Corey Fiala, one of the two founding brains behind Albuquerque’s star startup, Lavu Inc., is at it again, this time with a new software-as-a-service company that automates all business operations for party rental firms. Fiala co-founded Lavu with Andy Lim in...read more
The City of Albuquerque is set to break ground in Fall 2016 on a nearly $40 million destination entertainment district. It will be located on City-owned property adjacent to Innovate ABQ, at the northeast corner of 1st Street and Central Avenue. The vision includes dining, a bowling alley, shopping and nightlife.
Starting or Moving Your Business
In this metropolitan area of nearly 1million people, business and city leaders remain as accessible as those in a one-light town and take a genuine interest in connecting entrepreneurs with the resources they need to succeed. Whether taking the first steps to launching a business in Albuquerque or figuring out how to move an existing one, here are some places to begin:
Starting a business in Albuquerque:
City of Albuquerque Economic Development Department
Moving or expanding your business, and locating office space or property:
Albuquerque Economic Development
Demographics and community data
State programs and resources
Albuquerque is an affordable alternative to established tech havens like Silicon Valley, Boston, San Francisco and New York. Real estate and labor prices are more affordable, allowing entrepreneurs to bootstrap more effectively while launching their companies. The average home price is $185,200 and home prices have appreciated by 9.1% over the past year.1 There also low cost living options for young college grad tech startup workers with a median rent price of $1,200.
You know your business or startup idea is one in a million, which is why you can’t risk being viewed as just another number in a crowd of entrepreneurs. Getting acknowledged and getting help from the right people, at the right time, is critical. Albuquerque makes it easy. Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande. The city is home to a number of attendant contracting companies, Sandia National Laboratories and Kirtland Air Force Base. It is home to University of New Mexico, National American University, Trinity Southwest University of which the strength of the universities turning out well-educated graduates with strong tech backgrounds, is contributing to the emerging growth of the local startup scene.
Entrepreneurship restores creativity to the soul of the global economy. Across all industries – high tech, defense, clean-tech, social impact, retail, and life sciences – startups are transforming people’s lives.
NM Small Business Assistance: The New Mexico Small Business Assistance (NMSBA) Program allows New Mexico small businesses facing a technical challenge to access the unique expertise and capabilities of Los Alamos and Sandia national laboratories. At no cost to the business, small businesses with a technical challenge can seek assistance from lab scientists or engineers for projects that require testing, design consultation and access to special equipment or facilities. http://www.nmsbaprogram.org
Albuquerque Stats at a Glance
Metro Population: 907,100
Major Industries: Technology, Defense
Gross Metro Product: $40.8 B
Median Household Income: $48,981
Median Home Price: $187,100
House Price Change: 9.1% appreciation last 12 months
Cost of Living: 2.7% below nat'l avg
Innovation is breaking ground in Albuquerque
Albuquerque’s own FatPipe ABQ has been named as one of the country’s best coworking spaces by technology magazine Inc. The list, published Thursday, includes coworking hubs from New York City, Miami and beyond. Of the 23 listed places, FatPipe came...read more
Whether it’s made on an elevator or on the ground floor, the 30- to 60-second business pitch that’s named for the place it’s often made should sound unrehearsed and authentic even if it’s the product of exhaustive thought and preparation — which it should be. The...read more
Mentors define the “give before you get” mentality that is not only necessary to a strong startup community but is also vital for a city to have a prosperous business environment generally. Albuquerque’s leaders for the last several years have been perpetuating the...read more
If you don’t have a tech company, you may want to start one just to have a chance of locating at the Sandia Science & Technology Park. The 300-acre master-planned development is anything but an industrial square; it’s a professional and intellectual...read more
A 9 ½ -minute locally produced video recently convinced a high-tech company to move to Albuquerque from Gainesville, Fla. ComScire, which has manufactured and sold quantum random number generators worldwide for 23 years, relocated all of its employees and...read more
The ABQid business accelerator’s next cohort of health and wellness startups will have some state-of-the-art, high-tech resources at hand to speed the path to market through a new partnership with Central New Mexico Community College. CNM Ingenuity, which...read more
Many cash-strapped New Mexico startups may soon get a critical boost from a state-backed investment program that’s pumping an initial $4.65 million into three local venture funds. Gov. Susana Martinez announced Tuesday that the state’s new $20 million “Catalyst Fund”...read more
Three New Mexico startups are working hand-in-hand with various national labs to create a cleaner future. Pajarito Powder, iBeam Materials and UbiQD are each participating in the Department of Energy’s Small Business Vouchers pilot program, which provides...read more