Through the Lab MATCH Prize, part of the U.S. Department of Energy’s American-Made Challenges, we helped founders connect with cutting-edge intellectual property developed in national labs.
Finding Founders: Reaching Innovators Ready To Make a Difference
For nearly 30 years, VentureWell has cultivated a strong reputation for identifying and empowering innovators through offerings like our E-Team Program. This deep history of nurturing early-stage innovators has given us the expertise to find and engage entrepreneurs ready to bring groundbreaking technologies to market. Through the Lab MATCH Prize, we applied that same proven approach to recruitment. By leveraging our extensive network built through decades of collaboration across the VentureWell Accelerator, we tapped into a dynamic pool of talent with the right combination of vision and entrepreneurial drive.
By focusing on both seasoned entrepreneurs and emerging talent, we ensured that Lab MATCH participants were not only passionate but equipped with the experience and expertise needed to succeed.
Personalized Support: Coaching From VentureWell Staff
As we identified potential Lab MATCH innovators, Jesse Flanagan, director of Global Venture Programs at VentureWell, played a critical role in guiding applicants through the submission process. From one-on-one coaching calls to dedicated office hours, Flanagan helped each team refine their commercialization plans and align their business models with the available national lab intellectual property (IP). This hands-on mentorship ensured that each team had the tools and guidance necessary to advance with confidence.
From Application to Selection: A Competitive Group of Innovators Moves Forward
Out of the pool of applicants, 19 teams were selected as Phase 1 winners. Each team received $2,500 to develop comprehensive commercialization plans and advance to Phase 2. The selected innovators brought their own unique experiences and a shared commitment to creating real-world solutions, which included low-footprint biodegradable plastic resins and additives to create more sustainable products and packaging; and lightweight, flexible film solar technology that allows solar panels to be applied to any surface, lowering manufacturing costs and making solar energy more accessible.
The companies that won Round 1 represent a wide range of industries and focus areas, with notable emphasis on energy, defense, and technology innovation. Many of the winning companies are focused on cutting-edge solutions in renewable energy, including photovoltaic technologies, energy storage, and buildings-related energy efficiency. Others are advancing innovations in aerospace, transportation, carbon capture, and biogas.
Key sectors represented include:
- Renewable energy and energy storage
- Security and defense
- Transportation and aerospace
- Carbon capture and biogas
- Advanced materials and manufacturing
These companies are leveraging partnerships with national laboratories that include the Sandia National Laboratory (SNL), the National Renewable Energy Laboratory (NREL), and the Oak Ridge National Laboratory (ORNL) to advance solutions that address critical challenges in energy, environment, security, and technology.
Laying the Foundation: The Customer Discovery Webinar
To lay a strong foundation for success, we hosted a webinar on Customer Discovery Frameworks in May 2024. This session, which drew a dozen Phase 1 innovators, centered on customer discovery—an essential step in launching any innovation. Participants gained actionable strategies for aligning their innovations with market needs by learning how to conduct interviews and develop and validate hypotheses.
Coaching Calls: Tailored Support for Every Entrepreneur
VentureWell’s coaching calls were a key part of the Lab MATCH experience, providing individualized support to help teams refine their commercialization strategies and prepare strong Phase 2 applications. Of the 19 teams invited, 15 participants joined the coaching sessions, with many opting to book multiple one-hour sessions to maximize the value of the guidance provided.
The coaching calls covered crucial topics such as commercialization pathways and licensing agreements, with particular emphasis on clarifying the difference between research licenses and commercialization licenses. VentureWell staff also attended meetings with startups and the licensing offices at NREL, SNL, and ORNL.
Another important focus was on customer discovery strategy—helping teams fine-tune their approach to engaging with potential customers and synthesizing those insights for their Phase 2 applications.
What’s Next for Lab MATCH Teams?
As Lab MATCH moves into the next phase, these talented teams have submitted their Phase 2 applications, which include comprehensive commercialization plans. We are excited to see how these innovators will continue to advance their technologies, creating solutions that have the power to change industries and improve lives.
At VentureWell, we’re proud to be part of their journey. By connecting founders with groundbreaking IP, providing hands-on support, and fostering a collaborative ecosystem, we’re helping innovators bring their ideas to life. Together, we’re not just shaping businesses—we’re building a better future for everyone.
Stay Connected
Follow the Lab MATCH journey and other VentureWell initiatives by subscribing to our newsletter and staying engaged with us on LinkedIn, Facebook, Instagram, and Twitter/X. We look forward to continuing to empower the next generation of innovators.