Many startups rely on personal assets or family for initial funding. A leg up may be available through the following programs:
Entrepreneurs and startups with a scalable idea that are accepted into the ABQid accelerator program receive mentorship intensives and stipends in exchange for an equity position. The program is meant to lead to next-stage investment from a group like the New Mexico Angels or a venture fund.
Arrowhead Innovation Fund (AIF)
AIF was created by New Mexico State University (NMSU) and Arrowhead Center to provide seed and early-stage investments to commercialize promising technologies developed by affiliates of NMSU. The $2,000,000 fund will make equity investments in the range of $50,000-$150,000 beginning Spring 2017. For application period, consult Arrowhead’s website.
State-backed investment program launched in 2016 to invest in venture funds around the state that make seed and early-stage capital available to startups. The first round of investments were announced in the spring of 2017 and include: Cottonwood Technology, Tramway Ventures, and NMSU’s Arrowhead Innovation Fund.
The Arrowhead Center program identifies promising early-stage technologies and provides commercialization support. Services include product development and direct mentorship to assess and validate technologies, explore customer development, and identify investment opportunities. Launch is open to faculty, staff, students and recent alumni from any NMSU campus, as well as non-NMSU entrepreneurs and industry partners applying with one of the above.
Graduates of the business accelerator program are eligible to apply for National Science Foundation grants.
Funding continuum courtesy of New Mexico Community Capital & updated by Finance New Mexico