New Mexico State University (NMSU) announced that the 2023 cohort of its Scale Up New Mexico program has effectively concluded the Venture Funding Sprint. Throughout this intensive experience, 15 startups from New Mexico engaged in mentorship, education, and networking within the program, according to a press release by NMSU.
The Scale Up New Mexico initiative, funded in part by the United States Economic Development Administration and operated by New Mexico State University's Arrowhead Center, hosted the Venture Funding Sprint. Participants connected with entrepreneurs, built valuable relationships with advisors, and cultivated ties with potential angel investors and venture capitalists in this dynamic environment. This environment significantly expedited their progress in the tech industry, according to a press release by NMSU.
“In New Mexico, the convergence of diverse investors, experts, and perspectives within accelerators is the key to unlocking the full potential of our entrepreneurial community,” said Dana Catron, deputy director of Arrowhead Center. “It’s the catalyst that fuels innovation and paves the way for successful capital raises ultimately driving our state’s economic growth and prosperity.”
In six weeks, startups received substantial guidance from a diverse array of mentors and industry experts who provided hands-on support by sharing their expertise and insights and assisting with various aspects of fundraising. The startups encompassed sectors such as climate energy space biotech health medical devices telecom agriculture beauty artificial intelligence according to a press release by NMSU.
“We are thrilled to see our participants now well-prepared and in a prime position to initiate meaningful conversations with potential investors increasing their odds for a successful fundraising journey,” said Carlos Murguia Scale Up NM program manager “Sharing fundraising best practices is crucial for empowering New Mexico's entrepreneurs”.
