NMSU to offer business development program for startup entrepreneurs in the Borderplex area

El Paso News

Photo courtesy of NMSU.

LAS CRUCES, New Mexico (KTSM) – The Arrowhead Center at New Mexico State University – the campus’ business development center – is set to offer a five-week virtual, cohort-based venture program for startup businesses and entrepreneurs in the Borderplex region. The cohort includes participants from Chihuahua, Mexico, Ciudad Juarez, Sonora, Mexico, and El Paso.

The Borderplex Sprint is a five-week virtual, cohort-based venture builder for innovators in the Borderplex region. By focusing on the early stages of product or service development before a business invests significant time, money and resources, Borderplex Sprint allows for customer discovery and product/service fit while providing structure, guidance and access to resources that can move the business forward. By participating in the Borderplex Sprint, startups will receive business coaching, access to industry, business, and technical experts, along with:

• Self-paced curriculum and lectures on customer discovery, market fit, product uniqueness, etc.
• Live weekly sessions featuring speakers driven by the needs of cohort participants.
• One-on-one weekly assistance with the Arrowhead team.
• Introductions to NMSU faculty members and access to facilities.
• Access to the Arrowhead Innovation Network, a network of experts available for mentoring.
• Up to $25,000 in Amazon Web Service credits and $120,000 in IBM Cloud credits for startups that qualify.

“The Borderplex Region holds a tremendous opportunity for binational collaboration, and launching successful startups is a key activity to promote economic development,” said Carlos Murguia, director of the Foster Innovation Exchange. “We are excited to offer this bilingual, binational virtual accelerator for technology startups in the region. It combines our proven sprint accelerator with our growing offer of soft-landing services for startups looking to explore the U.S. market.”

The five-week long program is funded through an unprecedented binational collaboration between Sonora’s Science and Technology State Council, Chihuahua’s Innovation and Competitiveness Institute, and Chihuahua’s Economic Development and Tourism Direction. It will be held in collaboration with Arrowhead’s Hunt Center for Entrepreneurship and the Foster Innovation Exchange.

Participants will be guided through the program to help them grow and refine their business strategies, NMSU officials said. The five-week accelerator program is taking place through Oct. 27.

“This accelerator will allow entrepreneurs from Chihuahua and Sonora to access an international network, resources, and guidance from Arrowhead Center’s advisers,” said David Andujo, entrepreneurship and innovation adviser for Chihuahua’s and Sonora’s government. “This is the first collaboration effort after signing MOUs with Arrowhead Center, and we look forward to launching more activities soon.”

Program graduates may also join Arrowhead Ventures, where they will benefit from continued business and technical advising, academic and industry connections, and access to additional Arrowhead programs.

For more information about the Borderplex Sprint, click here or you can contact Carlos Murguia at cmurguia@nmsu.edu.

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