ALBUQUERQUE, N.M. — The Albuquerque Hispano Chamber of Commerce, in collaboration with Wells Fargo, the U.S. Hispanic Chamber of Commerce and the Latin American Chamber of Commerce has announced a new business accelerator program for Hispanic-owned businesses.
The program, called Avanzar, will begin in March with a cohort of representatives from 10 businesses selected by the Albuquerque Hispano Chamber. The representatives will participate in a yearlong educational series aimed at helping them overcome barriers to success, scaling their businesses and building sustainable enterprises.
Simultaneously, an additional 10 businesses selected by the Latin American Chamber will participate in a similar program in Charlotte, N.C.
Ernie C’deBaca, the Albuquerque chamber’s president and CEO, said it is aligned with the chamber’s mission.
“We’re all about New Mexico small businesses, giving them the tools necessary to succeed and scale,” said C’deBaca in an interview with the Journal. “That’s our DNA.”
To participate in Avanzar in Albuquerque, the Hispanic business must make between $100,000 and $250,000 in revenue, have a track record of at least three years of operations, be an organization that is long-term scalable into an enterprise and be in good membership standing with the Hispano chamber.
In a news release, Ramiro Cavazos, president and CEO of the U.S. Hispanic chamber, estimated that “if Hispanic-owned businesses scaled as quickly as non-minority-owned businesses, there would be an additional $1.47 trillion dollars in the American economy.”
Regina Heyward, senior vice president and head of supplier diversity for Wells Fargo, said in a statement that Wells Fargo is “committed to increasing . . . (spending) with diverse suppliers through building capacity in diverse businesses across the country.”
Interested parties can apply for Avanzar in Albuquerque by visiting https://ushcc.com/ahcc-avanzar-program-application/.