NM Ahead of the Curve for Startup Job Creation
October 13, 2015
ALBUQUERQUE - The United States Census Bureau has recently reported that New Mexico is among the top states for job creation from startup companies, putting the state ahead of the national average. The report set the national average for jobs created from startup companies at 2.0 percent. The same report stated that New Mexico is ahead of the national average at 2.5 percent of our job creation is a direct result from startup companies.
The City has multiple initiatives in place to make Albuquerque an entrepreneur friendly city to help strengthen the already strong 2.5 percent of startup job creation. Examples of the City's support of startups and entrepreneurs include:
- Epicenter @ Innovate ABQ: The first building open at the Innovate ABQ site intended to augment the community's existing incubators, collaborative work environments, events, and programs that assist entrepreneurs and small business.
- Innovate ABQ: Planned to be the premier Downtown one-stop-shop for researchers, inventors and entrepreneurs to readily access resources to develop their ideas. Innovate ABQ is a collaboration between the City of Albuquerque, UNM, Bernalillo County, Nusenda Credit Union and U.S. Economic Development Administration.
- ABQid: This 90 day accelerator funded by the City's EDAct Fund, helps identify entrepreneurs and validate the existence of a market for their ideas.
- 1 Million Cups: A weekly venue where two local entrepreneurs can present their startups to a diverse audience of mentors, advisors, and other individuals during a 60-minute gathering. Albuquerque's 1M Cups event is the fastest-growing and one of largest in the nation.
- Mayor's Prize for Entrepreneurship: Powered by the Albuquerque Community Foundation in partnership with Ewing Marion Kauffman Foundation, this prize awards $200,000 to a local nonprofit organization who can present bold ideas to support the creation and growth of new companies in Albuquerque.
“We believe that entrepreneurial activity is among the best barometers to measure the health of a city's economy,” said Mayor Richard J. Berry. “With more successful entrepreneurs, Albuquerque can anticipate job creation, the development of more innovative products, increased economic activity and economic mobility to grow the prosperity of our community.”
For more information about Albuquerque's burgeoning entrepreneurial ecosystem please visit abqic.com.