Six student startups won big at the 13th annual University of New MexicoBusiness Plan Competition on April 20, taking home nearly $100,000 in prizes.
The UNM Business Plan Competition consists of a seven-month entrepreneurship boot camp designed to educate and help students launch their own business venture. The competition was created by UNM’s Anderson School of Management and the late Professor Sul Kassicieh, whose goal was to generate economic development and improve quality of life in New Mexico with student startup ventures, according to a release.
Six out of 17 competing teams were announced winners at the awards banquet and granted cash prizes totaling $97,500. Teams were made up of students from Central New Mexico Community College, New Mexico State University and the University of New Mexico.
Winners were divided into two categories: entrepreneurial ventures and technology ventures. See the winners in the accompanying slideshow.
“We are committed to furthering the rigorous planning discipline of all 17 startup teams that competed for startup funding, starting with teams that won cash prizes,” said Alberto Solis, interim director for the Anderson School of Management, in a statement.
Albuquerque and New Mexico have been pushing hard to grow their technology and startup scene, establishing a $1 million marketing campaign for the city. The most notable move made to establish the Duke City as an entrepreneurial hub is the massive Innovate ABQ project, using seven acres near Downtown with an estimated total price tag as high as $150 million. Innovate ABQ is a public-private partnership among UNM, the city of Albuquerque, Central New Mexico Community College, Bernalillo County and Nusenda Credit Union.
Four New Mexico startups recently were invited to attend the 2018 StartEngine ICO Summit in Santa Monica, California, a conference aimed to allow private companies to network with top investors, advisers and founders.