New Mexico State University announced the VentureFunding Sprint online accelerator program on Sept. 1 as part of the Scale Up New Mexico initiative which is supported by the United States Economic Development Administration and based at New Mexico State University's Arrowhead Center, according to a press release. As part of this initiative, the VentureFunding Sprint online accelerator is inviting applications from tech startups in New Mexico for its free program running from Oct. 5 to Nov. 9.
Applicants for the VentureFunding Sprint online accelerator program must submit their applications by Sept. 25, with notifications of selection expected by Sept. 29. VentureFunding is a component of Scale Up NM, a comprehensive suite of startup support programs tailored for businesses involved in early-stage technology development. This program builds upon existing initiatives within the Arrowhead Center, including Sprint business accelerators, assistance with Small Business Innovation Research/Small Business Technology Transfer and support for commercialization efforts, according to the release.
“Our sprint model encourages partnerships among entrepreneurs and stakeholders, facilitating a seamless entry into the entrepreneurship ecosystem and forming significant relationships that could lead to potential investment opportunities,” said Dana Catron, deputy director of Arrowhead Center. “Empowering entrepreneurs with the tools to navigate the complex realm of fundraising ensures not only their own success but also drives innovation and economic growth.”
During a six-week period, participants convene weekly to delve into various fundraising facets, encompassing terminology comprehension, negotiation skills with potential investors and crafting materials to attract investment effectively. Additionally, each participant gains access to weekly one-on-one sessions with an Arrowhead team member or mentor.
“Throughout the sessions, founders benefit from the guidance of advisers, angel investors and venture capitalists who assist them in understanding the necessary documentation and materials investors use to assess an opportunity,” said Carlos Murguia, Scale Up NM program manager.