Supporting New Mexico start-ups is key to long-term prosperity - Albuquerque Journal

Supporting New Mexico start-ups is key to long-term prosperity

Matthew Ennis

I’m in the rare position of being both an angel investor and a recipient of angel investor funding from New Mexico Angels and their networks.

I’ve been on the ground floor with many New Mexico start-ups including NTx, Lumidigm, GNI and Build with Robots. So I truly can see the importance of our community ecosystem when it comes to supporting and growing New Mexico’s innovation economy.

Why do I feel it’s imperative to support the start-up community with funding? In a nutshell — it’s the way we build our economic ecosystem to create more jobs and diversity of jobs for our families and future generations of New Mexicans. It’s not a secret that New Mexico has been reliant on federal funding, and investing and supporting successful start-ups is one of the most promising paths to diversify and strengthen our economy. We want our young people to have the opportunity to enjoy a challenging and satisfying career in New Mexico, and building a diverse economy is the way we do that.

Being an angel investor carries risk. Not all start-ups will succeed and even fewer will make you a great return on your money. But that said, in New Mexico, you will have the opportunity to invest in the best start-ups, which would not be available to a typical angel in Silicon Valley.

In the Land of Enchantment, we have something other states do not — the rare advantage of three national labs: the Air Force Research Laboratory, Sandia National Laboratories and Los Alamos National Laboratory. These labs, with the support of New Mexico Economic Development Department, have numerous programs that provide New Mexico small businesses with access to expertise, equipment and scientific brain power not available to businesses outside of New Mexico.

There is also a great inter-connected economic development support system across local, regional and state level entities. It requires the support of the full community to build a successful company from scratch.

The bottom line is great ideas and technology need funding to build solutions that engage the commercial markets enabling the creation of sustainable businesses. And then even more funding is needed to have those companies thrive and to become cornerstones of New Mexico’s economic future.

Build With Robots took off in 2020 when we commercialized automation technology for spaces where there wasn’t a lot of automation. We raised $5 million from angel investors, and have leveraged support from NMEDD, which has allowed the company to grow throughout New Mexico, Texas and Arizona. We launched a second round of founding to fuel new products and national expansion. Our bookings for 2021 exceeded $5 million and we are continuing to grow. Our New Mexico workforce has grown from two founders to 30 full-time equivalents. And those numbers will also continue to grow.

None of our success would be possible without that initial cash infusion that came so generously from angel investors. I encourage all businesspeople in New Mexico to get involved with our robust start-up scene, as an investor, a supporter, or a mentor. Together we will see New Mexico thrive in unprecedented ways.

Editor’s Note: Throughout 2022, New Mexico Angels’ members, investors and start-up owners will be writing columns on economic development and start-up opportunities in the state. The Angels unite individual investors to pool their resources, providing seed and early-stage capital to startup companies.

Home » ABQnews Seeker » Supporting New Mexico start-ups is key to long-term prosperity

Insert Question Legislature form in Legis only stories

Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email

taboola desktop

ABQjournal can get you answers in all pages


Questions about the Legislature?
Albuquerque Journal can get you answers
Email addresses are used solely for verification and to speed the verification process for repeat questioners.
How to harvest rainwater: County puts out guide for ...
ABQnews Seeker
Bernalillo County in partnership with Ciudad ... Bernalillo County in partnership with Ciudad Soil and Water Conservation District and the Arid Low Impact Development Coalition, have put together a step-by-step guide ...
Man's body pulled from Rio Grande
ABQnews Seeker
A man's body was pulled Monday ... A man's body was pulled Monday evening from the Rio Grande by Albuquerque Fire Rescue, who said the Bernalillo County Sheriff's Office will investigate ...
APD charges semi-truck driver with DWI in serious crash
ABQnews Seeker
Police suspect the semi-truck driver was ... Police suspect the semi-truck driver was under the influence of drugs when he crashed into two motorcyclists, causing serious injuries.
Biz Bits: Albuquerque Business Journal
ABQnews Seeker
Biz Bits: Albuquerque Business Journal Biz Bits: Albuquerque Business Journal
New Mexico governor creates affordable housing council
ABQnews Seeker
Gov. Michelle Lujan Grisham on Tuesday ... Gov. Michelle Lujan Grisham on Tuesday signed an executive order that created a Housing Investment Council with a mission to bring New Mexico's affordable ...
Tallking Jobs: Blindsided with a firing, struggling to recover ...
ABQnews Seeker
Dear J.T. & Dale: I was ... Dear J.T. & Dale: I was at a job for five years and was unexpectedly blindsided with a firing.
Couple behind Mountaintop Extracts shifted the cannabis space in ...
ABQnews Seeker
The goal, Eric Merryman said, was ... The goal, Eric Merryman said, was to create safety standards for cannabis extraction — and to offer up the highest-quality products possible for patients.
Amid changing climate, big fires leave lasting changes to ...
ABQnews Seeker
The fire-scarred Jemez Mountains — hit ... The fire-scarred Jemez Mountains — hit repeatedly by high-severity wildfires over the last 45 years — offer a peek at how the Hermits Peak/Calf ...
Community groups plan gun buyback for South Valley
ABQnews Seeker
Community groups are holding a gun ... Community groups are holding a gun buyback next weekend. The buyback event, facilitated by the nonprofit New Mexicans to Prevent Gun Violence, will be ...