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CNM Business Incubator Launches at Montoya Campus

By Collin Krabbe, Albuquerque Business First

Central New Mexico Community College

November 8, 2019 – Business-minded students at Central New Mexico Community College will soon have a new resource for growing their own companies.

The CNM Business Incubator Program is set to launch Thursday with the opening of a new incubator on the university’s Montoya Campus in the Northeast Heights. It will be located in the Tom Wiley building, 4700 Morris St. NE, and offer shared co-working space as well as office facilities for individual companies with one to seven employees.

The incubator sits next to the college’s Small Business Development Center and officials are hoping to create an entrepreneurial hub in the area. Usage fees will be based on the phase of growth a company is in, meaning developing firms could potentially pay less in rent than their more mature counterparts, according to SBDC Director Tim Harjo.

“The idea is to not allow the burden of overhead … to be a barrier,” Harjo said.

Co-working space ranges in price from $40 to $160 per month and office facilities cost between $315 and $1,260 per month for up to two years. The incubator will open Nov. 7, and utilities and Wi-Fi are provided.

Companies must apply to be considered for the program, and it has received about 20 applicants so far. About five of those have been offered space in the incubator, according to Harjo.

Users of the incubator program will have access to support and mentorship services at the Small Business Development Center and the International Business Accelerator, as well as degree and certificate programs and business classes, according to CNM’s website.

The college’s effort to create a center for entrepreneurship follows in the footsteps of the University of New Mexico’s Lobo Rainforest Building, a $35 million mixed-use facility that is part of the seven-acre Innovate ABQ research and innovation district planned for Downtown. New Mexico State University has undergone similar efforts with its Arrowhead Center and Aggie Innovation Space.

SEE THE ORIGINAL ARTICLE AT ALBUQUERQUE BUSINESS FIRST

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