Albuquerque’s entrepreneurial spirit is thriving, thanks to a variety of resources and programs designed to support small businesses and startups. Whether you’re launching a new venture or looking to expand, the city offers numerous opportunities to help you succeed.
WESST: Comprehensive Support for Entrepreneurs
WESST provides a holistic approach to business development, offering training workshops, personalized consulting, accessible lending options, and a robust incubation program. Their services are tailored to help small business owners gain the skills, resources, and networks needed to build and grow sustainable businesses. The WESST Enterprise Center, a 37,000-square-foot facility near downtown Albuquerque, serves as a hub for entrepreneurship, offering state-of-the-art amenities and business assistance programs for up to 20 light manufacturing, service, professional, and technology businesses.
Silver Entrepreneurship Initiative (SEI): Supporting 50+ Entrepreneurs
For residents aged 50 and above, the Silver Entrepreneurship Initiative (SEI) at Central New Mexico Community College (CNM) offers mentoring, support, and guidance on available resources. SEI provides introductory webinars, one-on-one education, and orientation to other resources in the metropolitan area, all at no cost. This initiative is particularly beneficial for those considering entrepreneurial projects after traditional careers.
Emprendedores Program: Empowering Hispanic and Immigrant Entrepreneurs
The Albuquerque Hispano Chamber of Commerce’s Emprendedores Program is a dynamic initiative designed to empower and support aspiring Hispanic and immigrant entrepreneurs. The program offers specialized workshops, mentorship opportunities, networking events, and access to a resource hub. Sessions are conducted in Spanish, catering to bilingual and Spanish-speaking entrepreneurs who have been in business for less than a year.
ASCEND 2.0: Accelerating Biomedical Innovations
ASCEND 2.0, through the NIH-funded I-RED West Program, equips university-based biomedical researchers and students with entrepreneurial skills to fast-track innovations from lab to market. The program offers experience-based educational modules, products, and tools to help innovators gain vital business knowledge and successfully commercialize healthcare technologies.
City of Albuquerque’s Grant Programs
The Metropolitan Redevelopment Agency (MRA) offers various grant programs to support small businesses and property owners in designated Metropolitan Redevelopment Areas. These grants aim to boost the local economy, encourage business innovation, improve storefronts and signage, and support public safety and community connection. Additionally, the city’s Economic Development Department has launched the Campaign for Growth, an initiative to create 1,000 new jobs by 2028 through local business support and workforce development.
By leveraging these resources, Albuquerque’s entrepreneurs can access the support and guidance necessary to navigate the challenges of starting and growing a business, contributing to the city’s vibrant and diverse economic landscape.