Students at the University of New Mexico and five other higher education institutions around New Mexico can now access a vast network of business advising expertise, a customized entrepreneurship curriculum and new funding opportunities through Studio G, the successful student business accelerator at New Mexico State University’s Arrowhead Center. Since 2013, Studio G has supported more than 700 student and alumni entrepreneurs and in 2017, Studio G ventures hired more than 180 people.
Thanks to a generous grant from the Daniels Fund, Arrowhead Center has expanded Studio G to six new campuses outside the New Mexico State University system in an unprecedented collaboration designed to greatly expand the pipeline of entrepreneurship education and economic development in the state.
Studio G sites opened this semester at UNM’s Anderson School of Business in Albuquerque, Western New Mexico University in Silver City, Eastern New Mexico University in Roswell, New Mexico Tech in Socorro, San Juan College in Farmington, and Santa Fe Community College.
“This collaboration is very exciting, because it brings together all these colleges and universities to support student entrepreneurs,” said Studio G Director Kramer Winingham. “We are stronger together and we look forward to inspiring and supporting a new generation of entrepreneurs to drive economic development and increase opportunity in New Mexico.
“Our model allows each campus to find the best way to help their students start businesses while capitalizing on
the best practices and resources of all the sites offering Studio G”
The $350,000 grant award was received by Arrowhead Center in 2017 from the Colorado-based Daniels Fund in support of entrepreneurship education in New Mexico. Arrowhead Center is using that funding to support personnel and operational costs to launch the program at each site. Institutions across the state applied for the competitive opportunity to host a Studio G site at their campus. At each site, a campus champion will spearhead the student outreach, promotion and community engagement that is necessary to build momentum for the program.
Alberto Solis, Studio G champion and interim director of the UNM Business Plan Competition Program in the Anderson School of Management Dean’s Office, said the collaboration is already opening doors and facilitating new partnerships that will help foster student business growth and community involvement. He said Studio G offers a new way for students with business ideas to engage with experts who can help them move their ventures from idea to market in a strategic way.
“Our program’s purpose is to prepare students and alumni to become entrepreneurs and generate economic development in New Mexico,” Solis said. “Our focus on collaborating, not only with startup programs at UNM and in Albuquerque, but with Studio G accelerator, enables us to further facilitate statewide entrepreneurial expertise and resources that will help students in our program become business owners in our state.”
Judy Castleberry, the Studio G champion and director of the Enterprise Center at San Juan College, said establishing Studio G at the Enterprise Center in Farmington gives students the best of both worlds: local support and space to develop their business combined with Arrowhead Center’s wealth of resources.
Studio G clients receive guidance from business advising staff; access to Arrowhead’s Enterprise Advisors, including seasoned entrepreneurs, venture capitalists, investment bankers, marketing experts, engineers, intellectual property lawyers, accountants, graphic designers and product developers; access to equipment and technology, such as 3-D printing and scanning, video conferencing and software; funding opportunities and awards exclusive to Studio G members; and opportunities to license technology from NMSU. Beyond business acceleration, Studio G clients gain entrepreneurial training that builds foundational skills in problem solving, communication, leadership and teamwork.
“As New Mexico’s land-grant institution, NMSU has a mission to serve every resident of our state, and Arrowhead Center has a key role in that mission, driving economic development and cultivating a risk-taking culture of entrepreneurship,” said Arrowhead Center Director Kathryn Hansen. “These collaborations enrich the entire innovation ecosystem in our state and make opportunities more accessible to New Mexico’s diverse student population. We’re excited about what the future holds as we help these institutions build sustainable student entrepreneurship programs and industry partnerships.”
This latest expansion of Studio G is modeled after the Next Generation Entrepreneurship program, which launched Studio G at each of the NMSU system’s community college campuses in Alamogordo, Carlsbad and Grants, as well as Dona Ana Community College in Las Cruces, thanks to a grant received in 2016 from the U.S. Economic Development Administration. More than 80 new ventures from NMSU community college sites have already become Studio G clients through the Next Gen program.
Studio G is also available to students at Navajo Technical University, with support from the Kellogg Foundation.
To learn more about each of Studio G’s new sites across New Mexico, contact the corresponding campus champion:
Studio G at University of New Mexico Anderson School of Management
Alberto Solis: firstname.lastname@example.org
Source: News Centre NMSU