No, I’m not recycling content, but yes, I really did write about New Mexico just a couple of months ago and I’m doing it again.This time, it’s about the launch of the NMexus Center in Albuquerque. Formally launched last month, think of it as an accelerator specifically targeted at attracting FDI to New Mexico.
Recognizing that where many foreign investors start with a small footprint can determine where they grow, the center is designed to work with companies just starting to explore or expand into the U.S. market. In addition to the 11,000 square foot Phase One physical facility, the center will offer formal market entry support and access to workforce partnerships. The center can currently serve 40 companies per year, and planning for phase 2 is already underway. The center opened with seven tenants and quickly announced commitments for $100 million in investment from a coalition of Indian companies over the next five years.
The incubator/accelerator model isn’t new, but the strategy of specifically adapting it to anchoring foreign investors early in their U.S. investment cycle is uncommon enough to make it another reason New Mexico is on my mind this summer.