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- Innovation and Entrepreneurship in ABQ: Community Resources & Assistance
Small Business Information
Tapping into entrepreneurial ABQ
Tapping into entrepreneurial ABQ
Small businesses build community by fostering innovation, generating opportunity and contributing to employment and economic growth. Whether as service providers, designers, manufacturers or merchants, small business people play a crucial role in meeting the needs of the marketplace.
Central to this dynamic is the entrepreneur – “someone who”, as noted in the Harvard Business Review, “sees an opportunity to create value and is willing to take a risk to capitalize on that opportunity”.
Innovate ABQ
Albuquerque Economic Development Department
The City of Albuquerque's Economic Development Department (EDD) works to create, diversify, and enhance job growth and to promote business development and stability.
EDD supports business and the development community within city government and between city agencies. Areas of focus include:
- Business Incentives - New Mexico offers a broad range of business incentives to encourage relocation of new businesses and expansion of existing businesses. They range from industrial revenue bonds and funding sources to training programs and tax credits.
- Film Incentives - Albuquerque and New Mexico offer many resources and incentives for the film industry.
- Recruitment, Retention, and Expansion - The Economic Development Department works with Albuquerque Economic Development Inc. to recruit business and industry to Albuquerque.
- Workforce Training - Employers are assured of quality education and training opportunities in Albuquerque.
- Want your business to do more, gain more, and earn more? Learn how Albuquerque Economic Development can help.
City of Albuquerque Small Business Office
The Small Business Office (SBO) is a divison of the City of Albuquerque’s Economic Development Department. It is the central point of entry for Albuquerque entrepreneurs and businesses providing timely, relevant, actionable information and assistance.
- One-On-One Assistance - SBO provides one-on-one assistance and will connect you to the help you need for challenges your business may be facing.
- Technical Assistance Training - Marketing and Branding, Improving Customer Service, Integrating Technology Into Business - SBO offers workshops tailored to meet the needs of small businesses.
- Connection to Resources + Ecosystem Support - There are many resources across Albuquerque aimed to support small businesses. SBO can assist in connecting you to the right service provider.
- Assistance Navigating City Services - Navigating City processes can be difficult. Our expert staff will guide you through the process.
- City Contract Application Assitance - Interested in contracting with the City? The SBO will make small businesses aware of opportunities to do business with the City.
Bernalillo County Economic Development Department
Bernalillo County Economic Development works to protect taxpayers and foster business start-up, expansion and retention in the unincorporated areas of the county. Simultaneously, the department partners with Albuquerque Economic Development and the City of Albuquerque to support out-of-state recruitment efforts and generate jobs. For companies requesting financial incentives they will diligently review through multiple evaluations the eligibility and business success feasibility of any prospective project asking to be considered for financial incentives.
Two local entrepreneurs present their startups to a diverse audience of mentors, advisors and other individuals during 60-minute gatherings. One of 50 cities in the country with this program, Albuquerque holds is 1 MC events from 9-10 a.m. Wednesdays at the FatPipe tech incubator, 200 Broadway NE (near the Innovate ABQ site). Albuquerque’s 1 MC event is the fastest growing and one of the largest in the nation.
An accelerator that helps identify entrepreneurs and validate the existence of a market for their ideas, this New Mexico nonprofit develops, implements and promotes a series of support activities to grow Albuquerque’s entrepreneurial systems and businesses. Entrepreneurs can apply for a 90-day program with proven success in company development.
Weekly Office Hours are fun, facilitated weekly gatherings for entrepreneurs to get help on their pressing business ideas and questions. Go to the WESST Enterprise Center, 609 Broadway Blvd NE, from 3-5 p.m. Wednesdays if you:
- Want to give or receive honest advice from seasoned entrepreneurs about business ideas
- Need to learn about funding options, especially the ins and outs of venture capital
- Have business issues or questions around software, legal, accounting, marketing, business models, etc.
- Desire deeper connectivity and relationships with other entrepreneurs in an energized, open environment
- Want to learn more about what ABQid has to offer including our nonprofit programs and our for-profit seed investment fund.
Albuquerque Economic Development (AED)
AED is a private, nonprofit organization whose mission is to recruit new employers and industry and help local companies grow to generate quality job opportunities for the Albuquerque metro area. AED serves as an umbrella organization to promote investment in Bernalillo, Sandoval, Torrance and Valencia counties. With support from investors and allies in the public sector, AED actively recruits those companies that will export goods or services from New Mexico.
Operated by Central New Mexico Community College and located Downtown at 20 First Plaza Center NW, the center provides accelerated educational opportunities and entrepreneurial support that benefits the regions economy. These include a 9-week Deep Dive Coding Bootcamp (40+ hours per week).
Center for Nonprofit Excellence
The Center for Nonprofit Excellence strengthens the capabilities and capacity of New Mexico nonprofits so they can more effectively meet their missions.CNPENM is a provider of resources and services to nonprofits that want to:
- Have positive impact on the communities they serve
- Strengthen their board engagement and governance
- Improve their financial sustainability
- Understand and proactively monitor their financial status
- Enhance their internal management and operations
- Develop performance indicators and metrics to better evaluate and measure impact
Creative Startups is the nonprofit accelerator for the creative economy - bringing startup businesses, mentors and investors from New Mexico and around the world to its annual Deep-Dive in Downtown Albuquerque in partnership with the Hyatt Regency.
