From the Angels: Scale Up NM program joins state’s growing entrepreneurship village
BY CARLOS MURGUIA / ASSOCIATE, ARROWHEAD INNOVATION FUND
New Mexico is often known for its breathtaking landscapes, rich cultures, and remarkable history, but not always a center for technology-based startups.
However, the state is rapidly changing, with a surge in entrepreneurship, innovation, and investment, particularly in the tech sector. This transformation is driven by many stakeholders, including universities, investors, policymakers, and the community, all of which are working together to create an ecosystem where entrepreneurs can thrive.
Capital access is critical to building an entrepreneurship ecosystem, and startups need a variety of investment options, including angel investors, venture capitalists, and government and philanthropic grants to get off the ground and grow.
New Mexico Angels is at the forefront of this movement, providing early-stage capital to startups in New Mexico and beyond.
New Mexico boasts a rich pool of talent, with world-class universities such as New Mexico State University, the University of New Mexico, and New Mexico Tech, which produce a steady stream of skilled graduates. These graduates are drawn to the state’s affordable cost of living, unique lifestyle offerings, and vibrant communities, including the growing startup scene, which offers opportunities to work on innovative projects, collaborate with like-minded people and make an impact in their communities.
Entrepreneurs need resources such as mentorship, training, and networking opportunities to succeed, which is where organizations like the Arrowhead Center and the newly launched Scale Up NM Program come in. This is a new program for early-stage technology development that provides startup support for entrepreneurs in the crucial early stages of building and scaling their technology-focused ventures.
The program includes a range of offerings, such as cohort-based accelerators, SBIR/STTR support, an Intellectual Property and Investment course, financing boot camps, events, and programs that empower women in technology commercialization and pitch competitions.
The startups in New Mexico are developing cutting-edge technologies in fields such as renewable energy, advanced materials, artificial intelligence, and cybersecurity. They are generating economic growth and creating new jobs, contributing to the diversification of the state’s economy and reducing reliance on traditional industries.
Building an entrepreneurship ecosystem requires the collective effort of many stakeholders. By working together, investors, policymakers, universities, and community members can create an environment where entrepreneurs can thrive, driving economic growth and innovation in our communities. Therefore, everyone’s contributions are critical to building a brighter future for entrepreneurship in New Mexico.
New Mexico Angels’ members, investors and startup owners submit occasional columns on economic development and start-up opportunities in the state. The Angels unite individual investors to pool their resources, providing seed and early-stage capital to startup companies.
Read on the ABQ Journal’s website here
