Rob Black, Cabinet Secretary-Designate | New Mexico Economic Development Department
The New Mexico Economic Development Department has selected Roadrunner Venture Studios to lead a $25 million initiative aimed at establishing and operating a quantum venture studio in the state. The move is part of an effort to position New Mexico as a center for quantum technology development and industry growth.
Roadrunner Venture Studios was chosen after a competitive evaluation process that began earlier this year. The company's proposal was noted for its strong partnerships with industry, financial backing, and integration with New Mexico’s expanding quantum sector. As part of the project, three quantum companies will relocate to New Mexico, bringing new jobs and supporting the sector's expansion.
Roadrunner’s collaborative network includes partners such as Elevate Quantum, Sandia National Laboratories, Los Alamos National Laboratory, startups like QuEra, Maybell, Qunnect, Resonance, the University of New Mexico, and venture capital firms including DCVC, Playground Global, and Quantonation.
“New Mexico is making an exciting and bold investment in the future, while bringing high-paying jobs, new businesses, and the world’s best talent to our state,” said Rob Black, EDD Cabinet Secretary. “New Mexico’s quantum venture studio brings together the essential elements needed to grow an advanced computing ecosystem that will advance science and innovation for a generation.”
Funding for the project comes from a $25 million appropriation approved during the 2025 legislative session. This investment reflects ongoing efforts by state officials to make New Mexico a leader in quantum technology innovation by fostering technological advancement and economic opportunity.
“Quantum technology will reshape the future, and New Mexico is ready to lead that transformation,” said Nora Sackett, Director of the Technology and Innovation Office at EDD. “By creating an environment where the top scientific minds have the tools and collaboration they need, New Mexico is backing the bold quantum startups and partnerships that will fuel breakthroughs.”
The planned campus for the venture studio will be located in Downtown Albuquerque’s Innovation District. Facilities will include a multi-node quantum network, dilution refrigerators for research purposes, testbeds for experimentation with quantum technologies, packaging facilities linked with Elevate Quantum Tech Hub initiatives (https://www.elevatequantum.com/), demonstration spaces for new developments in quantum computing (https://www.quantamagazine.org/what-is-quantum-computing-20210928/), as well as rapid prototyping centers. The site will also serve as headquarters for the Quantum New Mexico Institute.
Roadrunner intends to create a dedicated branch within its model focused on identifying talent and building scalable companies within this emerging field. A new capital network targeting startups based in New Mexico is also planned.
“New Mexico has long lived in the public imagination. It’s a place that has led America in the most important times with the most critical innovations — a fulcrum for national endeavor,” said Adam Hammer, Co-Founder and CEO of Roadrunner Venture Studios. “In this pivotal moment of technological change, we are stepping forward to help lead the coming quantum revolution. To win in something as high stakes as quantum, we need to find exceptional people, forge breakthrough companies, and fuel the second wave of great American quantum companies for global scale.”
Shared-use facilities at the campus aim to accelerate commercialization by providing resources directly accessible by participating startups.
“Quantum technology represents a once-in-a-generation chance to bring a touch of the Jetsons age into our time,” said Zach Yerushalmi, CEO of Elevate Quantum. “While New Mexico has pioneered world-class research for decades, this venture-studio and infrastructure strategy positions the state to unlock broad economic opportunity for all New Mexicans. Elevate Quantum is excited to partner with Roadrunner and a broad coalition of stakeholders from the national labs, industry,and academic communities to realize what many are coming to call ‘the quantum state.’”
Support from entities such as State Investment Council aims at converting public funds into local business growth opportunities.
