A cohort of students from New Mexico State University and the University of Texas at El Paso successfully completed the 2026 Fourth Industrial Revolution Economy Venture Fellows program, finishing a competitive, one-semester fellowship in venture capital education and applied investment experience. Participants will now begin summer internships at venture capital and partner firms across the region.
The FIRE Venture Fellows program is housed within the Hunt Center for Entrepreneurship at NMSU's Arrowhead Center. The program prepares undergraduate and graduate students from the Borderplex region for careers in venture capital, startups and innovation-driven organizations by addressing long-standing gaps in representation across the investment landscape, expanding access to early-stage capital, and creating experiential learning opportunities connected to real-world investment activity.
"The 2026 FIRE Venture Fellows cohort demonstrated the kind of analytical depth and intellectual curiosity that the venture capital field demands," said Carlos Murguia, director of the Hunt Center for Entrepreneurship. "Seeing these students move directly from the fellowship into summer internships at VC and partner firms is exactly the outcome this program is built for. They are entering those roles with real skills, real deal experience, and a clear understanding of the innovation economy in New Mexico and the broader Borderplex. That is how we build the next generation of investors and founders in this region."
Throughout the semester, fellows developed skills in market research, startup evaluation, financial analysis, due diligence, and the preparation of investment memoranda and recommendations. They also explored key concepts including entrepreneurial ecosystem dynamics in New Mexico and El Paso, angel investing, cap table structures, term sheets, and the formation of effective startup teams. The program emphasizes critical analysis, investment evaluation and ethical decision-making in early-stage investing.
"The FIRE Venture Fellows program gave me my first real exposure to startups and entrepreneurship," said Grace Olagunju, a FIRE Venture Fellow from New Mexico State University. "Through the fellowship, I was able to have meaningful conversations about innovation and the important questions entrepreneurs need to answer. It was an eye-opening experience that helped me better understand the startup world and inspired me to think beyond the laboratory and research environment."
The 2026 cohort brought together undergraduate and graduate students with diverse academic backgrounds in finance, engineering, management, biology and related disciplines. Representing New Mexico State University were Grace Valentine Olagunju, Rasana Maharjan, Dustin Owen Garcia Reyes, Hamza Badrari and Samriddhi Ghimire. Representing the University of Texas at El Paso were Carlos Gael Hernandez Castro, Victoria Mascorro and Diego Hernandez.
Having completed the fellowship, the 2026 cohort will apply its training directly this summer through internships at venture capital firms and partner organizations. These placements extend the program's learning model beyond the classroom and connect fellows to professional networks and investment communities across the Borderplex and beyond.
"Being part of FIRE Venture Fellows reshaped how I see my future," said Carlos Gael Hernandez, a FIRE Venture Fellow from the University of Texas at El Paso. "I came in as an engineering student curious about startups, and I am leaving with a stronger understanding of how ventures get built, funded and scaled."
The 2026 program was led by Daniel Jones, entrepreneur-in-residence at Arrowhead Center. Jones is an NMSU graduate with more than 20 years of experience as an early- and growth-stage software entrepreneur and operator. He has built and scaled multiple venture capital-backed technology companies, reinforcing the program's commitment to applied learning and real-world investment experience.
"The FIRE Venture Fellows program gave me valuable insight into venture capital, startup evaluation and investment decision-making," said Hamza Badrari, a FIRE Venture Fellow from New Mexico State University. "The experience helped me better understand how innovation and investment can work together to create real-world impact."
For more information about the FIRE Venture Fellows program, contact Carlos Murguia at
The full article can be seen at https://newsroom.nmsu.edu/news/nmsu--utep-students-successfully-complete-2026-fire-venture-fellows-program/s/577cc39b-35a0-4646-9b70-3b37041db7f3
