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Arrowhead Center at NMSU to offer hybrid business accelerator for clean energy startups

  • By Stephanie Garcia
  • 575-646-4965
  • stephgar@nmsu.edu
  • May 04, 2021
People participating in Zoom meeting

New Mexico State University’s Arrowhead Center will be offering a hybrid accelerator – EnergySprint + Small Business Innovation Research (SBIR) – to New Mexico startups working on clean energy technologies.

The accelerator is funded through an Energy Program for Innovation Clusters (EPIC) award from the U.S. Department of Energy and will be held in collaboration with NMSU’s Innovation and Commercialization for a Regional Energy Workforce, or I-CREW project.

Arrowhead is seeking entrepreneurs and startups working in the clean energy space to apply to the free accelerator, which will take place May 28 through July 16. Application deadline is May 12.

EnergySprint + SBIR is an activity under a new Arrowhead initiative – the New Mexico Clean Energy Resilience and Growth (NM CERG) cluster – that will serve as a catalyst to grow a regional energy innovation ecosystem, providing access to programs and resources that will support and grow clean-energy tech businesses throughout New Mexico. NM CERG is funded through Arrowhead’s recent EPIC award.

“New Mexico is a burgeoning hub for clean energy technology development and deployment,” said Dana Catron, director of strategic operations at Arrowhead Center. “We are excited to offer this hybrid accelerator for cleantech startups in the region. It combines two of our proven accelerators and places a hyper-focus on the needs and challenges these startups require to commercialize their technologies.”

By participating in EnergySprint + SBIR, 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.
  • Accelerated course in how to identify, apply for, and win SBIR and Small Business Technology Transfer funding.
  • 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.

“Arrowhead Center's Energy Sprint was impactful, thought-provoking and caused us to challenge the fundamental assumptions of our business model, leading to new and interesting avenues to explore,” said Simon Woodruff, CEO of Compact Fusion Systems, Inc. “The material served up by experts in our New Mexican energy ecosystem was top notch, well researched, and useful to our planning. Strongly recommended for any burgeoning clean energy company in New Mexico.”

Program graduates also have the opportunity to join Arrowhead Ventures, where they will benefit from continued business and technical advising, academic and industry connections, and access to additional Arrowhead programs. Some participants may also qualify for Arrowhead Innovation Fund investment consideration.

“This accelerator will allow participants to focus on the early stages of technology development, allowing for customer discovery and product and service fit while providing access to prototyping services and feedback from investors,” said Carlos Murguia, director of the Foster Innovation Exchange at Arrowhead Center. “Industry experts will provide a unique perspective to guide the participants as they move towards the commercialization of their technologies.”

To qualify for EnergySprint + SBIR, the entrepreneur and business must be based in New Mexico, available to attend weekly two-hour sessions throughout the duration of the cohort and to meet individually with the Arrowhead team, and working on a clean energy technology.

For more information about EnergySprint + SBIR, contact Catron at dderego@nmsu.edu or apply at https://arrowheadcenter.nmsu.edu/program/nmcerg/.