Tech Transfer eNews Blog

Tech transfer arm of Sandia National Labs is closing its doors this month

By Jesse Schwartz
Published: April 5th, 2017

Technology Ventures Corp. (TVC), the 24-year-old tech transfer agency for Sandia National Laboratories as well as multiple Department of Energy labs around the country, is shutting down at the end of April.

Over the past two decades, TVC has been a major boon to tech start-up communities in New Mexico, helping to create 121 companies and 13,500 new jobs. The organization has launched programs such as its annual Deal Stream Summit that have brought dozens of investors to Albuquerque every year and helped to attract $1.2 billion in start-up investments.

Lockheed Martin Corp. created TVC after taking over management of Sandia National Laboratories in 1993 under a contract that ends on April 30 this year. Lockheed lost its bid last year to continue managing the lab, and the National Nuclear Security Administration gave the new contract to Honeywell International. In the wake of the lost contract, Lockheed decided to close TVC.

“We made this decision based on where the Sandia management is going,” says Matthew Kramer, spokesperson for Lockheed. “TVC made great contributions to the community and businesses in New Mexico, and we’re very proud of that.”

TVC currently employs nine people, in addition to two contract employees. According to Kramer, “They won’t be employed by TVC after April, but Lockheed does offer assistance to help seek other employment opportunities with Lockheed Martin, or with other organizations.”

Source: Albuquerque Journal

Posted under: Tech Transfer e-News

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