$1 million sought for University of New Mexico tech startup seed funding

Stefanie Botelho's picture

The University of New Mexico may be putting more skin in the technology transfer game with a new $1 million fund to invest up to $100,000 in startup companies working to take UNM inventions to market.

The UNM Foundation and the directing board of the Science and Technology Corp., which manages UNM’s technology commercialization, agreed to create the fund if regents approve it, said STC President and CEO Lisa Kuuttila.

“We’ll present it to the regents in April,” she said. “If approved, the foundation would provide $1 million that the STC would use to boost capital commitments by other local investors in startup companies. We won’t make unilateral commitments, but rather co-invest with angel investors or venture capital funds.”

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