economic health of New Mexico via their support of growth-oriented companies. The fund is managed by the Regional Development Corporation of Española, New Mexico. Visit www.rdcnm.org/vaf.

About the Regional Development Corporation (RDC)
The Regional Development Corporation is a non-profit economic development organization based in Española, New Mexico, focused on creating a diverse and sustainable economy in northern New Mexico. Visit www.rdcnm.org.

18 Sep

RFP: Native American Venture Acceleration Fund

The Regional Development Corporation in partnership with the Los Alamos National Laboratory and Los Alamos National Security, LLC seeks to further the development of tribally held businesses in Northern New Mexico as a way of creating jobs and diversifying the economy.

 

Purpose:  The Native American Venture Acceleration Fund will make awards to companies owned by a federally recognized Indian tribe or businesses owned by an enrolled member(s) of a federally recognized Indian tribe for critical technical services that lead to increased revenues and employment for the company.  Awards are made on a competitive basis and are intended to provide services to tribal business entities that allow the company to diversify revenue, leverage other investments, create new jobs and have systems in place that lead to growth.

 

Award Size$1,000 Up to $20,000

Continue Reading

18 Sep

RFP: Native American Venture Acceleration Fund

The Regional Development Corporation in partnership with the Los Alamos National Laboratory and Los Alamos National Security, LLC seeks to further the development of tribally held businesses in Northern New Mexico as a way of creating jobs and diversifying the economy.

 

Purpose:  The Native American Venture Acceleration Fund will make awards to companies owned by a federally recognized Indian tribe or businesses owned by an enrolled member(s) of a federally recognized Indian tribe for critical technical services that lead to increased revenues and employment for the company.  Awards are made on a competitive basis and are intended to provide services to tribal business entities that allow the company to diversify revenue, leverage other investments, create new jobs and have systems in place that lead to growth.

 

Award Size:  $1,000 Up to $20,000

Continue Reading

21 Feb

CALL FOR PROPOSALS: VENTURE ACCELERATION FUND (VAF) NOW ACCEPTING 2017 APPLICATIONS

Española, New Mexico, February 21, 2017 – Applications are now being accepted for the Venture Acceleration Fund (VAF) from Northern New Mexican technology and manufacturing firms. Applications for the 2017 calendar year are due March 31st to the Regional Development Corporation (RDC), the program’s administrator. Selected companies will receive financial awards to assist in taking their innovations to market more quickly. The median award amount has averaged $36,000.

 

“This is the eleventh year that Los Alamos National Security, the company that manages the Laboratory, will invest in northern New Mexico companies and entrepreneurs,” said Kathy Keith, director of Los Alamos National Laboratory Community Partnerships Office. “We’re excited to be able to continue this program in 2017 because it has assisted many of our small businesses in Northern New Mexico at critical junctures.”

 

“The VAF has been a key source of seed financing for early-stage technology and manufacturing startups in the region, and has helped create and retain more than 488 jobs since the program launched in 2006,” said Val Alonzo, Executive Director of the RDC.

 

History

Los Alamos National Security, LLC (LANS) launched the VAF in 2006. Since then, the VAF program has assisted 60 New Mexico companies through marketing and technology development activities such as proof-of-concept, prototyping, developing market share, product launching or leveraging funding. This year LANS remains the primary funder, with additional funding from the City of Santa Fe, Santa Fe County, Los Alamos County, and the New Mexico Manufacturing Extension Partnership.

 

Eligibility

To be eligible to apply for VAF, companies must be headquartered in one of seven northern New Mexico counties—Los Alamos, Santa Fe, Sandoval, Rio Arriba, Taos, San Miguel and Mora. Preference is given to technology and manufacturing firms that can demonstrate their ability to stimulate job growth and attract additional revenue to the region. To accommodate the increasing number of applicants, past VAF awardees are not be eligible to reapply.

 

Structure

The VAF award is structured with repayment required only if a company is acquired, leaves New Mexico, or fails to provide mutually agreed-upon support to northern New Mexico’s start-up community. The repayment trigger was instituted in 2013 to help make the fund sustainable and support future entrepreneurs.

 

This year, workshops on Market Strategy, Finance for Startups, and Pitch will be offered in March to help businesses address application issues most commonly cited by VAF review committee members. VAF applications are reviewed by a panel comprised of entrepreneurs, investors and economic development professionals. Those companies not selected for a VAF award are often connected with other resources that can help them meet their goals.

 

More information about the Venture Acceleration Fund, including the VAF application, terms and conditions, eligibility criteria, and workshop schedule are found at www.vafnm.org.

 

About the Venture Acceleration Fund (VAF)
The VAF is a collaborative investment established by Los Alamos National Security, LLC (LANS) in 2006. This year LANS, along with funding partners Los Alamos County, the City of Santa Fe, Santa Fe County, and the New Mexico Manufacturing Extension Partnership (MEP) are investing in the economic health of New Mexico via their support of growth-oriented companies. The fund is administered by the Regional Development Corporation of Española, New Mexico. Visit www.vafnm.org.

 

About the Regional Development Corporation (RDC)

The Regional Development Corporation is a non-profit economic development organization based in Española, New Mexico, focused on creating a diverse and sustainable economy in northern New Mexico. Visit www.rdcnm.org.

 

Working to Advance Economic Development in Northern New Mexico Since 1997