Albuquerque, NM—October 6, 2015. UNM’s tech transfer and economic development organization, STC.UNM, recently received news that it is a finalist for an Award of Excellence from the University Economic Development Association (UEDA).
A large number of applications were submitted this year. Eighteen finalists were chosen and invited to present at the UEDA’s Annual Summit. The projects represented the top university-based economic development initiatives in the country.
STC submitted in the category of Innovation and Entrepreneurship based on its unique partnership with the New Mexico Angels in funding New Mexico start-ups based on UNM technology. STC CEO Lisa Kuuttila remarked:
“STC has built a unique relationship with the New Mexico Angels, a local group of private investors focused on investing in early stage companies. The partnership continues to generate critical funding for many of the University’s early stage technologies, and the start-up companies spun out from them, has fostered the creation of unique programs to increase funding levels, and offered support for larger initiatives that are being built on the foundation of the commercial fruits of success that this relationship has generated. The partnership has also demonstrated the value of supporting the entrepreneurial community for the economic benefit of the entire region. Available investment capital in New Mexico is a central component to commercializing UNM’s research. The partnership has produced mutual positive results for each organization. The Angels have been a model for how other investors and investor groups can work with university tech-transfer organizations to commercialize university inventions. STC has also become an example of the many ways university technology-transfer organizations can work with angel investors to increase the number of new companies and improve their odds of success. The partnership has resulted in many outcomes including six new companies being launched, expanding an entrepreneurial culture among the university’s faculty and students, and educating investors on the amazing innovations created by university inventors.”
Established in 1976 UEDA is the cornerstone membership organization for higher education, private sector and community economic development stakeholders. Members of UEDA are transforming their campuses into engines of economic prosperity. The UEDA Awards of Excellence accelerate this process by recognizing leading edge initiatives and encouraging their adoption among UEDA members.