Heinrich, Luján Welcome $1.8 Million In Federal Funding To Support Technology Entrepreneurs At NMSU, UNM-Taos

U.S. SENATE News:

WASHINGTON, D.C. — U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.) are welcoming two federal grants totaling $1,886,809 to New Mexico State University (NMSU) and the University of New Mexico-Taos (UNM-Taos) to support technology entrepreneurs.

“I’m pleased to welcome these federal investments for NMSU and UNM-Taos to promote innovation and provide startups and small businesses the tools they need to be successful,” Heinrich said. “These programs help engage historically underrepresented members of the tech community, support New Mexico’s entrepreneurs, and drive regional innovation forward.”

“In a rapidly evolving technological world, it is critical to prepare the next generation of technology entrepreneurs to keep up with the latest innovations,” Luján said. “I’m proud to welcome this investment to NMSU and UNM-Taos for commercial and tech startup programs. Students will be provided the resources to develop their skills and education in entrepreneurship, fostering the pipeline for a diverse workforce in tech.”

These grants were awarded as part of the U.S. Department of Commerce Economic Development Administration’s (EDA) 2022 Build to Scale Venture Challenge, which funds programs that support high-growth technology entrepreneurship while fostering inclusive access to support models.

The EDA has awarded a grant of $1,185,865 to NMSU’s Arrowhead Center, which provides guidance and resources to entrepreneurs and small businesses in New Mexico. It will fund the Scale Up New Mexico project, an Arrowhead program that addresses challenges startups face with commercialization.

With this grant, the Arrowhead Center will:

• support technology-based New Mexico startups with commercial potential;
• provide technology commercialization support;
• support intellectual property and technology transfer—which helps move research from New Mexico universities and labs to the private sector—and provide investment support;
• bolster access for women entrepreneurs in the region; and
• host and manage a pitch competition.

The EDA has awarded a grant of $700,944 to the University of New Mexico-Taos Hub of Internet-Based Vocation and Education (UNM-Taos HIVE), which supports scalable tech startups in northern New Mexico through narrative building, innovative mentorship programming, and tech entrepreneur incubation and acceleration.

With this grant, HIVE will:

• create Taos-targeted content to inspire and foster tech entrepreneurship;
• support a tech ecosystem knowledge sharing and mentorship program; and
• manage the HIVE Pollinator hybrid tech incubator/accelerator program.

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