Scale UP NM, NM Angels announce partnership


By Ryan Boetel for the Journal Business Editor

The Scale Up New Mexico program last week announced it is partnering with New Mexico Angels on TechSprint accelerator programs in 2024.

The goal of the partnership is to provide local startups with more access to mentorship, advice and funding sources.

The Scale Up program is funded in part by the United States Economic Development Administration and housed at New Mexico State University’s Arrowhead Center. The program offers a suite of support programs for startups in the early stages. One of the goals is to create New Mexico-based businesses that lead to high-paying jobs.

TechSprint is one of the Scale Up program initiatives.

New Mexico Angels, which is partnering with the Scale Up program, invests in early-stage companies in New Mexico and the Southwest.

New Mexico Angels has invested more than $25 million since 1999 into startup companies, according to the group’s website.

“We are thrilled to announce our collaboration with New Mexico Angels for the TechSprint accelerator programs in 2024,” said Carlos Murguia, Scale Up NM’s program manager. “This partnership exemplifies our dedication to providing unparalleled support for startup founders, connecting them with experienced mentors and potential investors. We believe that by bridging the gap between startups and angel investors, we can catalyze innovation and contribute to the growth of the entrepreneurial ecosystem in New Mexico.”

TechSprint is one of Scale Up New Mexico’s programs that aims to provide startup support to technology venture development.

To qualify for TechSprint, startups must be based in New Mexico or have plans to move to New Mexico. Participants also should be available to attend a weekly two-hour virtual session during the program.

“By joining forces, we aim to create a powerful synergy between startup founders and angel investors,” said Drew Tulchin, president of New Mexico Angels. “Together, we look forward to providing invaluable mentorship, guidance and investment opportunities that will propel these startups to new heights.”

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