A consortium of US-based angel investors are planning to develop an incubator for tech transfers from New Mexico University.
The New Mexico Angels (NMA), a group of more than 76 angel investors based in and around Albuquerque, New Mexico, has unveiled plans to build a startup incubator for technologies spun out from University of New Mexico (UNM).
The incubator, called The Startup Factory, has already taken up options for two technologies, ultra-fast optical receivers and a method to encapsulate fungi, from UNM. Two more, a dissolvable oral strip for food burns and a method to increase analysis rates of cell meters, are also likely to be taken up by the Angels, according to news provider The Albuquerque Journal (AJ).
The move follows a growing partnership between NMA and UNM’s tech transfer unit The Science and Technology Corp (STC) over the past three years. NMA president John Chavez told the AJ that showcase meetings between the two have seen three companies spun out of STC since 2010.
“All the New Mexico Angels are experienced businesspeople who once they get interested in a project provide mentoring, business direction, strategy and fundraising expertise, all of which are critical to early-stage ventures,” said STC president and chief executive officer Lisa Kuuttila.
She added: “Academics don’t have those skills, and most faculty are more interested in continuing their research. They’re happy to play a role in technology transfer, but they don’t want to stop teaching and working with students.”
