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Central New Mexico Community College

Growing the ABQid Seed Fund
Albuquerque, NM
Seed Fund Support
Federal Share: $295,375.00
Local Match: $298,183.00

Central New Mexico Community College will enhance and expand the ABQid Seed Fund, a seed fund for entrepreneurs and innovative startups focused on technology in health, defense, and biotech industries in central New Mexico. The recent merger of two non-profit organizations under the umbrella of Central New Mexico Community College (CNM), ABQid and CNM Ingenuity, has created an opportunity to expand the ABQid Seed Fund. Promising start-ups in New Mexico often spend two to three years conducting early-stage fundraising when it should take six months. By merging with CNM Ingenuity the project will increase the aperture of investments to more New Mexico startups. Funds from the EDA will be used to attract 20 new participants to the ABQid Seed Fund, raise at least $2 million in new capital, and expand the reach of startup investments beyond central New Mexico.

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