New Mexico’s startup economy is on fire.
Dozens of new, homegrown businesses are emerging in Albuquerque and other hot spots across the state. Existing startups are growing, many infused with fresh capital from local and out-of-state investors. And some companies are hitting the fast track with expansions that could, over time, turn them into powerhouses in key, high-tech industries.
The latest breakout is 3D Glass Solutions, which announced last week that it’s moving into a new, 16,000-square-foot facility in Albuquerque’s north I-25 industrial corridor to begin mass manufacturing of ceramic glass semiconductor chips for high-speed mobile communications and other next-generation products in the automotive, defense and aerospace industries. The company will invest $23 million in the new facility, growing its local workforce from 16 to 150 over the next five years.
That’s major success for a local startup that built its business from scratch over the past decade. But it’s one of many that are now emerging as homegrown success stories, such as point-of-sale software company Lavu Inc., data analytic firms Descartes Labs and RS21, cybersecurity firm RiskSense, and the optics sensor and telecommunication companies Skorpios and Trilumina, to a name a few.
Some of them also announced significant expansions this year, including Lavu and RS21, both of which are growing their workforces and upgrading their facilities in Downtown Albuquerque.