The Epicenter, at 101 Broadway NE, is the launching point for business ideas and risk takers. It is also the first building to open at the Innovate ABQ site. The space is intended to augment the community's existing incubators, collaborative work environments, event and programs that assist entrepreneurs and small businesses. The Epicenter will provide office, meeting and activity space to encourage collaboration and to democratize entrepreneurism. It is made possible through an interim use lease between the City of Albuquerque and UNM.
Innovation Central’s Geographic Heart! Innovate ABQ is being developed as a premier Downtown innovation site for researchers, inventors and entrepreneurs. This new entrepreneurial hub will sit on seven acres and be anchored by a core research and incubation site at Central and Broadway. Innovate ABQ is a collaboration among UNM, STC UNM, the City of Albuquerque, Bernalillo County, Nusenda Credit Union, the local business community – plus other public and private partners.
As Albuquerque's hub of innovation - this district (an area that extends in roughly a one-mile radius in all directions from the intersection of Broadway and Central) is anchored by Innovate ABQ. At the core of both is the goal of empowering people to create opportunities for success. Fueled by the Albuquerque community, anyone with a business start-up or entrepreneurial idea can be a part of this initiative.
Start building your business at this incubator and co-working space for entrepreneurs and investors. Located in Albuquerque at 200 Broadway NE -- and now in Rio Rancho at 333 Rio Rancho Blvd NE Suite LL-100 -- FatPipe provides core start-up resources needed for success.
Grow It! is an economic development initiative created by the New Mexico Municipal League in partnership with Finance New Mexico. The project’s goal is to stimulate private sector job development in New Mexico by putting information about business resources directly into the hands of entrepreneurs. The Grow It! project aims to draw business owners and entrepreneurs into the system of free and low-cost services that can help businesses grow.
New Mexico Economic Development Toolbox
This toolbox is a broad summary of resources for financing and assistance programs to help start-up or expanding business, and to help improve the economic quality of life in communities.
New Mexico Small Business Assistance (NMSBA)
The New Mexico Small Business Assistance (NMSBA) Program provides New Mexico small businesses facing technical challenges access to the unique expertise and capabilities of Los Alamos and Sandia national laboratories. At no cost to the business, small businesses with a technical challenge can seek assistance from lab scientists or engineers for projects that require testing, design consultation and access to special equipment or facilities that are not available in the private sector.
As a nonprofit volunteer resource partner of the U.S. Small Business Administration, SCORE Albuquerque services include: free confidential professional business consultations workshops, and Business Owners Councils. If you're just starting a business, SCORE mentors can provide the practical action plan, education and tools needed to open your doors and establish a customer base. Already own a business? Our volunteer mentors can help identify ways to increase profit, improve employee and customer satisfaction, and achieve work/ life balance.
South Valley Economic Development Center
The South Valley Economic Development Center is the economic development division of Rio Grande Community Development Corporation and a community hub for new and emerging businesses with a dedication to fostering economic revitalization in New Mexico focused on the South Valley of Albuquerque. Since 1986, the Rio Grande Community Development Corporation has been working with it's neighbors, colleagues, partners and friends in the South Valley to affect change. The RGCDC's mission is to pursue community-wide healthy economic and social development that enriches traditional cultural values and historical uses of the land while supporting the peoples’ voice in development and reducing poverty through entrepreneurial enterprise. This work is done through supporting social entrepreneurs, in developing strong, sustainable, and transformative solutions to New Mexico's most pressing issues.
The first floor of the Lobo Rainforest Building at Innovate ABQ is home to STC.UNM, the Cecchi Venture Lab, the UNM Innovation Academy, UNM’s entrepreneurial program, and the Air Force Research Lab tech engagement office and Sandia National Labs tech engagement office. Everything is co-located on the ground floor, with available meeting room spaces, so you have more opportunities to meet and work with other inventors, mentors, business advisors, and experienced entrepreneurs from programs such as Innovate New Mexico. Other incubators with more programs and events are within walking distance of the Lobo Rainforest Building, including Fat Pipe ABQ, ABQid, the Verge Fund, and CNM STEMulus Center’s IGNITE and FUSE makerspace.
UNM Small Business Institute (SBI)
The UNM Small Business Institute (SBI) at Anderson provides consulting work for local start-ups, expanding businesses, nonprofit organizations and family enterprises. Every semester, 25-30 student teams comprised of 3-5 students, guided by a UNM Anderson faculty member, assist clients in preparing strategic business plans, financial analyses and marketing research studies. These mutually beneficial partnerships offer students an experiential learning opportunity while providing businesses with management assistance at an affordable rate.
U.S. Small Business Administration - New Mexico District Office
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government. The SBA helps Americans start, build and grow businesses. The New Mexico SBA office is responsible for the delivery of SBA's many services and programs to the 33 counties of New Mexico. Over the years, the SBA has developed many small business loan and assistance programs, special outreach efforts and initiatives to aid and inform small businesses. The following describes briefly all the services and information available through this office:
- Service-Disabled and Veteran-Owned small business assistance is available through a variety of resource partners
- Free counseling, advice and information on starting a business through the Service Corps of Retired Executives
- Financial assistance for new or existing businesses working with area banks.
- Free consulting services through the network of Small Business Development Centers
- And more
The Verge Building is a hub for technology startups and entrepreneurs. It serves as headquarters for venture capital group Verge Fund, ABQid and numerous startup tech companies. It also provides creative, dynamic work environments for early-stage, high-tech entrepreneurs.
WESST Albuquerque is a small business development organization that provides critical business training, consulting, incubation and capital to start-ups and existing businesses. Its LEED-certified Downtown headquarters includes a best practice business incubation program and a state-of-the-art digital media studio.
