Talon News - Good Local News

By Sandy Nelson
Special to TALON 

BUSINESS INCUBATION WORKS

Community support, reliable funding sources and collaborative partnerships with economic development organizations sustain the success of SFBI and New Mexico's other business incubators, including The Enterprise Center at San Juan College in Farmington.

 

The Santa Fe Business Incubator (SFBI) has plenty to show for its 20 years of existence: More than 145 companies and 1,000 new jobs have been created, 49 of them in the last fiscal year.

Community support, reliable funding sources and collaborative partnerships with economic development organizations sustain the success of SFBI and New Mexico's other business incubators, including The Enterprise Center at San Juan College in Farmington. Like SFBI, all are certified by the state's Economic Development Department.

Business incubators provide fledgling ventures inexpensive office and manufacturing space, resources and opportunities to work with other tenant entrepreneurs and outside experts.

In 1997, SFBI was the first "certified" New Mexico incubator under the state's certification system. SFBI upsized from 10,000 to 30,000 square feet shortly after opening. In 2014 SFBI opened a $1.2 million onsite biosciences lab to help clients involved in product development and innovation.

SFBI added co-working space and in 2017 opened the Archimedes Fab Lab, a part of the International Fab Lab maker-space network. The Archimedes lab features digital fabrication tools that are linked by computer-assisted design software that allows companies to create prototypes of their ideas. Lab equipment is available to resident companies and others that become lab members.

Lenders WESST and The Loan Fund have offices at SFBI, as does SCORE, an organization of volunteer executives who provide free advice and mentoring to small-business clients. SFBI also collaborates with the Regional Development Corporation and New Mexico Manufacturing Extension Partnership; through its partnership with the Los Alamos National Laboratory Feynman Center, resident businesses can obtain technical help from national lab scientists through the New Mexico Small Business Assistance Program.

SFBI is located at 3900 Paseo del Sol in Santa Fe and recently celebrated its 20th anniversary.

EDITORS NOTE:

Aztec has begun the long term work to grow our own business incubator in the Aztec HUB at Chuska and Church. To date, building purchased, preliminary remodeling done, remediation for asbestos, and local business incubation efforts have been put in. In the tight financial times we are in, the question remains whether our fair city has the will to swing through enduring the ups and downs faced by all businesses, or will toss in the towel. Please share your views on this with TALON and the City.

 

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