Parent of NM Gas divvies up grants
Emera shares $1M with 28 organizations to spur development
Emera Inc., the New Mexico Gas Co.’s parent firm, announced another $1 million in grants this week for entrepreneurial innovation and economic development statewide.
The company awarded nearly $1.5 million to 18 organizations last year from a $5 million fund it established to offer grants around New Mexico over a five-year period.
This year’s funding will benefit 28 organizations, including some groups that received money last year. “We’re trying to spread the money around a little more this year,” said N.M. Gas Vice President of External Affairs Tom Domme.
Awardees include organizations that support entrepreneurial innovation and startups, plus groups focused on economic development.
“We particularly want to support entrepreneurship through accelerators, incubators and innovation programs,” Domme said. “We believe those things can have a long-term impact on the state by creating jobs and businesses.”
About $450,000 will support technology transfer and entrepreneurship at the state’s three research universities and at Innovate ABQ in Downtown Albuquerque. That includes:
$150,000 for New Mexico State University’s Arrowhead Center, which received $200,000 last year.
$100,000 for Innovate ABQ, which received $500,000 last year.
$50,000 for the University of New Mexico’s Innovation Academy, which got $200,000 last year.
A new $50,000 grant for a study on UNM’s economic impact in New Mexico.
A first-time $100,000 grant for tech transfer and entrepreneurship at New Mexico Tech.
The Santa Fe Business Incubator, the Bioscience Center in Uptown, and WESST Downtown will receive a total of $110,00. About $45,000 will go to the Creative Startups and ABQid business accelerators.
Another $400,000 awarded this year will finance small grants of up to $50,000 for economic development programs statewide.
Domme said last year’s funding had a significant impact.
NMSU’s Arrowhead Center used the money to launch five new business accelerators focused on agricultural, high-tech, health and exportoriented products and services. Nearly three dozen businesses have benefitted, said Arrowhead Director Kathryn Hansen.
Innovate ABQ used last year’s $500,000 grant to help build Central New Mexico Community College’s new FUSE Makerspace Downtown.
And UNM’s Innovation Academy used its $200,000 grant last year to build a center for entrepreneurship, with about 500 students now enrolled, said UNM Chief Economic Development Officer Lisa Kuuttila.