The Scale Up New Mexico program, funded in part by the United States Economic Development Administration and housed at New Mexico State University’s Arrowhead Center, has selected its newest cohort of startups for the Venture Funding Sprint accelerator program.
Venture Funding is designed to empower New Mexico’s tech startup founders with the knowledge and skills required to successfully raise capital.
Enabling startup founders with the tools and knowledge necessary to secure investment from financiers is vital to New Mexico’s economic progress. These tech-driven startups hold a crucial position in advancing the state's economic landscape. Through their cultivation of innovation and entrepreneurial spirit, they become catalysts for job generation, magnets for capital infusion and engines of economic expansion. They actively participate in broadening the spectrum of industries, with a special focus on the technology and high-tech domains. This not only strengthens the economy’s overall robustness but also offers a platform for skilled professionals to flourish.
“The path to New Mexico's future hinges on the cultivation and empowerment of tech-based startups. Through the provision of essential assistance and education, we can unlock their capacity for groundbreaking innovation, propelling our state to the vanguard of technological progress and establishing us as a prominent center for innovation and economic well-being,” said Carlos Murguia, Scale Up NM program manager.
After a rigorous selection process, Scale Up NM has chosen 15 startups to participate in the program. The cohort consists of companies headquartered across New Mexico, each with a common goal of raising capital from investors. These startups represent various industries, including climate, energy, space, biotech, health, medical devices, telecom, agriculture, beauty and artificial intelligence, among others.
The selected startups will work on various aspects of fundraising, including understanding the terminology and instruments involved, negotiating with potential investors, and developing tools and deliverables needed to attract investment. Several startups slated to present at the Scale Up NM Pitch Competition are also members of the Venture Funding cohort.
“These startups serve as the driving force for transformation, shaking up conventional markets and igniting the entrepreneurial spirit,” said Dana Catron, deputy director at Arrowhead Center. “By nurturing their development, we are stoking the fires of innovation, laying the foundation for a dynamic and competitive economy.”
For more information about TechSprint, contact Murguia at cmurguia@nmsu.edu or visit https://arrowheadcenter.nmsu.edu/program/scale-up-new-mexico/venturefunding-sprint/index.htmlb .
The full article can be seen at https://newsroom.nmsu.edu/news/scale-up-nm-at-nmsu-announces-venture-funding-startup-cohort/s/fb40fb99-fe4d-4f75-bd25-1a6543496c89