SMALL BUSINESS
New Mexico awards over $375,000 in grants to business incubators
Money will go toward certification efforts, feasibility studies
Five New Mexico business incubators will receive a share of more than $375,000 in state funding to support entrepreneurship programs and pursue certification through the state鈥檚 Certified Business Incubator Program, state officials said this month.
The grants will fund certification efforts and feasibility studies designed to strengthen incubators that provide training, mentorship and other resources to early-stage businesses across the state.
Business incubators help entrepreneurs and early-stage startups access resources, including mentorship, access to equipment and networking opportunities.
鈥淭hese investments reflect our commitment to building a strong, inclusive economic development ecosystem across New Mexico,鈥� Economic Development Secretary Rob Black said in a statement.
Three incubators earned certification support grants to lower entrepreneurship barriers.
The nonprofit Three Sisters Kitchen received the largest award of $130,000.
Celebrating its ninth year in August, a milestone Executive Director Anzia Bennett attributes to the organization鈥檚 openness to learning, Three Sisters Kitchen runs a manufactured food business incubator as one of its flagship programs. The program, which spans several months, helps food entrepreneurs explore and experiment with food business concepts in manufacturing.
鈥淲e are so thrilled to receive this support,鈥� Bennett said. 鈥淚t鈥檚 going to go such a long way in ensuring that our program is an effective and impactful incubator for aspiring manufactured food entrepreneurs 鈥� really being able to take time to dive into understanding the needs and gaps that entrepreneurs have and are facing and how we can best provide relevant services.鈥�
The remaining certification support funds went to Los Alamos Makers at $125,000 and New Mexico Community Capital, which received $76,000.
Los Alamos Makers is an innovation hub that lowers barriers to entrepreneurship by giving members the resources they need to build businesses and technology. New Mexico Community Capital, based in Albuquerque, empowers Indigenous entrepreneurs through technical assistance and support for existing Native-led businesses.
Two additional business incubators received feasibility study support.
Taos Community Foundation was awarded $30,000 for Taos-HIVE, which partners with the University of New Mexico-Taos and Kit Carson Electric Cooperative to align its programs with certification standards.
The HIVE, which stands for the Hub of Internet-Based Vocation and Education, opened in 2021 and serves roughly 2,000 community members, including entrepreneurs. It also runs an incubator program called the HIVE Pollinator, which serves roughly 35 entrepreneurs annually.
The program鈥檚 feasibility study will be conducted by an outside firm to assess local market demand and the organization鈥檚 ability to manage a certified incubator program.
UNM-Taos HIVE Executive Director Rose Reza emphasized the grant鈥檚 importance, saying the organization is 鈥渧ery fortunate鈥� to have received it.
鈥淕etting the feasibility study will help HIVE plan thoughtfully and strategically, and really give us the groundwork for a very strong road map for future growth,鈥� Reza said.
The incubator at the Albuquerque Hispano Chamber of Commerce Foundation, which supports the organization鈥檚 mission to promote workforce development to small businesses, received $25,000.
Keelin Fisher is a business reporter for the Journal. You can reach her at kfisher@abqjournal.com.
