Entrepreneurship
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Entrepreneurship

food truckSmall business start-ups, solo-workers, technology commercialization, business accelerators and incubators, maker spaces, and equity symposiums, etc.

Strategies: 

  • Invest in and support Innovate ABQ, State and local funds for business investment.
  • Increase the number of technical assistance providers to retain and expand local businesses.
  • Create mid-level equity fund for emerging companies ($1M to $4M revolving every 5 years.  This could come from the State Investment Council’s Equity Investment Fund).
  • Increase funding for economic development marketing to bring awareness of the Albuquerque Metro region.
  • Increase broadband fiber optics throughout the region and affordable access to it.
  • Facilitate access to capital at different levels (Main Street, microenterprise, innovation-led, second stage, etc.).
  • Create a climate for entrepreneurs and forward thinking businesses that encourages, supports and nurtures breakthrough ideas, technologies and game-changing concepts that few places can offer.
  • Recruit and retain millennial talent to our region.
  • Assure a hip and cool place with amenities conducive to cultivating entrepreneurship.
  • Market the region to interested companies, talent through Ingenuity Central.
  • Support entrepreneurial development, such as boot camps, ABQid, 1 Million Cups, Deep Dive Coders, Creative Startups, Keshet, C3, etc.
  • Support business incubation programs, such as WESST, Mixing Bowl, Keshet, Biosciences Center, Fat Pipe, Innovate ABQ.
  • Increase awareness of lending capital by facilitating access to micro lenders, Accion, WESST, NM Loan Fund, La Montanita Coop’s LAM fund, etc.
  • Support maker spaces that allow entrepreneurs to develop prototypes, interact with practitioners, etc.

Key Partners: 

The Mixing Bowl, Keshet, Biosciences Center, Fat Pipe, Innovate ABQ, Accion, WESST, NM Loan Fun, La Montanita Coop, UNM, CNM, City of Albuquerque, Bernalillo County, City of Rio Rancho, Sandoval County, Creative Startups, Abqid, Keshet Ideas and Innovation Center.

Measures:

  • Number of new start-ups increase year over year.
  • An increase in the amount of public investment in local companies.
  • State Investment Council makes at least one investment in a private company each year. 
  • Numbers of participants in local entrepreneurial mindset training increases each year.
  • Annual participants in 1 Million Cups increases each year.
  • Number of Start-up weekends and other events to attract entrepreneurs.
  • At least one public Maker Space by 2019. 
  • Number of successful businesses with revenue growth and/or expansion plans.

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