Author Archives: Admin

NM MEP Helps Entrepreneur Prepare Revolutionary Product

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Matt Moser

Matt Moser, Innovation Director, NM Manufacturing Extension Partnership

Most entrepreneurs who approach the New Mexico Manufacturing Extension Partnership are well along in production of an invention or commodity. Some operate decades-old businesses but need help identifying and overcoming production bottlenecks and instituting lean processes that can increase their profitability and competitiveness.

Vince DiGregory tapped into the talent at MEP before he had even built a prototype for the folding flat-pack modules he hopes will revolutionize the temporary shelter industry for military and disaster relief operations.

DiGregory’s invention is an 8-by-8-foot folding structure that can interlock with other modules to create larger enclosures. The lightweight structure can be rapidly assembled and taken apart, making it ideal for small-scale, temporary operations. Continue reading →

Crowdfunding

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When used in a business context, crowdfunding refers to raising capital by giving small equity positions in a business to many investors in exchange for cash. Crowdfunded money can also be raised by offering a new or exclusive product, rather than ownership in the company, in exchange for cash. Crowdfunding is typically conducted on a website such as Kickstarter.

Grant

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Money, time or something of value that is awarded for a particular purpose. Generally, grants do not need to be paid back unless the recipient does not perform to the specifications of the grant.

Loan Guarantee

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A promise made by a person or organization other than the borrower to assume the borrower’s debt if the borrower defaults on the loan. When a loan guarantee is extended by the US Small Business Administration (SBA) or the US Department of Agriculture (USDA), the local bank’s risk is decreased and the borrower is often able to obtain a larger loan than if the bank assumed all of the risk.