The Scale Up New Mexico program, funded in part by the United States Economic Development Administration and housed at New Mexico State University’s Arrowhead Center, will offer the VentureFunding Sprint online accelerator to tech startups in New Mexico.
VentureFunding is one of several modules under Scale Up NM, a suite of startup support programs for businesses engaged in early-stage technology development. The program scales existing Arrowhead Center initiatives such as Sprint business accelerators, Small Business Innovation Research/Small Business Technology Transfer assistance and commercialization support.
VentureFunding is seeking entrepreneurs and startups located in New Mexico to apply to the free accelerator, which will take place Oct. 5 through Nov. 9. The application deadline is Sept. 25, and selected participants will be notified by Sept. 29.
“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.”
VentureFunding is designed to empower New Mexico’s tech startup founders with the knowledge and skills required to successfully raise capital. Over the course of six weeks, participants meet once a week to work on various aspects of fundraising, including understanding the terminology and instruments involved, negotiating with potential investors, and developing tools and deliverables needed to attract investment.
Additionally, each participant will have access to weekly one-on-one meetings with an Arrowhead team member or mentor who provides customized assistance and addresses individual questions and concerns.
“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.
Featured advisers and mentors include accomplished entrepreneurs, business law attorneys, experienced operators, and active angel and venture investors.
To qualify for VentureFunding, startups must be based in New Mexico or have plans to move to New Mexico. Participants should also be available to attend a weekly two-hour virtual session for the duration of the cohort and to work on technology-based innovation. Participating in VentureFunding Sprint will pre-qualify startups interested in the 2023 Scale Up Pitch Competition to be held Oct. 26.
For more information, contact Murguia at cmurguia@nmsu.edu or apply at https://arrowheadcenter.nmsu.edu/program/scale-up-new-mexico/venturefunding-sprint/index.html
