Arrowhead Center receives innovation grant

New Mexico State University’s Arrowhead Center has been awarded a $ 1.2 million grant from the Economic Development Administration (EDA) of the U.S. Department of Commerce, NMSU said in a news release.

The grant is awarded annually as part of the EDA’s Build to Scale program. The 2022 program was comprised of two competitions: the Venture Challenge and the Capital Challenge. Arrowhead Center competed under the Venture Challenge, which focuses on accelerating technology innovation and entrepreneurship growth by increasing inclusive access to entrepreneurial support and start-up capital.

As one of 32 recipients of the Venture Challenge award, Arrowhead Center proposed Scale Up New Mexico, a new project that will expand on its proven early-stage entrepreneurial services and initiatives, and involve collaboration with Sandia National Laboratories and the New Mexico Start Up Factory, the news release said.

With the grant, Scale Up New Mexico will be a three-year long project aiming to serve the entire state, NMSU said. This project will provide accessible, customized support to New Mexico startups, focused on the specific needs of each sub-region identified by the New Mexico Economic Development Department.

“Arrowhead Center is always looking for ways to help change the entrepreneurial landscape in New Mexico and broadening access for underserved populations within the state,” said Stephanie Garcia, Scale Up New Mexico program manager. “Through our partnership with Sandia and the New Mexico Start Up Factory, Scale Up New Mexico will be able to offer New Mexicans working in tech innovation a robust system of outreach and assistance by leveraging the unique assets of our team.”