Small Business incubators and accelerators exist to provide startups with targeted support and resources to help launch a successful business. While both incubators and accelerators exist for the same purpose, they approach the initial startup process differently. Incubators house and support businesses as they develop at their own pace, while accelerators speed up the initial process of starting a business to only a few months. Studies have shown that incubated businesses have a survival rate of 87%, while only 44% of small businesses that work in isolation survive. Incubator-based enterprises are also more attractive to prospective investors. Read more about incubators and accelerators in New Mexico below.
NMEDD Certified Business Incubators
The following incubators have been certified by the New Mexico Economic Development Department's certification criteria that aligns with the International Business Inovation Association’s (INBIA) best practices.
South Valley Economic Development Center (SVEDC)
SVEDC is a collaborative effort between Bernalillo County and the Rio Grande Community Development Corporation (RGCDC) to serve the South Valley. The facility is a business and kitchen incubator, community facility, and coworking space (The Sandbox). The 17,000 square foot center offers flexible leases and rentals of office space, conference rooms, and facility use. SVEDC is home to the Mixing Bowl, a program that offers food-based businesses access to a commercial kitchen and other resources. A business mentorship program is also available through the SVEDC.
WESST Enterprise Center
WESST Enterprise Center, located in downtown Albuquerque, provides amenities and business assistance for up to 20 small business clients, whether they have offices within or outside of the incubator. Services and facilities are focused on a variety of industries including: artisan manufacturing, digital media production, information technology, and business and consumer services.
Santa Fe Business Incubator (SFBI)
Santa Fe Business Incubator offers office and light manufacturing space with affordable short-term leases. The incubator recently opened a new Bio Science Lab, which is a unique resource for science and technology companies. Other services include: entrepreneurial support services, networking events, seminars, workshops, media relationships, and access to the business and government communities.
Enterprise Center at San Juan College
Enterprise Center at San Juan College in Farmington is a business incubator that offers access to experienced advisors, helpful resources and connections, and office and manufacturing space. The facility also serves those who are not in the incubator program through Entre, the coworking space for businesses in San Juan County.
Arrowhead Center at New Mexico State University
Arrowhead Center, at New Mexico State University, brings researchers and entrepreneurs together to solve market problems and maximize market opportunities. This is done by commercializing the technology discovered by researchers and helping entrepreneurs navigate the market to monetize these new solutions.
The Arrowhead Technology Incubator (ATI) assists startups in building a strong team, and giving them access to tools and resources necessary for transforming ideas into businesses. Workshops, networking events, mentoring, assistance with capital sourcing and customer acquisition, and work-ready space are also available to incubator residents and friends.
ATI specializes in startups emerging in the following industries:
Power
Water technology
Internet technology
Agri-tech
Other Business Incubators
BioScience Center
The BioScience Center in Albuquerque is an incubator for bioscience and life-science startups. The 19,500 square foot facilities include both wet and dry labs, and office and conference space. Entrepreneurs can use the facilities as either resident or non-resident companies.
Resident companies pay monthly rent for 24/7 access to office and laboratory space, which includes IT infrastructure, unlimited use of conference space, and a place on the BioScience Center’s website and promotional materials.
Non-resident companies are eligible for a dedicated workspace in a shared office, and the ability to rent meeting and laboratory space.
Both resident and non-resident companies have access to free mentoring, coaching, consulting, shared reception, access to our group purchasing contracts, workshops and seminars, and kitchen and break room space.
FatPipe
FatPipe in downtown Albuquerque is a combination incubator and coworking space that fosters a highly collaborative and productive workplace environment. The 10,000 square foot facility is equipped with furniture, multi-media equipment, IT infrastructure, and a 300 MB “fat pipe” to the Internet. Experienced professionals offer mentoring and connections to potential investors and partners. Entrepreneurs can use the facilities as either resident or non-resident companies.
Resident companies pay monthly rent for “seats”, which includes 24/7 access to the facility, unlimited access to conference space, and a place on FatPipe’s website and promotional materials.
Non-resident companies can opt to pay daily or weekly rates for use of the facilities.
Both resident and non-resident companies receive free mentoring, coaching, consulting, IT infrastructure, access to group purchasing contracts, workshops and seminars, kitchen and lounge areas, multi-media equipment, and more.
Joseph L. Cecchi VentureLab
Located at the University of New Mexico Science & Tech Park, the STC CVL incubator program provides shared office facilites, business services, mentoring, advice, and the proximity to specialized facilites and laboratories required to support life sciences- and engineering/physical sciences-oriented ventures. The incubator provides fully enclosed, furnished offices and an adjacent conference room for meetings. The CVL also provides a Virtual Office package that is ideal for startup businesses.
Visit the BRC Directory for more business incubator programs.
Business Accelerators
ABQid
ABQid is a 12-week business accelerator program influenced by the Techstars accelerator curriculum. Startups accepted into this program receive $20,000 in exchange for 6% equity in their company. The 3 month program is a constant exercise in the lean startup method, which relies on testing your product/service and pivoting based on the feedback. Funding for this program is provided by the City of Albuquerque.
Creative Startups
Creative Startups is a virtual accelerator program targeting the creative economy. Its curriculum is based on the design thinking concepts and the lean startup method. Companies are aligned with mentors and all of the initial work is virtual. Then the companies meet for an intensive five-day boot camp, a pitch day and more.
IGNITE Community
IGNITE Community Accelerator, located at CNM STEMulus Center, is a 12-week program that provides entrepreneurs with the business skills needed to move their companies forward more quickly. The goal of the program is to provide training and support to entrepreneurs who are in the early stages of developing their business.
Startups must fill out an application for the program and they must have been in business for fewer than 3 years, must be a for profit venture, and have plans to grow by at least 5 full-time employees within 3 years. Accepted applicants are required to pay a $250 entrance fee to participate in the program and will be asked to contribute to a revenue sharing program with CNM Ingenuity in order to cover the cost of the program.
TEAM Technologies Accelerator
TEAM Technologies is an advanced engineering and manufacturing company located in the Sandia Science & Technology Park in Albuquerque. TEAM has been incubating and accelerating companies for over 15 years, but in the last 2 years, they have focused their efforts in building an on-site accelerator for over 15 companies. The 40,000 square foot facility houses a state-of-the-art machine shop; an electronics manufacturing facility; electrical, mechanical, and controls engineering labs; a metrology and inspection facility; and administrative office space.
In addition TEAM has a second 7,000 square foot facility, also located in Albuquerque, with a high voltage research laboratory, rapid prototyping capabilities, and general lab space for effectively conducting research and development.
Businesses in the accelerator have access to these engineering, manufacturing, and prototyping capabilities that may not be feasible or affordable without TEAM Technologies.
