You could use something like this:
import re
s = #that big string
# the parenthesis create a group with what was matched
# and '\w' matches only alphanumeric charactes
p = re.compile("name +(\w+) +is valid", re.flags)
# use search(), so the match doesn't have to happen
# at the beginning of "big string"
m = p.search(s)
# search() returns a Match object with information about what was matched
if m:
name = m.group(1)
else:
raise Exception('name not found')